I don't trade indices, but I have to look at SP500 to see where the wind is blowing.
Yesterday's market bounce is only due to the fact that the FED raised the rate to 0.75% points, not 1%.
CryptoKnee great reviewed that every FED meeting ended with a SPX jump, which collapsed within days.
Meanwhile, we have a sign that wasn't there in '19 and '20, 50/100EMA cross on 3day chart.
If you look at the failures in '20 and '19, you will see that they were rapid, and so was the redemption. The picture here is different.
Not to mention the fact that kumo cloud has already formed.
SPX will be headed for a major level of ~3400 for the remainder of the year.
All of this will have an impact on crypto market.
Yesterday's market bounce is only due to the fact that the FED raised the rate to 0.75% points, not 1%.
CryptoKnee great reviewed that every FED meeting ended with a SPX jump, which collapsed within days.
Meanwhile, we have a sign that wasn't there in '19 and '20, 50/100EMA cross on 3day chart.
If you look at the failures in '20 and '19, you will see that they were rapid, and so was the redemption. The picture here is different.
Not to mention the fact that kumo cloud has already formed.
SPX will be headed for a major level of ~3400 for the remainder of the year.
All of this will have an impact on crypto market.
Note
Note
Note
So what happens at the ~3400 shelf? Correction (move up), a sideways movement, or will the market just follow it downwards (and it will be already rapid)?
Write me in comments.
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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.