In the past days, we made a general analysis of BTC-World stock markets.
We saw hard selling in the market on Thursday and Friday.
I think this is because the Fed's emphasis on stability in inflation.
Regardless, when the risk of recession becomes heavy, interest rate hikes will come to an end. Of course, this may take some time. I expect the recent sharp declines to continue.
When we examine the weekly chart of Bitcoin;
We can better understand that this week's sale is very tough.
If this sharp decline after the rise is an A correction wave, it should have a 5-wave structure. (impulse wave) I expect the decline in general stock markets to continue next week. Bitcoin may respond to the downward movement of the Nasdaq (technology) stock market in the same direction.
We saw hard selling in the market on Thursday and Friday.
I think this is because the Fed's emphasis on stability in inflation.
Regardless, when the risk of recession becomes heavy, interest rate hikes will come to an end. Of course, this may take some time. I expect the recent sharp declines to continue.
When we examine the weekly chart of Bitcoin;
We can better understand that this week's sale is very tough.
If this sharp decline after the rise is an A correction wave, it should have a 5-wave structure. (impulse wave) I expect the decline in general stock markets to continue next week. Bitcoin may respond to the downward movement of the Nasdaq (technology) stock market in the same direction.
