Equities have been rising together with crypto. What's next?
Along with crypto, the S&P 500 has also seen some gains, together with a structure break from the bottom, which BTC hasn’t marked. The index is now trading at its June range, without intention to go back below $400 for now…
I’ve plotted on the chart a few things that have defined price action in the last months, but my general bias is that there has been quite a lot of sentiment change in the last days, and we definitely need a pullback to go higher.
We see that a week ago it retested and swept the $391 high, and from there the SPY moved up until the nPoC of June’s range. It has rejected on this Monday session, so I expect it to retest 1h OB at $400. After that, a move to $428 is expected: there is confluence between the gap you see and the ATH anchored VWAP (price has barely gone above it).
In conclusion, this lines up with the price action I expect for BTC as well, so we may see…
I’ve plotted on the chart a few things that have defined price action in the last months, but my general bias is that there has been quite a lot of sentiment change in the last days, and we definitely need a pullback to go higher.
We see that a week ago it retested and swept the $391 high, and from there the SPY moved up until the nPoC of June’s range. It has rejected on this Monday session, so I expect it to retest 1h OB at $400. After that, a move to $428 is expected: there is confluence between the gap you see and the ATH anchored VWAP (price has barely gone above it).
In conclusion, this lines up with the price action I expect for BTC as well, so we may see…
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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.