Bitcoin 1D is almost oversold. A first target would be $42,000. Resistance is $45,000 and $47,000. There just doesn’t seem to be enough steam for a breakout. Bitcoin’s popularity is already maxed out and the investor is struggling according to the economic data. Being that Bitcoin moves with the equity market, we could see bitcoin take a tumble.

Morgan Stanley stated the “Bear market is over”. JPMorgan analyst is telling equities investors to take profits. It seems like more economists and analysts are seeing markets taking a tumble. FOMC has been much more hawkish, pushing the 10YR higher. The 1M for Bitcoin is bearish , but short term is looking somewhat better as there have been higher lows and higher highs since January.