Started incorporating a line chart just cause it's easier to see trends and patterns and it feels like a cheat code compared to candles in terms of confirmation... Anyways, the 38.2% Fib at $3815 appears to have held held twice, as shown by arrows. If it does hold I am expecting a run up to $3900, or $3975/$4000 before resuming downward. I see a return to bearish control in early 2023 as the second half of 2022 was pretty evenly fought although there wasn't much reason for the market to uphold as well as it did. This left lingering inflation and recession priced out and eventually the market will need to reflect that. Credit Suisse or Binance going under should jolt the market back to reality. This isn't only an issue of falling asset prices, the global financial system is at risk of peril.
If you wanna read about only one issue (that we even know about) that is a risk to the global economy read this article. Terrifying.
nasdaq.com/articles/bis-warns-of-$80-trillion-of-hidden-fx-swap-debt
If you wanna read about only one issue (that we even know about) that is a risk to the global economy read this article. Terrifying.
nasdaq.com/articles/bis-warns-of-$80-trillion-of-hidden-fx-swap-debt
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