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Bitcoin bulls continue to have problems mounting a challenge to bearish resistance at $22,000, which has led to an extended period of choppy price action in the range between $21,300 and $21,850 according to data from TradingView.Kitco Senior Market Analyst Jim Wyckoff noted the diminished price action across the market in his morning Bitcoin brief and suggested that “Bears have the slight overall near-term technical advantage.
As long as the technical uptrend continues to hold like this, $BTC should be able to enjoy some acceleration to the upside#Crypto #Bitcoin pic.twitter.com/ATB67L5fhs While many in the community are banking on a “Fed pivot” narrative where interest hikes will be curtailed below 0.25 basis points along with the reintroduction of quantitative easing, the central bank’s 2% inflation target suggests that any notions of a near-term dovish pivot are pure fantasy.
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Source: CryptoAmb - 🏆 22. / 68 Read more »