41-46K range

Feb 17, 2022Morning guys,

Market shows relatively quiet behavior, and currently we see only single option - either you anticipate action in your favorite direction or wait for more clarity. 4H chart picture looks like indecision action with triangle shape. Thus, 40K and 46K looks like invalidation points, correspondingly for bullish and bearish positions.

Our personal view is BTC has more chances to keep going lower. On daily chart we do not exclude chances of downside appearing that precisely finalizes our OP target around 26K. Another reason for this view is fundamental. In recent 2-3 weeks we've heard only "Ukraine", now horrible world "Inflation" once again appears in media that brings nightmare to Biden's administration and the Fed. We suggest that markets now suspect that inflationary problems are greater than it was supposed and they are undervalued. Thus, Fed efforts might not be enough to hold it. This makes negative fundamental background for stocks and cryptos.