Holders & buyers are in for a rough ride

25 בספט׳ 2022

The crypto market has been shaken up by macros like it has been over and over again. BTC has strayed far below its 10 & 20 SMA. Long-term logarithmic support is at $27000, and we are not even in the $20,000s. Volume has dropped off. Will next week's macro news bring new lows? SPX is at major support and a bounce is possible, however DJI has made new lows, and a test for resistance would probably not hold. Based on these technical indicators, I think it's likely we are heading to new lows.