According to Mihir (@RhythmicAnalyst), the NASDAQ Index has rebounded 22% and is currently trading at a critical decision level marked by a rising wedge formation between two orange lines. Mihir notes that the next directional move will be indicated by whether the index breaks above or below these trendlines (source: Twitter, May 9, 2025). This technical pattern is closely monitored by cryptocurrency traders, as significant movements in the NASDAQ often correlate with volatility and directional shifts in major digital assets like Bitcoin and Ethereum. Traders should watch for a confirmed breakout, as this could impact risk appetite and capital flows in the crypto market.

According to Mihir (@RhythmicAnalyst), the S&P 500 Index topped on February 21, 2025, and has since declined by 21% before rebounding 17% from its April low. Currently, the S&P 500 has formed a Doji candle, indicating market indecision and potential volatility ahead (source: @RhythmicAnalyst on Twitter, May 9, 2025). This trend is mirrored in the NASDAQ Index, and the formation of a Doji at a key resistance level is a crucial signal for crypto traders, as large equity market moves often correlate with increased volatility and directional shifts in major cryptocurrencies such as Bitcoin and Ethereum.

According to Mihir (@RhythmicAnalyst), the NASDAQ index has responded to a valid interim resistance, indicating a normal market behavior. Traders are advised to adhere to the projected path as it aligns with historical patterns of resistance levels, which can offer potential entry or exit points. Recognizing these resistance levels is critical for traders aiming to optimize their strategies in the NASDAQ market. For more insights, traders can analyze historical data on the NASDAQ's reactions to similar resistance points.

According to Mihir (@RhythmicAnalyst), recent market analysis indicates that Gold, 10-year US Treasury yields, Bitcoin dominance, and US Natural Gas are at or near their peaks. Conversely, the NASDAQ index and Bitcoin have likely reached their bottoms, unless recent lows are breached. This information is crucial for traders considering entry and exit points in these markets.