I've been looking at the major US indexes (SPX, DJI & NDX), as well as some of the TOP Altcoins within the cryptocurrency market (Ethereum, Cardano, Solana, Polkador), they are all bearish right now on the major/weekly timeframe.
This week we saw mentions in the "news" about Bitcoin and the S&P 500 Index detaching... Sounds fishy. Maybe detach over the weekend so we get a surprise dump on Monday...
We have a strong downtrend with Bitcoin since November 10 and we were expecting a bounce and the bounce took place.
Bitcoin set the low at $32,950 and bounced to $45,850, that's 39%, really strong.
This same level where we are seeing a rejection now matches EMA50 and EMA10 (around $44/$45,000).
The weekly candle hasn't close though, it closes in 6 hours from now but the bears are getting the upper hand on this chart.
There is some potential to see the Altcoins growing, the smaller ones, while Bitcoin and the major ones correct but, there is always an initial strong reaction if the big ones drop where everything drops... We just wait, it recovers in a few days.
Stay calm. Keep a calm mind.
As spring comes (March) everything moves ahead (UP/GREEN!).
thank you for sharing!