No longs #2

2022年5月19日

Morning folks,

Fundamentally, crush of stock market recently, hawkish speech from J. Powell and J. Yellen and terrible US statistics keep us aside from any long positions by far.

Technically - appearing of bearish grabber on Monday and tail close yesterday looks bearish. Besides, on the daily chart bullish trend by MACD and bearish price action suggest of existence of bearish dynamic pressure. On intraday charts market also has broken the natural way of upside action, ignoring even near standing targets. This makes us think that BTC very soon could return back to the lows.

Maybe later we get some proper reaction on strong support area, but not yet. Those who have bearish positions since Mon - could keep them, just do not forget to manage the stop orders.