- As per my Elliott Wave technical analysis - it looks like the massive impulse wave can be completed and we are now headed to a retracement. - On the weekly chart we have a shooting star - bearish candle with a long wick ( PIN BAR )! - If we take a look at the RSI indicator on this chart, we can see a bullish divergence , which is a pretty strong bearish signal. - We don't really know how deep the retracement will be, but we can go back down to the acceleration point + 0.618 FIB. - MACD histogram is going down and loosing momentum, which is a sign of weakness. - Look at my ideas about Bitcoin, Ethereum and TOTAL crypto cap in the related section down below ↓ - For more content, please hit "Like" & "Follow"!
Thanks for analysis. DXY going to 106.8 at least imo:
oliverrathbun
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Might want to reconsider that interpretation of the June 13 weekly candle. That's more like a spinning top than a shooting star don't you think? If so the implication is the market is in indecision mode vs topping. We'll soon find out.... Good luck.
Tolberti
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@oliverrathbun, Yeah you are right - can be a spinning top. But the upper wick is much higher on the other side, which is more bearish.
TomandHarry
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how long we have to wait to get 102?
Tolberti
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@TomandHarry, It is hard to predict - week or month.
Tolberti
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