Why are we falling? The thing is that the stinky crypto is currently correlating heavily with the stock market, which has dropped -4% this week (for those who don’t know, that’s a lot for the stock market, especially for the index).
According to the technical analysis, the nearest correction targets for the S&P are 5700 (that’s another 4% correction), especially since the week's close at lows gives reason to continue in that direction.
Is this the end of the bull market? Most likely not; at least for a more substantial correction, something must happen, so I think funds will buy back and crypto will wake up, but it can still shake things up significantly.
Also, today there was a very interesting event in the final voting of the House of Representatives of the U.S. Congress voted against the Trump-supported plan for temporary funding of the U.S. government. Now lawmakers have one day left to agree to avoid a shutdown.
If they don’t manage to do it. Then this correction will seem like a walk in the park, but I think they should manage it with 90%.
P.S. just like in the good old American movies. Everything needs to be done in the last seconds 🙂. Get it done by the end of Friday )
I'm sure you couldn't make money on this news. On my parallel channel, I explain how to trade news, make money from retro drops, and earn from arbitrage, so if you don’t want to end up at the end of the bull market in torn pants, Pavel Durov will tell you where to find me 😏
Max_pro_crypto
