Proekt_73
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While BTC has aggressively dropped against the growth forecast (https://www.binance.com/ru-UA/square/post/19687519380378). Downtrend on 15 and 30 minutes. However, BTC dominance is exactly following the forecast and is about to reverse 🙄
At CME, the range of the previously closed gap, which could have acted as support, has been broken. And throughout Friday, it has indeed acted as support more than once.
After the closure of the 4-hour candles, we will reassess the situation.
The reason for the squeeze, it seems, was the news that the USA will impose tariffs of 25% on Mexico and Canada and 10% on China starting tomorrow. Uncertainty for the global economy is not the dumbest reason for such a move.
However, we consider this movement as a long squeeze due to the dynamic nature of the sell-off and the overall long picture in the market.
At CME, the range of the previously closed gap, which could have acted as support, has been broken. And throughout Friday, it has indeed acted as support more than once.
After the closure of the 4-hour candles, we will reassess the situation.
The reason for the squeeze, it seems, was the news that the USA will impose tariffs of 25% on Mexico and Canada and 10% on China starting tomorrow. Uncertainty for the global economy is not the dumbest reason for such a move.
However, we consider this movement as a long squeeze due to the dynamic nature of the sell-off and the overall long picture in the market.
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