BTCSHORTS: BTC rally stalls; a bigger capitulation may be needed
BTCSHORTS chart seems to have found a temporary support & may reverse up for a bigger BTC capitulation to continue in the 2nd part of May. We may see a rally in June up to late July. Then another in 4Q2022 leading into Jan2023.
All risk assets tumbled Wednesday 18May into the worst down day since pandemic despite DXY $ index & TNX 10-yr yield retracing, increasing the odds of a STAGFLATION. (a stalling economy with rising interest rates which is really bad).
The 10-yr yield not only shows the health of our economy but also inflation expectations. For now, inflation is still rising but economic growth & consumer demand is already decreasing.
There is still no catalyst suggesting that the relief rally can be sustained.
Not trading advice
All risk assets tumbled Wednesday 18May into the worst down day since pandemic despite DXY $ index & TNX 10-yr yield retracing, increasing the odds of a STAGFLATION. (a stalling economy with rising interest rates which is really bad).
The 10-yr yield not only shows the health of our economy but also inflation expectations. For now, inflation is still rising but economic growth & consumer demand is already decreasing.
There is still no catalyst suggesting that the relief rally can be sustained.
Not trading advice
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