Stocks surge, altcoins give back their gains and dollar strength may push Bitcoin lower By Cointelegraph
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Stocks surge, altcoins give back their gains and dollar strength may push Bitcoin lower Between May 23 and 27, the equities markets had an impressive run, with the tech-heavy NASDAQ (NASDAQ: QQQ) ETF up over 7% and the S&P 500 (NYSE: SPY) up over 6.50%. However, this week’ whipsaws in price action occurred throughout the week and while the J trade session is not yet over, the weekly candlesticks suggest a close near last week’s open.
Currently, all major indexes face significant technical resistance levels above their present traded levels. Throw in thegrowing economic uncertainty and fears of a recession; the bounce may be limited.
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Stocks surge, altcoins give back their gains and dollar strength may push Bitcoin lower Between May 23 and 27, the equities markets had an impressive run, with the tech-heavy NASDAQ (NASDAQ: QQQ) ETF up over 7% and the S&P 500 (NYSE: SPY) up over 6.50%. However, this week’ whipsaws in price action occurred throughout the week and while the J trade session is not yet over, the weekly candlesticks suggest a close near last week’s open.
Currently, all major indexes face significant technical resistance levels above their present traded levels. Throw in thegrowing economic uncertainty and fears of a recession; the bounce may be limited.
Continue Reading on Coin Telegraph
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