The BTC balance on the exchanges is largely positive with +13K BTC over the last 24 hours, finally it's huge and it doesn't happen every day in the bear market except to prepare for a Bull Trap.
What I can conclude from this is that the whales are afraid given the macro news which is not terrible, so they continue to bring their BTC via their decentralized wallets to sell them on the exchanges if the S&P 500 will go down and especially at the bottom of the 3900!
The DXY continues its bull run with a new high towards 109, and it is not in favor of the BTC!
DXY is losing momentum on the MACD with weak buyers, and potential bearish divergence to be confirmed on the RSI.
The DXY is trying to move to another level above, but the buyers are starting to show a sign of waekness and the sellers are trying to reverse the trend at least in the short term on Daily, it's possible that we will have a return of liquidity on the assets risky like stocks and cryptos so that the market can go high a little and especially trap the Shorts!!!
https://www.tradingview.com/x/qQtIBe28/
I shared on 08/28 an analysis on the DXY about a possible confirmation of the bearish divergence which will be canceled if the OBV goes up at the same time as the price and it's the case for the moment but to see the Weekly closing tomorrow!
https://www.publish0x.com/the-king-of-crypto/possible-reversal-on-the-btc-in-negative-correlation-with-dx-xrggoyn
The S&P 500 broke its support level at the 50% Fib, the MA 62 and the red trend line.
Today we are on the key zone support area which has rejected the price 3 times above and also 2 times as resistance.
The zone between 3900 and 3920 to watch! Are we going to cross it and look for the next support or just bounce on it and go up?
I think we will have volatility and the answer from today until tomorrow night!
https://www.tradingview.com/x/7Dtr3yA2/
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