Tech stocks led the decline due to a significant market rotation
The $Cboe Volatility Index(VIX)$ closing above 13.8 confirmed an impending pullback for $S&P 500(.SPX)$ , which started on Wednesday. Tech stocks led the decline due to a significant market rotation.
All seven tech mega-cap stocks including $Tesla Motors(TSLA)$ , performed as expected, following their weekly setups and moving $NASDAQ 100(NDX)$ .
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Despite this, Bitcoin surged also as anticipated, following previous patterns mentioned in this publication.
This is the analysis for Bitcoin included in the Weekly Compass two weeks ago.
Precision at the bottom 🎯, BTC has rallied since then. This is an example of how relevant are S/R levels combined with Volume Profile and candlesticks.
The good news for today, is that the updated chart is open for everyone in today's publication.
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https://x.com/SmartReversals/status/1814694971041325555
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