2021-09-22 23:56:40
Market Update
- BTC dominance sitting on 42% and ranging between 40% to 44% in the last days, we can expect it range there 7-14 days - this means we have consolidation time.
- S&P500 seeing recovery as we write it with bullish divergence and we hope to see it goes up another 3-5% until Friday.
- BTC support level 40k tested almost twice and so far it seems like there are more buyers than sellers there. This does not mean it can not be broken if tested again and in that case we can see BTC back to 36k levels.
- last news about China to bail out Evergrande are positive to market recovery
In
conclusion we have signs for optimism, trade safe, use stop losses.
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