Bitcoin Continues to Look for Lower Levels -
on” type of environment to flourish, and it’s almost certainly going to remain “risk off” in the short term. At this point, the market is likely to see a lot of rallies are going to continue to be sold into, because the monetary policy is going to continue to be very tight and if the jobs number ends up being stronger than anticipated, that could have people running away from everything that is not called “the US dollar.
At that point, I would anticipate that Bitcoin drops down to the $15,000 level, possibly even as low as the $12,000 level. This is a market that I think continues to see a lot of negative pressure, so rallies at this point should end up being nice selling opportunities.In general, Bitcoin looks as if it’s going to continue struggling going forward., I don’t have any interest in trying to get overly cute with the market, and I do believe that the market will continue to look at this as a market that has no real upward momentum.
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