Bitcoin Turns Down For Deeper Correction. Strong Support At 40k.

Stocks are coming down at the start of January as some portfolio adjustments and profit-taking occurs at the start of a new year to avoid 2023 tax year. We can also see some dollar rally, but normally these flows at the start of the year are temporary and can be reversed later this month when flows will normalize. We also have a FED minutes today, but US PMI and NFP much more important this week I think.

Looking at bitcoin, its coming sharply down on speculation that SEC will reject ETF. Some nice support is at 40k.