BTCUSD Oversold For Now?
There's been some significant price action since my last BTC update. As I expected, the market appears to be finding near term support near the December 1st 2020 high, just above 20k.
I would expect a near term bounce to find selling pressure above 24k.
If the 20300 support level breaks, There is little market structure to lean on to the downside until 12600.
FOMC release is in 2 hours at time of writing. I will update this later today, depending on how the market reacts to the interest rate announcement.
I would expect a near term bounce to find selling pressure above 24k.
If the 20300 support level breaks, There is little market structure to lean on to the downside until 12600.
FOMC release is in 2 hours at time of writing. I will update this later today, depending on how the market reacts to the interest rate announcement.
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