We are given 3 scenarios in the Daily chart and all of them include a rebound of some sort obviously , but what is interesting is the levels we can get with them.
1st scenario - Rebound on the top of the last known demand zone, dating back to DEC 2020.
2nd scenario - Entering a range in that demand zone and finally leaving on the upside.
3rd scenario - Ranging in the last demand zone then leaving on the downside towards the 20k level. Not really a good thing, as many institutionals might cut off or be forced to cut off part of their investments, causing further selloffs . This is also a place where a lot of stop losses are found, so more sell pressure.
Fun fact - El Salvador has an average entry price of around $43k.
Fundamentals
- US CPI stayed high despite expectations of a slight drop, causing a selloff in the stock market and of course crypto.
- Investors are wary on how the FED will tackle the still increasing inflation
- US inflation hasn't yet peaked
- EU - Ukraine tensions still present
- Markets in ASIA are down aswel , people getting out of the latest lockdown.
Key note: This isn't a time to panic, this it the time where you take your pen and paper and note your DCA entries.
1st scenario - Rebound on the top of the last known demand zone, dating back to DEC 2020.
2nd scenario - Entering a range in that demand zone and finally leaving on the upside.
3rd scenario - Ranging in the last demand zone then leaving on the downside towards the 20k level. Not really a good thing, as many institutionals might cut off or be forced to cut off part of their investments, causing further selloffs . This is also a place where a lot of stop losses are found, so more sell pressure.
Fun fact - El Salvador has an average entry price of around $43k.
Fundamentals
- US CPI stayed high despite expectations of a slight drop, causing a selloff in the stock market and of course crypto.
- Investors are wary on how the FED will tackle the still increasing inflation
- US inflation hasn't yet peaked
- EU - Ukraine tensions still present
- Markets in ASIA are down aswel , people getting out of the latest lockdown.
Key note: This isn't a time to panic, this it the time where you take your pen and paper and note your DCA entries.
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