The BTC is rising while volumes are falling, it's visible on the OBV via the bearish divergence, and the same on the MACD with a falling Buy Momentum.
The price is being rejected by the 50% fibo in confluence with the trend line as resistance of the bullish channel which has a lot of chance to break below to confirm the beari flag!
We have just filled the empty gap left since the drop of September 13, 2022.
https://www.tradingview.com/x/JYmmQf3s/
A lot of BTC arrived today on the exchanges, I think of a profit taking of the whales which have accumulated below 20K, if we will have a big spike on the balance, then a drop is coming!
Weekend traders who are fomo by opening longs massively and especially with big leverage saw the peaks of liquidations in the south close to the price, so in the north it's the desert it looks like the shorts have taken their leave, but it's normal when it pumps it's the fomo.
Next southern peaks to look for: $20900 / $20500 / $19300
The rise in unemployment to 3.7% is more than expected (to 3.5%), it's a good start towards lower interest rates.
If we have fewer people working and therefore less $ in circulation, that leads to lower inflation.
https://tradingeconomics.com/united-states/unemployment-rate
The dollar is correcting strongly after the rise in unemployment with a large red engulfing candle on the Daily, and it has just entered the Ichimuku cloud (the zone of neutrality).
The first stop is the 38.2% fib at 110.8 and the MA 62 in blue, to see the next week if we will have a bullish engulfing candle, or we'll hit 109.6 on the 50% fibo in confluence with the support level tested several times and as the last bottom if we break it with force it's possible that the dollar will change the structure in daily from bullish to bearish, but to be confirmed in Weekly!
https://www.tradingview.com/x/PAV5QsAx/
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