Nasdaq, Inc.Updated Scenario - Nasdaq, BTC, Alts
As there is still a large correlation between BTC and Nasdaq, we can hypothesize this scenario:
Double low for the Nasdaq, which sees an upward rebound before its achievement, at the same time BTC would also recover, fluctuating up to a threshold (approximately) of 45K and then creating a double low of 32K (January low). Also the Dominance has reached the 50% retracement level, I expect a descent of this, therefore, a flourishing period of the altcoins.
This analysis is a medium-term hypothesis, it will be explored in detail later.
Double low for the Nasdaq, which sees an upward rebound before its achievement, at the same time BTC would also recover, fluctuating up to a threshold (approximately) of 45K and then creating a double low of 32K (January low). Also the Dominance has reached the 50% retracement level, I expect a descent of this, therefore, a flourishing period of the altcoins.
This analysis is a medium-term hypothesis, it will be explored in detail later.
Note
It will be a reverse retracement or a reboot?I would say both, ie restart but not direct, it will be necessary to touch at least 180 points to consolidate the minimum or even make a double minimum.
2022, but also 2023 will be static.
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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.