We have Heikin candles to be a little easier on the eyes though we are currently ranging in a triangle and looks to be the last E wave heading towards the top trend line around the .236 Fib level.
This successfully broke out of another wedge that ended wave D and brought this down to the bottom trend / resistance and looks as if its started it journey towards the top trend again.
Based on the Elliot wave this is bearish, though anything can happen be it outside factors that once it reaches the top can influence it to continue to climb higher and out of the triangle.
What implications will this have across the broader markets?
How will this factor in growing concern about inflation?
What about crypto?
Emerging market currencies?
We have already began to see the dominoes fall with a lot of South American countries looking to adopt bitcoin as legal tender.
Some African countries are also in talk about switching to a digital version of currency be it BTC or a CBDC. (central bank digital currency)
USA is in its latter stages of catching up to China with their own CBDC.
Russia and other world powers are more and more steering away from its dependance of DXY.
Only time will tell,
That's all folks
This successfully broke out of another wedge that ended wave D and brought this down to the bottom trend / resistance and looks as if its started it journey towards the top trend again.
Based on the Elliot wave this is bearish, though anything can happen be it outside factors that once it reaches the top can influence it to continue to climb higher and out of the triangle.
What implications will this have across the broader markets?
How will this factor in growing concern about inflation?
What about crypto?
Emerging market currencies?
We have already began to see the dominoes fall with a lot of South American countries looking to adopt bitcoin as legal tender.
Some African countries are also in talk about switching to a digital version of currency be it BTC or a CBDC. (central bank digital currency)
USA is in its latter stages of catching up to China with their own CBDC.
Russia and other world powers are more and more steering away from its dependance of DXY.
Only time will tell,
That's all folks
Comment:
this was faster than expected
Comment:
couldnt have bounced more perfectly off the resistance and now we should be on our way down. equities shoyld make some more ATH's and btc and rest of cyrpto should be going up.
lets see how many more buyers this brings
lets see how many more buyers this brings