Just a quick and simple note on BTC. The recovery from the BTC’s August plunge is looking to meet resistance at around 11,200, the 50% Fib retracement at , making it somewhat a near-term dead cat bounce. Note the weak volume driving the upside at . If this turns out to be the case, likely support may be found at the 9050 range . As for the fundamentals driving BTC, who the heck knows?
Are we seeing a fear trade, one driven by the dollar’s decline?
If so, we’re seeing BTC outperforming gold and underperforming silver. As BTC is not a traditional component of “sound money,” hence a speculative safe haven of sorts, are we seeing yet another sentiment-fueled Bitcoin Bubble?
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