Massive Bearish Signal - Expect a big move to the downside!
The present circumstances clearly indicate that the closing price has descended below the 20-week simple moving average (WSMA), a historical signifier of notable bearish market trends. While it is acknowledged that the 20 WSMA is not an infallible indicator, observing its historical behavior reveals a consistent pattern of significant downward movements in price. Consequently, it is logical to anticipate a substantial downward shift based on this historical precedent.
The bear market probability index is currently at an all-time high, which suggests that the ongoing rally could be considered the biggest bull trap ever witnessed in the history of Bitcoin. While relying on a solitary model is insufficient for drawing definitive conclusions, numerous indicators suggest a downward price trend in this case.
The US interest rate has reached the same level as it was during the onset of the 2008 Financial Crisis market decline. This should be taken into consideration. Despite this, on Twitter, someone claims almost every other day that BTC will reach 100k soon. However, in my opinion, this is complete nonsense. Given the current state of the financial market, it's not ready for a sustained uptrend.
Lastly, the market is experiencing a notable increase in fear, likely due to multiple factors simultaneously impacting the market. Based on historical precedent, it is reasonable to anticipate significant downward market movements should prior trends repeat themselves.
With regards to DXY
The current market analysis indicates a significant double-bottom reversal in the DXY index, with expectations of reaching a minimum index level of 105 soon. Moreover, should resistance zone 1 be surpassed, a subsequent movement towards resistance zone 3 is expected!
It is crucial to note that if the DXY index maintains its upward momentum, it may exert considerable downward pressure on both the stock and cryptocurrency markets. Consequently, it is advisable to closely monitor the movements of the DXY index, particularly for those involved in stock or cryptocurrency investments.
The bear market probability index is currently at an all-time high, which suggests that the ongoing rally could be considered the biggest bull trap ever witnessed in the history of Bitcoin. While relying on a solitary model is insufficient for drawing definitive conclusions, numerous indicators suggest a downward price trend in this case.
The US interest rate has reached the same level as it was during the onset of the 2008 Financial Crisis market decline. This should be taken into consideration. Despite this, on Twitter, someone claims almost every other day that BTC will reach 100k soon. However, in my opinion, this is complete nonsense. Given the current state of the financial market, it's not ready for a sustained uptrend.
Lastly, the market is experiencing a notable increase in fear, likely due to multiple factors simultaneously impacting the market. Based on historical precedent, it is reasonable to anticipate significant downward market movements should prior trends repeat themselves.
With regards to DXY
The current market analysis indicates a significant double-bottom reversal in the DXY index, with expectations of reaching a minimum index level of 105 soon. Moreover, should resistance zone 1 be surpassed, a subsequent movement towards resistance zone 3 is expected!
It is crucial to note that if the DXY index maintains its upward momentum, it may exert considerable downward pressure on both the stock and cryptocurrency markets. Consequently, it is advisable to closely monitor the movements of the DXY index, particularly for those involved in stock or cryptocurrency investments.
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Generational wealth opportunities are coming!
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Expecting a big move!
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The month of July is going to be interesting! Expecting big move to the downside!
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Imagine the volatility when the stock market starts its descent! S&P has been in an uptrend for the past few months, and it will soon end. The RSI (For S&P)on the daily is in the oversold territory!
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