BTCUSD - idea for Sells! if some prices brake on the Monthly TF!
Sells!
The chart above you will see lines identifying different types of levels I see when the candle closes at the end of the month. If price does not brake the 1st key level this month there maybe some pullback or even a finished the downtrend momentum.
After ECB (European Central Bank) president Christine Lagarde confirmed the Governing Council’s intention to raise the key interest rate in July, US inflation rose to a four-decade high in May while a bleak Michigan Sentiment report provided a gloomy outlook for the prospects of economic growth.
DailyFX (report) Bitcoin prices dropped more than 6%, outpacing losses on Wall Street overnight, where the Nasdaq-100 Index (NDX) closed 0.74% lower on its first trading day of the month. That price movement shows still-week sentiment across markets, stifled by fears of economic recession amid tightening monetary policy. Still, Federal Reserve officials continued their attempts to assuage investors of those fears. Tom Barkin, President of the Federal Reserve Bank of Richmond, stated, on Fox Business, “you can’t find a recession in the data.”
GoodLuck :)
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