WARRING: Marco market conditions change incoming #SP500 $BTC CBOE Volatility Index has been used by investors for decades to identify macro market transitions.
This is 1 Year analysis of TVC:VIX in conjunctions with market developments.
1. 28th Sep '22 is the date TVC:VIX signalled oversold conditions on #SP500 where price double-bottomed and commenced this bullish wave we are living through
2. 9th of March '23 TVC:VIX signalled heavy market oversold conditions and #SP500 completed the first significant correction
3. 20th Oct '23 TVC:VIX signalled another #SP500 oversold condition triggering another continuation
At this stage is important to consider a important market rule "The Power of 3"; - TVC:VIX has topped 3 times now suggesting this intermediate bullish wave is coming to an end.
Now turn your attention to 22nd Jan '22 where TVC:VIX for a fist time dropped back to COVID-lows.
It had since repeatedly touched and rejected of these levels suggesting of bottom formation.
At the same time TVC:VIX signalled first significant market overbought condition very close to what it seems the bottom and shortly after forming 3rd oversold peak.
Traditionally CRYPTOCAP:BTC had front-run #SP500 and would expect crypto market to take downard turn before traditional markets which can serve as a final confirmation of an upcoming winter.
