BTC SHORT rejection form 200 EMA and support about to fail.

BTC continues to confirm the bearish trend that started with a head and shoulders in January 2022 we now have confirmation of rejection to the 200-day exponential moving average, a rejection from the descending trend line from this cycle ATH and as we have warned for some time the downward momentum shows no sign of stopping any time soon. This cycle support is likely to crash through in the coming week or so and we head towards the true bottom potential highlighted in the zones marked on the chart.

On the way down we expect to see several pullbacks as we enter oversold but they are likely to fail and BTC will negatively correlate to a strong $ and the DXY index is truly looking so strong and heading to highs.

The global macroeconomic position is set to see stocks and many assets crash as inflation spirals out of control and the FED set a tough stance on economic tightening to solve the inflation crisis. This problem is not going away any time soon and is likely to see a lot of pain in assets such as digital assets, real estate, and stocks as the realisation we are already in a recession gets priced into the markets.