Yesterday I did an analysis on the S&P 500 except I forgot to add a detail which is the high confluence on a possible rebounce to look for the next resistances and at the same time trap the shorts before continuing the down trend or may be the return of buyers, but until then we'll see!
The high confluence in Daily:
- The 50% Fibo that we bounced perfectly above yesterday.
- The MA 62 as support.
- The hidden bullish divergence on the RSI
- The trend line as support.
https://www.tradingview.com/x/B7Sa1jRm/
- S&P 500 Yesterday's analysis: https://www.publish0x.com/the-king-of-crypto/the-s-and-p-500-is-falling-since-last-friday-and-bitcoin-don-xnnnqww
After the Fed's announcement last Friday to continue raising interest rates, many started shorting BTC with large leverage between 10X and 20X, and this is visible on the liquidation map via the large spikes between $21,000 and $21,500
I think the S&P 500 will be the first to look for the liquidations of shorts above 4000 towards 4225 and BTC won't hesitate to follow!
Slight increase in the Bitcoin Balances on Exchanges, with +4836 BTC which has just arrived, it is not bullish! but never take a single indicator alone to follow a direction, so to do the pros and cons on multiple indicators, and if our bias is established we can make the decision.
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