- The Crypto Cartel
- Posts
- Bitcoin Macro Update: A Technical Analysis
Bitcoin Macro Update: A Technical Analysis
The King Dictates The Entire Market
The chatter in the crypto world seems to be picking up again…

Before thinking about longer term moves, lets take a look at BTC which dictates the entire crypto market…
Here is a Monthly candle chart (longer term picture)
We’d still say the pair is bearish until it is building a base above the 50% Fib Level.

Here is a closer look, we also have a key quarterly level, which seems to be acting as strong resistance at the moment…

Zooming in to daily candles, this is even more evident… The volume is also poor, with the spikes appearing to be selling off at the moment (circled below)

By taking a macro outlook, we can avoid rushing in/ making emotional decisions.
Take a look at the Fear and Greed Index Level today:
