Afternoon all,
Full TA in the video as usual. Some notes:
- Bulls tried very hard last night to get something out of the week in a daily candle close above the previous but failed. Intense sell pressure
- The weekly close is signalling a bearish reversal. IMO we might see another red weekly candle despite any relief rally from the bulls
- Keep an eye on the potential trading range, bulls and bears tusling for position. A break down from the bottom of the range 16698 may lead towards further downside.
- Premarkets were green but turned red within minutes of open. SPX and NASDAQ dropping and Bitcoin moving with it.
- Some bullish divergence coming in on the 4hour which might result in a light relief rally.
- Bitcoin dominance is still moving upwards - watch your alt coin positions. IF dominance pumps and BTC moves lower your alt coins will get rekt.
- USDT Dominance moving higher. Traders moving back into USDT and waiting on the sidelines. Sensible!
- SPX, NASDAQ and ES1 are all trading under strong resistance. Another rejection could trigger a swift drop lower. Take a look at previous video.
- Lower low confirmed on the daily time frame signalling a possible new down trend. Bare that in mind when trading.
- A lower high would confirm the downtrend.
- Overall looking bearish
Events
NOTE: Thursday 22nd - Jobless claims data is out.
Initial jobless claims have a big impact in financial markets because unlike continued claims data which measures the number of persons claiming unemployment benefits, Initial jobless claims measures new and emerging unemployment.
PCE price index data in on Friday!
Be patient and stick to your strategy!
Please hit the boost button if you like this update.
Back tomorrow.
Thanks
SIMON BPOI
Full TA in the video as usual. Some notes:
- Bulls tried very hard last night to get something out of the week in a daily candle close above the previous but failed. Intense sell pressure
- The weekly close is signalling a bearish reversal. IMO we might see another red weekly candle despite any relief rally from the bulls
- Keep an eye on the potential trading range, bulls and bears tusling for position. A break down from the bottom of the range 16698 may lead towards further downside.
- Premarkets were green but turned red within minutes of open. SPX and NASDAQ dropping and Bitcoin moving with it.
- Some bullish divergence coming in on the 4hour which might result in a light relief rally.
- Bitcoin dominance is still moving upwards - watch your alt coin positions. IF dominance pumps and BTC moves lower your alt coins will get rekt.
- USDT Dominance moving higher. Traders moving back into USDT and waiting on the sidelines. Sensible!
- SPX, NASDAQ and ES1 are all trading under strong resistance. Another rejection could trigger a swift drop lower. Take a look at previous video.
- Lower low confirmed on the daily time frame signalling a possible new down trend. Bare that in mind when trading.
- A lower high would confirm the downtrend.
- Overall looking bearish
Events
NOTE: Thursday 22nd - Jobless claims data is out.
Initial jobless claims have a big impact in financial markets because unlike continued claims data which measures the number of persons claiming unemployment benefits, Initial jobless claims measures new and emerging unemployment.
PCE price index data in on Friday!
Be patient and stick to your strategy!
Please hit the boost button if you like this update.
Back tomorrow.
Thanks
SIMON BPOI
BPOI - CRYPTO TRADING GROUP
