Why analyzing the S&P 500?
Since the arrival of institutions on the BTC the last two years, we are correlated with the S&P 500 almost 90% of the time, and inversely with the dollar index DXY in negative correlation.
- S&P 500 Daily TA:
After 4 candles with a long wick candle showing that the buyers are losing Momentum while the sellers are defending the resistance at 4000, today we have a red engulfing candle that is confirming the bearish divergences on the RSI, MACD and the OBV trying to swallow the last 4 candles.
https://www.tradingview.com/x/eX6hGfMv/
My 4 shorts opportunities to consume with moderation!!! BTC/ETH/SOL/DOGE
Many liquidation peaks at the bottom of the price, which show that the market makers will not let everyone benefit from it, if it was so easy to win in trading, we will not have the 90% who lose, like now the majority are opening the long positions.
Who says liquidation, says liquidity for market makers to buy in large quantities without moving the price too much, by forcing buyers to sell at a loss or by triggering their stop losses and at worst their liquidations.
I risked a very small sum on my 4 short positions that won't hurt me too much if I lose, or even if I have to close my positions at a loss, it will be easy, but if it's going in the right direction, it will make me feel better, that can enjoy my portfolio of trading.
Trading is my indicator for positioning myself well on long-term projects.
My final goal in futures trading is to avoid buying DCA when I see such a configuration, it's better to wait for a bullish signal or support than resistance to recharge long-term cryptos.
The analyze I shared yesterday on the Telegram channel, always seeing the pros and cons before making a decision to increase your chances of winning!
Before being blinded and biased by a direction without looking for what to do if it will go the wrong way, finally manage the risk well and above all be aware, and never go all in, always have dollars in your wallet to either buy the dips and take the profits.
Yesterday's technical analysis of BTC in Daily below:
I see the 20K on the BTC to look for the POC of the volume profile via the red line for several reasons:
- The S&P 500 is bullish in Daily.
- Large liquidation peaks from 20K
- The falling dollar.
- Macro traders are anticipating the news towards lower interest rates and the same for unemployment and inflation, I could be wrong but the S&P 500 is trying to hold up well at 4000 and it's starting to drop slowly, and soon he will break them by force!!!
The other scenario of going for the 14K to 12K remains the strongest seen only on weekly The BTC and the S&P 500 are still bearish, but the S&P 500 is bullish on the Daily unlike the BTC.
the whales are accumulating on the BTC and sending everything out of the exchanges, one moment we will have nobody, the sellers will have left the market, the buyers the same because of fear and I believe that the train will be very empty to go north.
The break out of the 4000 on the S&P 500 is 20K or 14K on the BTC
https://www.tradingview.com/x/XK8C0CFg/
👉 Follow the links below to the best & Secured Exchanges that I use for trading & often gives rewards for using their platform like Learn & Earn Program, making deposit & Trading on spot or Futures, Trading Competition, ...etc.
📈 Binance: 10% discount on Binance Futures trading fees!
https://www.binance.com/en/futures/ref/38451215
📈 Phemex: Up to $180 in welcome bonuses waiting for you.
https://phemex.com/register?group=718&referralCode=BAR9K
📈 Kucoin: Rewards for users Up to 10 million USDT
https://www.kucoin.com/ucenter/signup?rcode=Kvyf2d
📈 Bitmex: Up to 80 BMEX Tokens Welcome Offer.
https://www.bitmex.com/app/register/xXePh3
👀 Follow the Links Below to my Telegram Channels:
☑️ English: https://t.me/tradingwithbinance
☑️ French: https://t.me/Adaminssane1
