Dollar index rapidly increased in last hour, rising up from 104.3 to 104.5. It caused BTC's down suddently from 68.4k to 67.5k, erasing all recovery in the morning. Recently, it touched 67.5k many time. If it cannot hold this level, it can drop to 66k or 65.5k. High pressure on BTC now. I keep my forcast: range 65k to 70k in this May.
LIVEACOW
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Bearish
$BTC
Today it announced 2 important news. The first, Initial Jobless claims, is lower than prediction, 215 compared to 220. And S&P global service PMI index soar up to 54.8, out of experts' forcast. All shows that US economy is stronger than expectation.
Dollar gains more other CCYs.
FED minutes also implied that it is not a suitable time to cut rate. Inflation still threaten economy. Curent interest rate must be kept in coming month.
I expect that BTC fluctuate in range 66k to 69k until end of May.
We must wait for the break next month.
#btc70k #BTC
Today it announced 2 important news. The first, Initial Jobless claims, is lower than prediction, 215 compared to 220. And S&P global service PMI index soar up to 54.8, out of experts' forcast. All shows that US economy is stronger than expectation.
Dollar gains more other CCYs.
FED minutes also implied that it is not a suitable time to cut rate. Inflation still threaten economy. Curent interest rate must be kept in coming month.
I expect that BTC fluctuate in range 66k to 69k until end of May.
We must wait for the break next month.
#btc70k #BTC
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