BTC/USD chart - Trading View
Exchange - Coinbase
Support: 6588 (21-EMA); Resistance: 8488 (Jul 24 high)
Technical Analysis: Bias Neutral
BTC/USD is extending weakness for the 2nd straight session.
Following the very weak Q1 CPI release of Australia, the market has re-calibrated its RBA expectations and pushed 3yr swap rates to new record lows quicker than even we had expected under our expectation that the RBA would cut rates in August and November.
Expect a higher oil price.
Yen likely to correct lower and USD/JPY to push higher,