Normal Chartered warn {that a} ‘clear break’ of US$90,000 might set off a wave of ETF unwinds and a drop to the low $80K stage:
- spot bitcoin ETF purchases because the U.S. election at the moment are solely breaking even
- digital belongings have been caught up in a macro-driven sell-off since Fed Chair Powell turned hawkish on December 18
- the danger is that compelled or panic promoting provides to the present macro-driven sell-off
- costs of all different digital belongings would possible comply with
- the drop could be a retracement and would current a chance the place “we (Stan Chart) would suggest accumulating longs”
BTC chart with the 90K assist drawn in.
The decrease line … might we get there? I’m positive technical analysts studying this publish can do a greater job of me, within the feedback please people!