JUNE 13, 2022 — MONDAY AM
The ES, NQ, BTC, and ETH have each seen significant downside expansion from their respective ranges, with the ES and NQ both reach the previous month’s lows. BTC is down 18% and ETH is down over 25%, as these markets have finally seen major downside breaks from their respective narrow ranges. We may see much more downside ahead, with BTC potentially headed to 18k, and ETH headed toward 902.5 and maybe even 717. Crude Oil has seen a modest pullback over the last several days, and could be in a buy-the-dip zone ahead of the next major bump higher. All eyes will be on the Fed this week, with the FOMC Statement and Rate Decision on Wednesday.
Cheers!
Frank Ochoa
Author, Secrets of a Pivot Boss
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