Market overheating? ☠️ - SP500 & Bitcoin

What’s up, team!

Been a minute since our last market report.

We’ve been busy cooking up some JUICY new tools for AlgoBuddy members that should (hopefully) be rolled out in the coming days/weeks.😎

Smart Money Concept / Price Action indicator, Premium 2.0 being turned into a strategy with 3commas integration, and more…😈

Without further ado, let’s dive right in.

Taking a look at the SPX Daily chart. We’ve seen stocks on one hell of a run to the upside the last few weeks.

With price now testing that blue upward channel. At the same time, we’re also approaching some key resistance levels (orange lines).

A pullback in the coming days wouldn’t come as a surprise. Especially with the recent geopolitical trade deals going down. Plenty to be uncertain about at the moment.

However, a continued push to the upside is also possible, as some investors are pricing in/banking on a dovish FED and pivot later this year.

Switching gears to Bitcoin…

We have the Daily chart pulled up here. Bitcoin has shown remarkable resilience in the face of some serious FUD (Binance lawsuit + SEC warpath on all of crypto).

We’re approaching and beginning to test the zones of Summer ‘22 (blue zone), with most traders weighing the possibility of a push to $30K.

If we get a hard rejection at $30,000, a sharp move back down is what we’re eyeing up. Which is that purple demand zone we’ve mapped out.

However, if we see a continued push and price consolidate above $30,000, $32,000 would be next in line (bulls would be jacked up).

These next few weeks will be interesting as both stocks & crypto are approaching key price levels.

As always, eyes peeled out there team. See ya in the next one.

Oh, here are some recent wins from the AlgoBuddy indicators:

+13% swing trade on

+1.6%, +100 PIP move on AUD/USD

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