Crazy day for both the Crypto Market and stocks, do you know why tech stocks are sinking? Well its because the life cycle and well being of crypto is now related to tech stocks as some companies have adopted crypto into their business, whether its as a means of payment or investment purposes (Example: Tesla)
with Crypto sinking a lot of investors and retail traders have gone short because if Bitcoin decreases then so will the companies value of their investment = companies revenue = companies worth. Now we will either see Investors and hedge funds buy the dip as tech is still a great investment regardless of its association with crypto or will we see more red on our screens? hence why I have these zones to look out for:
- A break at 13220 = more upside
- a break the all time low will take us to 12750
with Crypto sinking a lot of investors and retail traders have gone short because if Bitcoin decreases then so will the companies value of their investment = companies revenue = companies worth. Now we will either see Investors and hedge funds buy the dip as tech is still a great investment regardless of its association with crypto or will we see more red on our screens? hence why I have these zones to look out for:
- A break at 13220 = more upside
- a break the all time low will take us to 12750
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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.
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.