- The 3 Bulls: The S&P 500 up, the dollar index DXY down sharply, inflation too.
VS
- The 3 BEARS: BTC bottom of the last low at 17.6K, liquidations spikes at 14K and FTX crashes.
Logically the dollar falls the S&P 500 with the BTC rise, but there everything is inconsistent with a falling dollar, the BTC too but the S&P 500 despite it being up but still without volumes.
My conclusion is that the S&P 500 with BTC will continue to decline while the Dollar will rebound either to retrace and then continue to fall or it will resume its bull run.
I think we are very close to the Bottom as inflation declines and possible the Fed will lower interest rates with more unemployment in the US.
Well it doesn't smell that bad, there will be a time when everyone will be scared and the market will be in lack of liquidity, the big whales will come to clean up north of the stops and liquidations of the shorts, but this is not yet the time, we still have large peaks of liquidations of longs in the south on several crypto and especially on the BTC the leader of the crypto market.
Possible retracement of the S&P 500 if we get rejected from the 4000
- Three bearish divergences via: RSI / MACD / OBV
- Key resistance level at 4000 in confluence with 61.8%
- The S&P 500 in Daily is Bullish after closing above the last high and especially above the Ichimuku cloud, but the problem is with a small green candle and no volumes via the OBV and the MACD
https://www.tradingview.com/x/DxCvCXwC/
Everyone who withdraws their cryptos from the exchanges to the decentralized wallets, it will change the game, I think the Defi with the DEXs will take the volumes, it will now be the regulation on the CEXs with the proof of reserve that each exchange must provide.
The bear market is doing the heavy lifting of zombie projects along with Halloween, death will take who next to squeeze longs down at 14K to 12K? Possible projects that will fall after FTX.
The cycle of anger has already started, and soon the depression once we will have sought towards 14K, it remains very good levels for DCA in the range of the death of zombies (FTX...).
Possibly I'll take shorts if we bounce back like we do during the anger cycle on the image to trap the last shorts and fomo the longs before moving on to the last cycle of depression, and finally trap all the longs.
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