Rejection from the golden pocket

2022年4月25日

Call the bear a bear. The market is currently in a bearish phase. This is due to a confluence of macro economic factors and many other signs of recession. I am a BULL when it comes to crypto but we cannot ignore this bearish signs. The most recent weekly close has done a rejection of the golden pocket and will continue to trend lower. With its high correlation with the stock market, I expect it to go a lot lower before bottoming out. Despite being so low, weekly RSI has yet to hit its lows. I’m sorry but lets prepare for the worst and pray for the best. Close your longs and have tight stop loss. Not financial advice, at own risk.