Winter Is Coming 🐺📉

Taking a look at the Bitcoin and Ethereum Daily charts .We'll preface this with this; these are solid long term entries if you're not looking for trade setups in the short to mid term.Bitcoin at $16K and ETH at $1.2K in 10 years is likely going to look like a great deal.That being said, we think that we're in for a nice move to the downside in the coming weeks/months.Our latest Bitcoin target is set at $14K, with $10K very possible still. Ethereum we can see dipping down into the 3 digit range with $900 the near term price target.We can definitely see the worst case of the two play out since we are overall bearish given the current macro climate.Crypto unfortunately will not find its "bottom" until we see equities find theirs, that being the SP500 and DJI.

And that brings us to our next set of charts…

Taking a look at possibly the 3 most important charts for any trader; VIX , SPX , and USD 🔮With a massive rebound in equities, crypto, risk assets, we're seeing much chatter that "the bottom is in".Although we've made some nice trades in this week's pump, we don't think we're in the clear just yet.🥶You don't have to look too far either.

Looking at the VIX 1W chart. We can see we are approaching a sure-fire support level with a rebound all but guaranteed if you're just looking at the chart.Line this up with the SPX 1W chart, and you'll see we're approaching significant resistance at the same time.Combine these two with a bullish trending US dollar , and you have the perfect recipe for another leg down.📉Now we can certainly push up further. We would almost expect it.However, to say the "bottom is in" would be naive.Only time will tell if we're being overly bearish .Until then, we will continue to look for solid trade setups in the short term!