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Professor Here LTF Head & Shoulders

H&S playing out, possible we see mid 63k range today.

Careful though, market has been front running liquidation / pattern targets a lot lately.

Still leaning towards a bounce in the ~64k (macro confluence) range.
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𝐁𝐈𝐓𝐂𝐎𝐈𝐍 𝐔𝐏𝐃𝐀𝐓𝐄:

-BITCOIN just recorded its highest daily close in 27 days.

-The price has broken above the key $64,000 resistance and closed above it, following softer-than-expected CPI inflation data.

-The price closed above 1D SMA50

-The next major resistance sits around $67,000. As long as the price holds above these broken levels.

- But remeber that inflation could become more volatile again if tensions in the Middle East push oil prices higher.

- A sustained rise in energy prices could lift future CPI readings and influence the Fed's next policy decisions. And this could change the current BTC price momentum.

-Another confluence: in previous bear market cycles, July to August has often been a relief rally period for Bitcoin before the market's next major move.

Stay cautious!

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BREAKING: Gold prices fall below $4,000 per ounce after plunging 14% in Q2, posting their worst quarter since 2013, amid rising Fed rate hike bets fueled by inflation driven by elevated oil prices.

Gold prices are now down more than 28% since hitting their all-time high of $5,600 in January this year.

Meanwhile, Fidelity says it is planning to build Gold holdings on long-term bull case.

Elevated oil prices due to the war in the Middle East have heightened inflationary risks, leading investors – including Fidelity's multi-asset team – to factor in a rate hike by the end of the year.

"There's a plan to go back to overweight in gold," Ian Samson, multi-asset portfolio manager at Fidelity, said in a recent interview.

A recent survey by the World Gold Council and YouGov Plc showed more central banks than ever are planning to buy more bullion this year.

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