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Blockhead Says: BTC Push Up, Then Fade & Pullback

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Today, I’ve got my eye on the Bitcoin hourly chart – price broke higher today, and as was anticipated in yesterday’s note, has formed a U-shaped base and is challenging the breakout level aggressively.

The preferred view remains for a push to around US$23,000 and then a fade and pullback over the next month or so.

Ethereum’s dead cat bounce of last week has resolved and price is similarly pushing higher now.  I would be watching for a rally in Gold now too – price may well be emerging from a 20-week cycle low.

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