Ah, Monday. The day the S&P 500 decided to take a nosedive, plummeting more than 3%, while Bitcoin (BTC), with all the grace of a rebellious teenager, decided to defy gravity and finished the day up by a solid 2.7%. It’s almost as if the universe itself is playing a joke, with gold continuing its parabolic rise. Could this be the moment when Bitcoin and gold finally don their capes and become the “safe-havens” they were always meant to be? Let’s see… 🧐
$1.5 trillion vaporized from the U.S. stock markets
China, it seems, has perfected the art of being an immovable object in the face of President Trump’s tariff strategy. As a result, the U.S. markets have been in full meltdown mode. The S&P 500, Dow Jones, and Nasdaq all threw themselves into a dramatic freefall. Over $1.5 trillion in wealth—poof—gone. As if someone just pulled the plug on the economy. A small price to pay for playing geopolitical chess, I suppose. 🤑
Trump Vs Powell: The Clash of the Titans
And then there’s the little drama between President Trump and Federal Reserve Chairman Jerome Powell. It’s not just tariffs that are sending the market into a frenzy; it’s this very public feud between the two. Trump, ever the strategist, keeps calling out Powell on social media, branding him a “major loser” for not slashing interest rates as quickly as he’d like. Powell, however, remains steadfast in his claim that the Federal Reserve is an independent institution—because, you know, the Fed is supposed to be above the fray. The tension is palpable. Can the Fed maintain its independence, or will it bend to Trump’s will? Well, don’t hold your breath. 😏
$BTC achieves a higher high: Reversal in sight?
Now, let’s talk about Bitcoin. For those keeping track, $BTC has managed to hold the $87,000 level with the tenacity of a cat on a sunny windowsill. This has since transformed the level into a solid support, and the price has surged upwards, hitting the crucial $88,600 resistance. What a plot twist! 🎬
The big win here is that $BTC has achieved a higher high—a classic sign of a potential trend reversal. Could this be the start of a glorious comeback after the dramatic decline from the $109,000 high? Possibly, though don’t get too comfortable just yet. The Stochastic RSI indicators are climbing to the top, suggesting a potential downward move is coming. Will it dip back to $87,000? Or, maybe, the pennant top at around $85,000? The suspense is killing me. 😅
$BTC pauses at 200-day SMA: The Calm Before the Storm?
On the daily chart, $BTC seems to be at a crossroads—bumping up against the 200-day simple moving average like a guest at a party who just can’t find the door. This, of course, is a critical resistance level. But could this be the perfect spot for a corrective pullback, where the price takes a breather before making another run for the stars? 🏃♂️💨
The Stochastic RSI is showing signs of exhaustion, sitting at the top, ready to reverse its course. Below that, the RSI is signaling a break in the trend, which could mean a retest of the trendline. It’s as if we’re all waiting for the next chapter in this thrilling saga. Stay tuned! 📉🔮
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2025-04-22 13:11