Bitcoin: idk, it looks right

16 jun 2021

FOMC will likely add nothing to tapering pressure and rates will not move until 2023 at the earliest (according to Goldman recently). This is probably a decent outcome on that non-action. We tested the lows with strong rejection, while resistance levels had lukewarm rejections when we reached ~41500, making me believe we take another run-up stab at them. The washout reached capitulation, fear is high, and short positions are stacked on bitfinex currently. I can see a breakout as high as ~50k in the near term, though all time highs will take months. End.