Image Source: Unsplash
We've noticed based on our key levels, that MSTR key-level breaks have started to lead Bitcoin's key level breaks. The tail is wagging the dog.
MSTR is sitting right above a key medium term level, 330. A break of that would mean there's much more downside risk.
Bitcoin just followed MSTR's previous key level break and I think there's risk it continues to follow it lower if MSTR decides to break this next key medium-term level.
We pointed out recently that the market just priced in one fewer cut for 2025 from the Fed. Fewer cuts or inflation and more hikes would risk non-yielding assets like MSTR and Bitcoin so their lower key levels need to be watched.
We generally look for a 'slice' break for confirmation of our key levels. Such a slice is a fair warning for a likely continuation in the slice's direction.
More By This Author:
The Most Disappointing Rate Cut Ever
Euro Versus Dollar At Key Level
Bonds And TLT Risk
Comments
Log in or sign up to join the conversation.