Is there still room for downside for BTC?
Before it went up to 28800, it was mentioned that when it reaches 30000, it must go to 30900. The current consolidation situation is also digesting the 31400 range. From the four-hour conclusion, we can see that the short-term support is at 29750. In order to avoid a sharp decline, it is recommended Focus on defense. I personally expect to start making plans around 30050 with a target of 30600.
Macro data: U.S. dollar index and current market As the end of the quarter approaches at the end of the month, traders are rationally facing the wait-and-see approach, which may also provide support for the U.S. dollar. Friday’s data comes amid unexpected interest rate hikes and hawkish comments from global central banks. Released later, these have reignited concerns in the market that policymakers still have some way to go in tightening policy to curb inflation, potentially even tipping the economy into recession. As it happens, the opposite is true for the USD Index and BTC
