Currently dropped to a confluence of the 78% fib and key support levels. We closed out a long running series of whale bids from $44l to $40k, and I think the last piece of the puzzle is the CPI report Tuesday.

General market sentiment is likely a combination of factors- the US Government making public statements every couple days (for two weeks) about inflation and interest rates, etc. trying to drive markets down; and the whales looking to clean up on the back of some bad news.

Until I see key levels invalidated on higher timeframes, I’ll remain (weakly) optimistic that the DYX weakness beginning to present coupled with a couple months until the next FOMC.. that markets will have enough breathing room for a final rally towards $50k.

That said, you have to plan for the worst with either being primary stables or strict risk management/stoplosses because these are volatile times.