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 (:
For the best experience view this post on Liketu
Thanks for explaining the graphical part along with your insights.
I see you have posted in the LeoFinance Community before. For future reference this type of post would better fit in that community as the OCD Community is for general topic posts that do not fit in any of the other communities.
Thank you ~
Got it! I will. Thank you.
I just wanted to reach a different audience.
I definitely understand that. We are guiding people to post in the appropriate communities based on the topic of their content. Communities are constantly growing on Hive and it makes for a better experience posting with like-minded people who are also interested in the same topics. Those who want to learn more about crypto topics will hopefully browse through that community to find posts like yours ;)
You can also crosspost here after first submitting your post in the appropriate community ~
...well my post and chart wasn't exactly about a crypto - aha! you didn't read it </3
I'll be posting somewhere else next time. I promise.
- EvM
Lol well for a better choice of words I didn't understand it. When I see charts and numbers I get dizzy. So it was just easier for me to sum it up as crypto.
Thanks for your attention to this though. Take care ;)