BTC Daily Technical Analysis: Massive Peaks of liquidation upper for a Potential "Buy to Sell" to calm shorts.steemCreated with Sketch.

in LAKSHMI2 years ago

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  • Liquidation Map:
    High peacs of Short liquidations on north! So if the shorts will not closing their positions, they will get liquidated, or the longs will be back massively again for the bull trap to the south, before the bear trap!!!
  • S&P 500:

The S&P 500 in short-term is bullish , and medium-term is bearish.

The RSI is on an overbought level which sent the price lower since the beginning of the decline in January 2022 with hidden bearish divergence to be confirmed

Possible rejection by resistance at 4162 tested several times recently, and 3 times as support, but before rejection in my opinion there will be a short squeeze towards 50% fibo at 4187 (from last ATH to last bottom) via a wick above the last top at 4177.5.

https://www.tradingview.com/x/ThKce7mv/

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  • BTC:
    If the S&P 500 will continue its short-term bullish trend, BTC may also arrive to its next resistance at 25.5K around 61.8% fibo in confluence with the trend line as resistance.

https://www.tradingview.com/x/GN3edlSk/

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  • DXY:
    I don't forget the daily bullish divergence on the DXY that can make BTC and S&P 500 bearish, except that we can have a double divergence on the RSI before the bullish recovery on the price and the continuation of the bull run on DXY and the bear market on BTC, as we have done 3 times in the past on DXY.

https://www.tradingview.com/x/M3HdMK8p/

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