Hello Hivers!
Today I've started looking at the S&P 500 Index looking for a perspective on the upcoming movements of the global markets... after all, we're in crypto, right?
If you see the above graphic and don't understand anything about it, let me tell you what it is all about. Right now we have broken many important levels downwards, so we might hope to see a continuation to the downside for the first few months of 2023. However, in order to pick up "momentum" (liquidity in this case) the asset should see an increase to the Daily and H4 points of interest.
My personal expectaction would be for the asset to have a combined upward movement of at least 3.80% (with a potential maximum increase of around 9% - more or less) to reach these important zones. If it manages to do so, we will be looking to short it.
The potential move downwards could bring us to the zone of previous support which is around the $3491.58 area. Moreover, if this zone is broken, we could see a continuation downwards to the next important zone of interest around the $3304.93 down till $3233.94.
This is one probability that, in case of occurring as we think, might give us profit despite the decline in the general markets (just for you to know, the S&P 500 or just SP500 Index is strongly correlated to the entire US market and more lately to the BTC - ergo, the entire crypto market.)
This is all for today, thank you very much for your attention and time. Get ready for the times ahead. Rain is not a problem if we bring our boots and umbrella (:
