Part 2 : Let's proceed to bitcoin analysis. Just like with S&P500, I am looking for continuation of downside momentum, the preferred option is price test of demand zone of 17.5-19k$ to collect liquidity with possibility of updating previous low. I would not consider longs on bitcoin while we are trading lower in range or below Candlel 1. ($22k). In the second scenario, if we consolidate at $22k, then it makes sense to look for longs to our resistance zone ($25k), but this option is more unlikely due to the current macroeconomic situation.
All parts are in my tradingview page!
All parts are in my tradingview page!