BTC, DXY, S&P500, QQQ, HOUSING, Volatility is back - WRECKTEMBER

3 ก.ย. 2022

(BTC) After 54 days of the uptrend from the lows the 18 June at $17,6k, going up to $25,1k, for a 42% gain in the middle of a bear market, the bull trap has been confirmed with a downtrend of 22% the day I am writing this in 22 days!
The Short BTC target in this downtrend is $18,3k it probably won't hold and re-test the 18 June lows at $17,6k for either make a double bottom or break and go straight to $13,5k; who is the Fibonacci speed resistance fan 0,75 line, whose during the last bear market BTC touch three times during 1year, before his last halving.


(DXY) The USD dollar is sitting on a 16-year resistance trend line, forming a double top from the 14 July high at 109,2$, drawing a rising wedge and making it bearish. The rising wedge is not confirmed until it breaks 107 to 105 on the downside.



(QQQ and S&P 500)
QQQ = -12% from the latest high this summer is sitting on the Fibonacci retracement 0.236 at 293$
S&P 500 = -9% from the latest high this summer is sitting on the fibonacci retracement 0.236 at 3916$
A rebound is expected for both in the short term due to the Fibonacci resistance and the DXY possibly dropping, but new lows are expected in the long term due to the macroeconomy in the US, China and EU.



UNITED STATES NEW HOME SALES have dropped to -50% from $1 million to 511k in 2 years. The last time this happened was during the crisis in 2007-2008, and it dropped to -81% in 5 years, meaning that it is probably just the beginning of the housing market crash.
https://www.census.gov/construction/nrs/pdf/newressales.pdf


Not Financial Advice