ANALYSIS
NQ100 Finds Support from PPIApr 14
Bitcoin May Return to Psychological $20,000
International markets are under pressure on crypto assets. We see that bitcoin has difficulty in finding demand, as the central banks of developing countries, which are behind the FED, accelerate monetary tightening. From a technical standpoint, an intense jam is extremely obvious. Due to the risks in the demand channel, bitcoin, which is more likely to break the symmetrical triangle formation to the downside, is likely to allow for a consolidated psychological $20,000 decline as the $21,450 support is terminated. However, meaningful recovery is unlikely unless the above $25,000 resistance is exceeded.
