🔥ATTENTION🔥
🤯The SP500 is EXTREMELY OVERSOLD which historically marked the BOTTOM of the market, but there are some exceptions
👉This has a GREAT implication in the #crypto world
What INDICATOR is marking this⁉️
▪️The RSI is an indicator that measures the levels of OVERBOUGHT and OVERSOLD of an asset
▪️The SP 500 is now oversold according to the RSI
▪️Historically, an RSI reading in this type of oversold condition marked significant lows in the SP 500
▪️4 out of the last times the RSI was at these levels, the market then ROSE
▪️The RSI is indicating that soon the stock market should RISE
Why does this impact the #crypto world⁉️
▪️The SP500 has a GREAT CORRELATION with #Bitcoin
▪️GENERALLY when the SP500 moves in one direction, #Bitcoin follows
👉Exception in history
▪️In January 2022, stocks only experienced a brief rebound before continuing to fall another 20%
📍It is FUNDAMENTAL that the FED carry out EXPANSIVE monetary policies so that the situation is NOT like January 2022
