Mayooo

Bitcoin looks set to move toward $73,000–$74,000.

Stocks are selling off, but crypto is holding up relatively well.
It’s becoming increasingly likely that $BTC could move to $74,000 first before we see any further downside.

The price action of $BTC will largely depend on how oil performs.
As long as oil remains below $94, Bitcoin may continue moving higher. However, a break above this level could be bearish for Bitcoin.
For that reason, the oil price is an important market to monitor.

$BTC successfully held the crucial support level at $69,000 and formed a higher low.
Price now appears to be moving toward the $74,000 level before a potential move lower.
A scalp long could be considered here, but personally I’m waiting for a new short opportunity around $74,000.

All my short orders on $BTC have been filled.

🇺🇸 US CPI data came in at 2.4%
Expectations: 2.4%

Scenarios I’m monitoring for BTC today
My overall bias remains bearish, and I expect a move toward the $60,000 level. However, there are a couple of possibilities to consider.
It is possible that yesterday’s high marked the local top and that price continues to trend lower from here. Alternatively, if CPI data comes in bullish, we could see a final liquidity sweep around the $72,000 level before the market resumes its move lower.
For now, short positions remain the priority.

The price of oil will determine what Bitcoin does in the coming days.
We’ve dropped significantly from yesterday’s high, but oil is still trading around $90, which is still quite elevated.
If oil moves higher again, it would be bearish for the economy and for Bitcoin. If it continues to move lower, it would be bullish for both.
However, I don’t expect oil to move much lower until the war is officially over. I expect significant volatility in oil prices.

President Trump says the Iran war could be over soon.
We’re seeing a pump because of this, but the war isn’t over, so it will likely be short-lived.
Don’t FOMO into a long here.

Over $750,000,000,000 has been erased from the US stock market since open.
While crypto is pumping!!
Interesting

Best short opportunity for $BTC is at the golden pocket around $71,000.