HomeMarketsIndicesBearish Flag on Bitcoin Chart | Market To Take Out Recent Lows
Bearish Flag on Bitcoin Chart | Market To Take Out Recent Lows

It's been a tremendous rally the last couple of weeks, but don't expect this rally to last, says Gareth Soloway, Chief Market Strategist at InTheMoneyStocks.com. He analyzes the chart of the 10-Year Treasury Yield (TNX). He says yields will start to fall and the market will react negatively as well. He thinks there will only be four rates hikes in 2022. Gareth sees a bear flag on the chart of bitcoin. He is looking to take profits in bitcoin around $45,000 to $46,000. He thinks the market will reverse and we will take out recent lows and we'll have a slowing economy. He is looking at gold, Chinese stocks, and South American stocks for opportunity. He thinks oil will hit $75 level in the third or fourth quarter of 2022.

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25 Mar 2022

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