Bitcoin Closes at the 50 Week Moving Average

On Bitcoin

Changed since their last video: days moved down to waiting.

Views

• Next days (next 1–7 days): Waiting on a level (timeframe is our reading): I mean, I it seems like the bears and the bulls are still battling it out basically right at that 50-week moving average. ▶ 04:10

If this, then that

• If Inflation report comes in hot, raising rate hike probability, then no target given (next days, by this week): If it comes in hot, then I imagine the rate hike probability would probably go up quite a bit. Which, as we saw with non-farm payroll, would likely kind of hit Bitcoin back down at least in the short term. ▶ 14:09
• If Multiple closes above the 50-week moving average signal the end of the bear market, then no target given (this cycle): Multiple closes above the 50-week moving average typically signifies the end of the bear market, okay? ▶ 09:09

Levels named

• 82.3k: Resistance (slightly higher high but still a lower high than May): it did make a higher high and go all the way up to uh around 82,292. ▶ 02:38
• 80k: Resistance (50-week moving average is heading down and price is battling it): this week, the 50-week is, you know, a little bit low, 80,000. ▶ 05:01

Their own position: Not said.

Dates named

• Inflation report, undated: Yeah, I guess you have the inflation report. I believe uh I think it's later this week. I think like in 5 days or so.
• Fed meeting, undated: Um so that will be something I suppose that the market will watch for this week and then of course the week after you have the Fed meeting.