As BTC price has been following S&P500 closely, price will follow as indicated after resistance level reached.
ADX+ LOSING POWER
RSI REACHING OVERBOUGHT
STOCK RSI AT OVERBOUGHT
MACD APPROACHING TURNNG POINT
My gut tells me everyone scared of march FED intereste rates hikes. If BTC follows the stock market , then it will dump followingly.
Also, inflation reaching 7% in USA, and CPI index at record historic highs. tradingeconomics.com/united-states/consumer-price-index-cpi
To this you add a supply chain shortage.
Recession is guaranteed.
My forecast is bearish market coming up sooner than later. Crypto winter is coming.....
ADX+ LOSING POWER
RSI REACHING OVERBOUGHT
STOCK RSI AT OVERBOUGHT
MACD APPROACHING TURNNG POINT
My gut tells me everyone scared of march FED intereste rates hikes. If BTC follows the stock market , then it will dump followingly.
Also, inflation reaching 7% in USA, and CPI index at record historic highs. tradingeconomics.com/united-states/consumer-price-index-cpi
To this you add a supply chain shortage.
Recession is guaranteed.
My forecast is bearish market coming up sooner than later. Crypto winter is coming.....
Note
Forgot to add MACD indicator, but you can add it yourselves and see aswell what I meant. Its true that MACD does not always go down immediately, so it could go up, if RSI continues to reach total overbought areaNote
Seems my forecast was some how not completely precise, as I would have expected a move to the upside before resuming the downtrend. I am now incorporating more technicals into my analysis to increase precision . I hope you did not place too tight stop loss on short position, if you did followed my idea. NFA ( Not Financial Advise )
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.