Whats next on BTC? ALERT! Fight between fundamentals && chart.
BTCUSDCURRENCYCOM:US500
BTCUSDTBTCUSDT.PBIG CHART SIGNAL!
Hello, some days ago i posted this:
When we nailed the forecast including the stop loss, but, whats next?
Now, there is a big big problem (in my inner trading conception). Why? Lets see fundamentals && charting points of view, they are, maybe, contradictory:
1. Fundamentals, economics: there is so much confusing data: CPI isnt decreasing, in deed we are maybe fronting a stagflation (a period of time where intitutions cant dicrease the inflation to their target, 2% in our case) but the retailing sells in EEUU have increased above the forecast. Strange, so strange, In my country, Spain, January was a good month in sellings but in February, in the Capital, Madrid, people is stopping the buy fever. Maybe February will be a bad month to EEUU too? All we know is that the FED will increase again interest rates and probably again 0.5%. What do I think? we should front a little recession if retailing dumps in February and maybe we are currently in a distribution.
2. The charting data. Well, today I will not drop lines, fibonaccis, rsi, nothing. Only 2 things, we left the 24k resistance and there is nothing between us and 26k+ AND THE BIG THING, you can see in the chart. EMA50 and EMA200 (moving averages of 50 & 200 periods) in time frame of 1 Day is crossing. Take a look whenever it happens and what happens with the asset u are looking... big trend is confirming. ALSO, very **** fucking important, the US500 (SP500) is in the same situation, ema50&ema200 in time frame of 1Day is crossing. *** it, if it is a bull trap it would be a VERY VERY big one. Let's wait and see if they finally intersect.
So, whats next? I think SP500 will touch 4300 and BTC will touch 26k due to their momentum but I CAN NOT tell anything more. Two big elements are maybe fighting, maybe we are leaving the 2022 downtrend, or maybe we are in a fomo trap and drop. I have setups that i will share to you if either of the things happens. But first, lets stay calm, maybe charge your spot to your long term trading or open some little positions, do some low timeframes scalping....
Thank u for reading me, I really appreciate it :)
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