The Long Investor

$BTC TOP 20

Added 2025-01-08 10:35:52 +0000 UTC

$DXY and US 10 YR increasing, coupled with JOLT data being strong and Trumps comments caused the market and crypto to react badly yesterday.

Strong pull back but so far just to test important levels

For now, there is a test of a higher low again on the 2.618 Fib level, which we can see is also the 0.618 Fib level for a small pull back.

Right now there is no concern, a lower low below the late Dec level at $91k will mean that the trend is to downside....what is clear is that $BTC and $SPY continue to move in sync, so if $BTC makes a lower low then I suspect $SPY will do the same, as both are already below their 50 Day MA right now.

We have been here before over the last 2 weeks and the market recovered, so again, lets give the price action a chance to recover the 50 Day MA and keep the trend moving to the upside, for what we believe is the final rally up.