Now that the big spike at 20.5K is gone, and then we have the Longs trying to catch the falling knife, I'll let you imagine what happens next.

Many indicators are starting to show a sign of a continuation of the bearish trend on BTC:
- The S&P 500 in the process of being rejected from the 4000
- The DXY bounced off the 105.
- The disappearance of the giant peak at 20.5K and the appearance of new peaks to the south.
- A missile can come from anywhere
- The dominoes that still fall after FTX.

There is also some good news, but at the moment it's stretched and the price is consolidating in an accumulation range before a next distribution at 20K or 14K, and given the pros and cons, it's possible that we will go first at 14K and even lower before 20K!!!

The S&P 500 has been blocked between the 61.8% fibo as resistance and the top of the Ichimuku cloud as support for 5 days now.

Looks like the battleground between bears and bulls.

The bear market is in favor of bears who often tell the truth, unlike bulls who are bluffing with fake break outs, so pay attention especially to the exit from the top, instead of a rejection which has more chance to send us below!!!

https://www.tradingview.com/x/mB8DUOwE/ 

The Dollar index DXY doing the inverse of the S&P 500 and BTC.

DXY bounced off the key support level at 105 with a Long Wick Candle, inversely to the S&P 500 which got rejected from 4000.

The DXY broke the bullish pattern via the Daily candles moving down from the last low at 109.2 which became resistance, and down the Ichimuku cloud and the MA 62 in blue, possible we are just doing a rebound to retrace the decline before being rejected and confirming the reversal in Weekly.

https://www.tradingview.com/x/aFuJuKFO/ 

DXY in Weekly:
For the moment the structure is bearish in Daily but still bullish in Weekly, since we have not yet broken the last low at 105, and we are above the Ichimuku cloud and the MA 62 in blue with a bullish divergence on the RSI.

https://www.tradingview.com/x/UQmpalhD/ 

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