Bitcoin Chasing Dollar Weakness

By Staff of ReadTheTicker.com
Saturday, June 24, 2023 8:48 PM EDT

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)

BTC 1

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)
BTC 2

Chart 3 - Bitcoin weaves it ways through support and resistance channels, like clock work.

(Click on image to enlarge)
BTC 3

 

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