Bitcoin Chasing Dollar Weakness
News that Blackrock have high odds to run a bitcoin spot ETF, sparked BTC higher.
Maybe that was the catalyst to spark the bulls. Fundamentals had already shifted months before.
Lets look ...
Chart 1 - The lower US dollar and higher Chinese 10 yr have signaled for a while that bitcoin had room to move higher.
(Click on image to enlarge)
Chart 2 - Standard Wyckoff Accumulation story continues to build. A move to upper resistance would be health and shows the accumulation is still the head line story.
(Click on image to enlarge)
Chart 3 - Bitcoin weaves it ways through support and resistance channels, like clock work.
(Click on image to enlarge)
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