The price action for June 2022 was marked by a drop in all Risk Assets (stocks and cryptocurrencies) from the first of the month followed by a recovery mid-June and now finally a retest of the June low by the end of the month.
The relative recovery of the mid-June bullish Retracement indicates the strength of these risk assets and may foretell future recovery and/or potential downside should the June low be broken in the near future.
Bitcoin
BTCUSD shown in this post recovered only 30% of the down trend during the pullback.
Ethereum
ETHUSD recovered slightly more by 35% of the down trend:
Meanwhile in stock world the S&P 500 represented by futures
ES1! recovered with more strength by 54%:
The Nasdaq
NQ1! recovered 64%:
What these different relative strength recoveries imply to me is that the stock market is showing more signs of recovery than the cryptocurrency sector in the near term. The implication to this current relativity is that the stock market may recover its losses faster than cryptocurrency. It also implies that cryptocurrency is weaker and breaking the June low in the near future could lead to even greater losses relative to stocks and past price action.
The relative recovery of the mid-June bullish Retracement indicates the strength of these risk assets and may foretell future recovery and/or potential downside should the June low be broken in the near future.
Bitcoin
BTCUSD shown in this post recovered only 30% of the down trend during the pullback.Ethereum
ETHUSD recovered slightly more by 35% of the down trend:Meanwhile in stock world the S&P 500 represented by futures
ES1! recovered with more strength by 54%:The Nasdaq
NQ1! recovered 64%:What these different relative strength recoveries imply to me is that the stock market is showing more signs of recovery than the cryptocurrency sector in the near term. The implication to this current relativity is that the stock market may recover its losses faster than cryptocurrency. It also implies that cryptocurrency is weaker and breaking the June low in the near future could lead to even greater losses relative to stocks and past price action.
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Discord Trading Community: discord.gg/eDfhKvS5AC
Youtube: youtube.com/c/NoroksNotepad
Twitter: twitter.com/noroktrade
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"Be to others the person you needed to meet 10 years ago"
Discord Trading Community: discord.gg/eDfhKvS5AC
Youtube: youtube.com/c/NoroksNotepad
Twitter: twitter.com/noroktrade
Discord Trading Community: discord.gg/eDfhKvS5AC
Youtube: youtube.com/c/NoroksNotepad
Twitter: twitter.com/noroktrade
免责声明
这些信息和出版物并非旨在提供，也不构成TradingView提供或认可的任何形式的财务、投资、交易或其他类型的建议或推荐。请阅读使用条款了解更多信息。