Sive Morten
Special Consultant to the FPA
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Good morning,
The fact that BTC is growing together with the US interest rates makes us think that this growth has fiscal reasons. As EU comes close to accept embargo on Russian hydrocarbons, the capital outflow from EU accelerates, and BTC should be among beneficiaries of this process. In nearest few sessions we expect technical pullback to 42-42.5K area roughly. Once retracement will be over, we do not exclude chances of another upside swing to 55.1-55.3K target:
The fact that BTC is growing together with the US interest rates makes us think that this growth has fiscal reasons. As EU comes close to accept embargo on Russian hydrocarbons, the capital outflow from EU accelerates, and BTC should be among beneficiaries of this process. In nearest few sessions we expect technical pullback to 42-42.5K area roughly. Once retracement will be over, we do not exclude chances of another upside swing to 55.1-55.3K target:
