#BTC #GOLD #USD - Start of the Month and hard #Economic #News

in Account Booster 👍2 years ago

Hello fellow #steemians

Today I just want to remind you that with this start of the month there are a lot of economic news, and the most important being the #US #Manufacturing #PMI

Being careful with this, because the economic data has a great chance of being a little bit better than last month, and this will bring even more strength to the US dollar. With a strong dollar other assets will be bearish and if we look into the higher timeframes, we can expect the next:

#GOLD

image.png
https://www.tradingview.com/x/EF2hDgcx/

image.png
https://www.tradingview.com/x/w6RqGGMz/

Scary question mark? or opportunity question mark?

#BTC

image.png
https://www.tradingview.com/x/RBk09HzX/

As you can see, BTC has a lot of downwards potential, the weekly candle already made its upper wick and with good economic data, BTC will be worth "less" dollars. So we can expect a retest of the lows at $17,5XX area.

image.png
https://www.tradingview.com/x/mp0MonEr/

If we break that support... we can expect to visit the $13k area. --- then you can start your #dollarcostaverage #dca #strategy.

Monthly time frame... you can tell me how #bullish we look??? NOTHING AT ALL!!!!
In my PERSONAL point of view #BTC will visit previous monthly support and it can even wick to the 10K area.

image.png
https://www.tradingview.com/x/nwpQSTNx/

#USD #dollar

Now you tell me... how bullish the #dollar #index looks?
We still have a few points to the previous highs

image.png
https://www.tradingview.com/x/W2HftiSP/

With #recession in almost every country in the world, #high #interest #rates and all over the world #bad #economic #data
#dollar being the world reserve currency will have a lot of demand and as #safe #heaven it will increase in value while the pairs traded against it will decrease just as a consequence.

Be careful and trade accordingly to your own research, the statements here are only my opinion and a medium term point of view. THIS IS NOT FINANCIAL ADVISE!!!

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 2 years ago 

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