Technical analysis by Inorogu about Symbol BTC: Sell recommendation (6/8/2023)

Do not ignore China's economy Hello everyone, In this update i talk about some macro events that you should take into consideration. I think China is a wild card that everyone is ignoring and more focused on the fed. China is the 2nd largest economy and if they suffer everyone else that exports/imports will have to suffer as well. Its a full circle unfortunately. The surprises this week were RBA and BOC. Some market participants think that the fed won't push the pedal but i think they will and will catch everyone off guard. By end of summer SPX could be at 3700. Either way we are data dependant and we will see if we are going for a hard landing or a soft landing. Patience will be key and i am not married to my bias, i will change it if the data is suggesting so. Wishing you a great week! If you have questions feel free to ask me anything