Time For A Rest? Mid-Week Market Update

StatsEdgeTrading

Bitcoin's recent bearish trend has seen traders adopt short positions since it hit the $45,000 mark. Traders should pay attention to the critical zone of $39,000 to $40,000.

Ethereum's downtrend line has not been breached, and traders are advised to move on from crypto for the time being.

The dollar index's bottoming tails suggest a possible reversal, which could make stock market bulls jittery.

The S&P 500 hit a new high recently but then settled pretty much flat, and traders should keep an eye on the situation. A follow-up drop could indicate that the index is ready for a correction. Traders should keep a level head and focus on the bigger picture.