Market update $BTC :
A lot has happened this week. Since the start of the week, we have seen:
1_ Over $5 billion in LONG positions liquidated
2_ A billion-dollar bloodbath in the Asian market
3_ A stock market crash: the S&P 500 index is down 1.26%
The Nasdaq index is down 2%.
More than $1 trillion has been wiped off stocks.
4_ The Fear and Greed Index fell to 49
We have only two possible scenarios:
1_ A rise from current levels, targeting the largest liquidity cluster at 88k, since every time the price touched the MA50, we saw an upward move and it did not fall back below it.
2_ Another leg down to 77k_78k, followed by a sharp upward move to 88k.
Stay safe. 🙏🏻
A lot has happened this week. Since the start of the week, we have seen:
1_ Over $5 billion in LONG positions liquidated
2_ A billion-dollar bloodbath in the Asian market
3_ A stock market crash: the S&P 500 index is down 1.26%
The Nasdaq index is down 2%.
More than $1 trillion has been wiped off stocks.
4_ The Fear and Greed Index fell to 49
We have only two possible scenarios:
1_ A rise from current levels, targeting the largest liquidity cluster at 88k, since every time the price touched the MA50, we saw an upward move and it did not fall back below it.
2_ Another leg down to 77k_78k, followed by a sharp upward move to 88k.
Stay safe. 🙏🏻