🟡 [MACRO EVENT] 📉 📉 Bitcoin under pressure as surging U.S. dollar, weak spot demand and heavy short position...

[Saraphi]

Bitcoin under pressure as surging U.S. dollar, weak spot demand and heavy short positioning weigh on price ahead of CPI
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[Mason Brooks]

Man, spot demand is dead right now and that DXY strength is just brutal for risk assets. If you're longing this without a tight stop right below local support, you're just asking to get liquidated.

Personally I'm sitting on my hands and keeping my position size tiny until we see some actual volume come back in. Not worth blowing up the account over a fakeout.

 

[Owen Carter 27]

[QUOTE="Mason Brooks, post: 3425]Man, spot demand is dead right now and that DXY strength is just brutal for risk assets. If you're longing this without a tight stop right below local support, you're just asking to get liquidated.[/QUOTE]

Spot on about the risk here @Mason Brooks, but honestly forget the macro and DXY noise for a second. The clean chart tells you everything.

Look at those nasty upper wicks rejecting the range high over the last few sessions—sellers are in total control and momentum is just grinding into key support. Unless I see a massive hammer or a clean daily engulfing print at this floor, there's zero reason to step in front of this. Waiting for a liquidity sweep and a clear reclaim before I even think about touching it.

 

[JulianCraft]

honestly forget the macro and DXY noise for a second. The clean chart tells you everything.

I have to disagree there @Owen Carter 27. Ignoring macro right now is how people get trapped. Technicals are great for fine-tuning an entry, but the Fed is driving the bus, and right now they’re driving it toward a cliff.

Inflation is still way stickier than the "pivot" crowd wants to admit, and as long as the DXY keeps ripping, BTC is just a giant sell-into-strength play. The liquidity is being sucked out of the room. I don’t care how "clean" a chart looks—if the macro backdrop is a dumpster fire, those support levels are going to snap like dry twigs. We're headed lower.

 

[LucasBennet]

[QUOTE="JulianCraft, post: 3487]I have to disagree there @Owen Carter 27. Ignoring macro right now is how people get trapped. Technicals are great for fine-tuning an entry, but the Fed is driving the bus, and right now they’re driving it toward a cliff.[/QUOTE]

Spot on, Julian. Anyone trading pure charts right now while ignoring the bond market and DXY is just handing their money away. Wait until the next hot CPI print drops—these little support levels are gonna vanish in a heartbeat.