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How Crypto is Reacting to Inflation

by Tom Luong, April 8, 2022
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After shooting up 500+ points in a few days, the market is pulling back.

Everybody is wondering whether inflation will rear its ugly head, and it seems like the market's not sure how to react.

Right now, we’re seeing new support levels in the S&P 500. 

Even Bitcoin (BTC) and Ethereum (ETH) have pulled back and found new support. 

But all this bearish activity is giving us a great opportunity to position ourselves for profits!

As they say, “buy when there’s blood in the streets.”

Which is why today, I’m going to discuss whether the market has finally stopped bleeding.

Technical Analysis

Resistance is Holding for the S&P 500

Two days ago, I told you that I’m watching the market’s down trendline.

It’s a very important level of resistance for technical traders because if it breaks, we could see a big jump up.

Well, resistance continues to hold.

For example, take a look at the S&P 500…

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It’s consistently bouncing off the down trendline.

In fact, it’s almost perfectly bouncing off it!

Meanwhile, we're seeing a minor correction in the Nasdaq…

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After hitting the sell zone, it made a steep drop down to the $14,200 level.

Right now, I’m waiting to see if the market can gain any bullish momentum next week. 

Because a lot of stocks on the market are hitting the buy zone and I want to capitalize on this opportunity - but only if the market has stopped bleeding.

Click here to get updated when I see the next trade opportunity!

Sector Highlight

Crypto Finds Support… But Don’t Buy Yet

Both Bitcoin (BTC) and Ethereum (ETH) dropped before finding new support.

BTC’s support level is at $42,656…

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And ETH’s is at $3,257.80…

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But that doesn’t mean now is a good time to buy crypto.

As you can tell by the charts, there’s plenty of room to move to the downside.

From a risk management perspective, we do not want to rush into cryptocurrencies right now.

To learn more about the right time to buy low (and sell high) - click here.

SN Family Secrets

Raul Says He's No Longer Emotional About Trading

One of the very first lessons a trader must learn is removing emotion from their trading.

With technical analysis, we are able to focus strictly on price movement.

This way, we aren't blinded by anything else - we're only looking at the hard numbers.

Raul was able to reach this level of trading thanks to the Stock Navigators family.

See for yourself...

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That's what it's all about.

Helping each other stick to the plan and get profitable.

If you'd like to see exactly how Raul did it - click here for more information.

Related Articles

Vu Nguyen, April 5, 2022
Tom Luong, March 1, 2022

5 min

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