Nasdaq Weekly chart to understand #Bitcoin move
May 15: #Nasdaq: As #bitcoin is showing correlation with US market, We will see what #Nasdaq chart says.
-RSI 30: Chart showing that world biggest index is oversold area and whenever it reach RSI 30 on weekly chart, it give very strong bounce in last 3 years
-30% Correction: Nasdaq 30% correction in last 6 month, Same as March 2020, during Covid19 while situation is not so bad compare to during Covid 19.
-Dragonfly doji: Nasdaq is showing correction for last 6 weeks but Last weekly candle is dragonfly doji which indicate that market can bounce from here in coming weeks.
-Sentiment is negative, Everyone talk about recession and So whales can give surprise all with short term noise.
-Support: Last week bottom is support for Nasdaq, 2nd support is 200 weekly Moving average.
#Bitcoin: If Nasdaq bounce in coming week, than we will see bounce in #BTC too which next target near
36K-37k as a relief rally at least. 37k is resistance and 28k will be support on daily chart.
-RSI 30: Chart showing that world biggest index is oversold area and whenever it reach RSI 30 on weekly chart, it give very strong bounce in last 3 years
-30% Correction: Nasdaq 30% correction in last 6 month, Same as March 2020, during Covid19 while situation is not so bad compare to during Covid 19.
-Dragonfly doji: Nasdaq is showing correction for last 6 weeks but Last weekly candle is dragonfly doji which indicate that market can bounce from here in coming weeks.
-Sentiment is negative, Everyone talk about recession and So whales can give surprise all with short term noise.
-Support: Last week bottom is support for Nasdaq, 2nd support is 200 weekly Moving average.
#Bitcoin: If Nasdaq bounce in coming week, than we will see bounce in #BTC too which next target near
36K-37k as a relief rally at least. 37k is resistance and 28k will be support on daily chart.
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Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.