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.
"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
면책사항
해당 정보와 게시물은 금융, 투자, 트레이딩 또는 기타 유형의 조언이나 권장 사항으로 간주되지 않으며, 트레이딩뷰에서 제공하거나 보증하는 것이 아닙니다. 자세한 내용은 이용 약관을 참조하세요.
"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
면책사항
해당 정보와 게시물은 금융, 투자, 트레이딩 또는 기타 유형의 조언이나 권장 사항으로 간주되지 않으며, 트레이딩뷰에서 제공하거나 보증하는 것이 아닙니다. 자세한 내용은 이용 약관을 참조하세요.