Hi,
When it comes to the global markets and crypto, I do believe they are interconnected.
At times, when the stock market looks like performing well, for what ever reason eg. US gov. action, money is moved from one platform to another, to take advantage of the uptrend.
It would be the smart thing to do. Other times, if crypto is doing well and others are not so well, vise versa. At times, they are in sync, just like now.
As I stated in the past, it makes sense to keep an eye on this, gold and the NASDAQ
Its also like a game, isn't it, trying to forecast. So here is my attempt.
Note: The price action with the RSI is reflective of a bearish divergence.
Keeping an eye on the RSI trendline is one way of knowing when to short.
Cheers,
S.Sari
DAILY Chart
When it comes to the global markets and crypto, I do believe they are interconnected.
At times, when the stock market looks like performing well, for what ever reason eg. US gov. action, money is moved from one platform to another, to take advantage of the uptrend.
It would be the smart thing to do. Other times, if crypto is doing well and others are not so well, vise versa. At times, they are in sync, just like now.
As I stated in the past, it makes sense to keep an eye on this, gold and the NASDAQ
Its also like a game, isn't it, trying to forecast. So here is my attempt.
Note: The price action with the RSI is reflective of a bearish divergence.
Keeping an eye on the RSI trendline is one way of knowing when to short.
Cheers,
S.Sari
DAILY Chart
Note
Ref chart: C.ChartsNote
Some observations: how often does the AB=CD play out? It has a good change here as it has confluence with the 0.5 fib retracement on this impulse, as per chart or 1 on fib extension.Note
There is a possibility for a cradle trade on this as well. If it develops into a good setup, I'll update this post. The condition it first needs to pull back to the 2730 support level again with another attempt on the 2800 resistance.I'll have my eye on this and see how it develops.
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This community has signals now but with no risk management comms.
Telegram: t.me/TprospaTradersbot
This community has signals now but with no risk management comms.
Related publications
Disclaimer
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Discord: discord.com/invite/vb4hbP88vb (TradeToProspa)
Telegram: t.me/TprospaTradersbot
This community has signals now but with no risk management comms.
Telegram: t.me/TprospaTradersbot
This community has signals now but with no risk management comms.
Related publications
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.