The price has quite a way to fall before it reaches any natural support levels, with the nearest one being a little below $82,000.

The Elliott Wave analysis for the TASI Index reflects a bullish trend, driven by an impulsive wave structure.

The dollar rally is at risk of some positioning-led correction, but we expect that US core CPI will come in at a relatively hot 0.3% MoM, which should keep markets rather hawkish on Fed pricing.