BitcoinShort
Bitcoin >>43K >>30K
As mentioned in my previous post, price have been printing negative divergence with MACD since mid February. This indicates weakness in the trend as price was decelerating while making new highs. If price closes below 50K on daily chart, initial target would be 43k, then 30k, with a possibility of revisiting 17K.
This bodes well with current market anticipation of possible higher interest rates. Risk assets will take a setback in such scenario. This would include stocks.
If Bitcoin in fact reaches 30k, AAPL would be heading to <$90, TSLA <$450, S&P <$310.
Also, recent stock makers rotation into value stocks (from growth) only highlights how maker is preparing for a turbulence of risk discounting.
P.S. price forecast is only for intermediate future. Long term prices will recover and print new ATHs.
This is not financial, investing, or trading advise.
This bodes well with current market anticipation of possible higher interest rates. Risk assets will take a setback in such scenario. This would include stocks.
If Bitcoin in fact reaches 30k, AAPL would be heading to <$90, TSLA <$450, S&P <$310.
Also, recent stock makers rotation into value stocks (from growth) only highlights how maker is preparing for a turbulence of risk discounting.
P.S. price forecast is only for intermediate future. Long term prices will recover and print new ATHs.
This is not financial, investing, or trading advise.
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Related publications
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.