Two moving averages that I am keeping my eye on are the 200-week MA (we just hit that), and the 50-month MA ($21K).
RSI levels on both the weekly and monthly charts have not seen levels this low almost ever. The weekly RSI is lower than 2018's bear market and the COVID 2020 crash.
Also, given the fact that the DXY just broke major resistance at 105, I see no end in the short term of the markets capitulating.
This is my recent analysis of the DXY:
A lot will also depend on the upcoming FED announcement regarding inflation and rate hikes.
RSI levels on both the weekly and monthly charts have not seen levels this low almost ever. The weekly RSI is lower than 2018's bear market and the COVID 2020 crash.
Also, given the fact that the DXY just broke major resistance at 105, I see no end in the short term of the markets capitulating.
This is my recent analysis of the DXY:
A lot will also depend on the upcoming FED announcement regarding inflation and rate hikes.