Inflation is in a very long-term downward trend. Is this the rejection of the resistance trend line?
I think so since the fed focuses a lot on inflation, and Jerome Powell's first objective is to lower it.
The S&P 500 is not far from the bottom, and it is possible at the end of this year or the beginning of next year if the fed will manage to beat inflation sooner or later?
https://www.tradingview.com/x/tkbV0gAA/
I hesitate to close my Long position on ATOM.
Lots of Long on the balance to be liquidated to the South, and especially close to the price.
On BTC it's the opposite, we have a lot of Shorts to liquidate in the North with big leverages.
Finally I decided to stay on the Long ATOM/USDT again at least until tomorrow before the announcement of inflation or even to wait for the result!!!
I think if BTC decided to go north ATOM will follow it.
BTC has been in a downtrend channel for almost 2 months with increasingly weak selling Momentum and multiple bullish divergences, and Bollinger Bands compressing.
Before arriving in the bearish channel, we come from a bullish channel which also lasted 2 months with a decreasing bullish Momentum from and multiple bearish divergences, and the Bollinger Bands in compression, before breaking from below to confirm the bearish flag.
I think that soon we will have a break through the top of the bearish channel to confirm the bullish flag, but since the bottom trend is bearish, the probabilities are towards a continuation of the decline and possible break through the bottom, finally the market always shows his hand which is bearish at the moment.
https://www.tradingview.com/x/WIppzZ9x/
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