BTCUSD Long TermSo this is an indicator based on a glassnode metric that I did and don't try to read it directly in relation to the price - They are independent from each other.
One thing that can be correlated though, is the behavior. Each time It has shown signs of flattening or strong bounce - it was a good time to buy.
Right now we don't see neither. I'm not investing yet.
TSG
DXY - lets zoom in here for a secDXY has already broken the ascending curve - which is getting bullish for stocks - unless it consolidates and defends its supported level now.
Normally I would long stocks, but If you look at the Trend Exhaustion and RSI - they haven't broke their trends - in fact they still have room. If price keeps that level until then - it may result in a bounce and continuation of the trend.
BTCUSD Still longBTC is taking its time here, but nothing has changed much - I'm even more convinced in longing here, since the break of the curve didn't bring volatility during the fall. Volume trend on 4h is starting to go up, and rest of indicators seem to have taken a break. Open Interest also has reached a lower extreme - The market is ready for a bounce and retest of the channel's higher curve.
DXY attempting retracementDXY's parabolic move - I'm still really bullish on the Dollar, specially if there's no FED pivot ahead - but this time it seems this consolidation is leading into a small retracement afterall - Together with VIX forming a double top and SPX breaking out - We could see a small retracement - or a consolidation if I may call that so. Not expecting a major fall here as this will continue parabolic later this year.
SPX - Final Consolidation aheadWe are entering the final consolidation before the biggest dump you have experienced in your trading career*
SPX has touched bottom for now - it could fill that long candle but I'm not expecting deeper lows than the one we have now.
Stay safe.
*unless you are a trader with 15y of trading experience