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Bitcoin Downside Path Forecast
Benjamin Cowen lists a Bitcoin path: weekly close below $83k, Fed holds Oct 28, hot PCE, oil above $120, 10Y back to 5.3%, stocks and Bitcoin drop.
Original post
A plausible path to consider (in order).
Becomes void if Bitcoin gets and holds back above $83k
-Bitcoin weekly close below $83k (again)
-Fakeout confirmed (Oct 25)
-Fed does not raise rates (Oct 28)
-PCE comes in hot (Oct 29)
-Oil spikes over the Iran war (~$120)
-Long end goes up (10Y back to 5.3%)
-Stocks drop
-Bitcoin drops in Q4 of midterm year (like always)
-Long end drops before EOY
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