Macro levels discussed: bearish scenario
1: wave 3 bottom at 15k, 4th wave 30k (where we are now) and looking for 10-13k for 5th wave/ A. -> wave B corrective move up and the C move below 10k
bearish scenario 2 and most likely imo at this time: 5th wave/A was the 15k B wave was the 30k (where we are now), and C wave down to 7-10k
Bullish scenario in the 3rd wave of 1st major move up from the 15k low and looking to hit atleast 50k.
30k,25k and 21.5k are my major resistance and support levels at this time
Other question I have right now is has bitcoin and the market broken away from each other? Bitcoin is floundering at this point while S&P still pumping. I personally still think they are correlated. If bitcoin has hit a top, I think S&P could be late to the game and is still in the range under 4550 to have a B top and continuation downwards. On flipside bitcoin can still pump here as SP is.
not financial advice
1: wave 3 bottom at 15k, 4th wave 30k (where we are now) and looking for 10-13k for 5th wave/ A. -> wave B corrective move up and the C move below 10k
bearish scenario 2 and most likely imo at this time: 5th wave/A was the 15k B wave was the 30k (where we are now), and C wave down to 7-10k
Bullish scenario in the 3rd wave of 1st major move up from the 15k low and looking to hit atleast 50k.
30k,25k and 21.5k are my major resistance and support levels at this time
Other question I have right now is has bitcoin and the market broken away from each other? Bitcoin is floundering at this point while S&P still pumping. I personally still think they are correlated. If bitcoin has hit a top, I think S&P could be late to the game and is still in the range under 4550 to have a B top and continuation downwards. On flipside bitcoin can still pump here as SP is.
not financial advice
