BTC is still follow its price channel, it has simply gapped to replace the gap that gapped originally for its gap. Make no mistake, this is just noise in the overall market. The trends from the past 3 months show a significant downtrend.
SPY will have an immediate decrease because it is Monday, which is usually a weak day for stocks. Additionally, the market has been teetering, and with it reaching the previous all-time highs, there is no way it can break through and hold.
SPY has no momentum either way right now with the various instances going on. Looks week on the upside to me, personally, but it could still push up this week.
Too much uncertainty with the US economy, combined with negative pointing indications. Definitely going down short term. 2 possible rally points for Monday, either the 297 support line, or the next 296 support line. If both of these fall, then it will be a very very very hard climb back up. I wouldn't go long on SPY for a while, just to be safe.
Rough days for SPY ahead.
This chart & its indicators are complicated and slightly convoluted; it's not for everyone. I recommend you expand the chart indicators and read the names. Read the chart lines and understand the different indicators & what they're showing.
Anyway, time for my trend guess: with the China economy slowdown, the upcoming US inquiries into...
For now, it will be decreasing because of fear. Future, it will hit that support line and rise again, only to be beaten down by the next worry in the coming years of the recession XD
