On the Dollar index DXY we have a large red Weekly engulfing candle which breaks the trend line 5 times from below as support, and the last low at 108.
Normally it's a big bullish signal on the S&P 500 and the BTC, except as we see on the BTC liquidation map more long to liquidate before going north and possibly it will be the Bottom around 14K to 15K when everyone will be waiting for 10K or lower, with more shorts to clear, but until then we'll see!!!
https://www.tradingview.com/x/uFmHkEsN/
There is Fomo on the BTC with long liquidations towards 14K and especially close to the price (big leverage).
Attention the markets makers their objectives is to win the maximum by losing the minimum, so to lose the majority and win the minority. Example on the price of BTC attracted by pockets of liquidity via stops losses and liquidations.
Pros Vs Cons:
For a rise:
- Falling inflation has driven the stock and crypto market higher.
Against a rise:
- Long liquidations at 14K
- We are in a strong downtrend, the price may continue in the direction of the trend for weeks.
- FTX and bad surprises every day, domino effect!
https://www.tradingview.com/x/Oibl9BpL/
👉 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.
📈 Bybit: Get up to 4030 USDT in rewards just by signing up!
https://www.bybit.com/app/register?ref=7Wgmj
📈 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
