Never posted this in here so, thought I'd give it a go
Bitcoin has, as we all know, made a full recovery from the FTX crash and is now back to the area of its price Prior to that crash, currently resetting but Bullish Sentiment continues despite the "War cries" from the FED - and Data shows that BTC PA does not react overly badly to Rate rises..and neither does the Dow Jones - on a monthly chart, BTC and S&P are in very similar positions, coming out of Bearish MACD, now turning bullish
GOLD is continuing its Low volume slide but that could change Soon, if only for a relativly short time. On a Long Time Frame, Gold is in the Handle of a Cyup & Handle pattern and has just been rejected frm the upper trendline and is currently on the 9.382 Fib retracement line, could act as support but the Weekly MACD is turning Bearish - likely to eventualy reach lower trendline and bounce from there, around 1650
DXY has also just bounced off a Fib retracement line ( 0.5) and the Weekly 100 EMA - on the 4 hour chart, it is Bullish with EMA's now in order below PA of 50, 100 200. MA's are lagging indicators. Change maybe about to happen. RSI is overbought and MACD over 0 - Short term StochRSI is overbought on 1&4 hour, Daily and weekly which points to wards a range incoming at the very least, maybe Drop
On a weekly chart, S&P has broken through a long term descending line of resistance and is currently coming back down to test it as support but on a daily, PA has dropped back below MA's - on a 4 hour ( as in charts above) PA has just come down onto the 200 MA which may act as support - Over all, I think Markets are about to recover over the next week or so
OVERALL, BTC and S&P are in very simialr positions and loko ready to push higher in the near future - DXY has a Ver Bearish looking Monthly MACD and oversold Stoch RSI so, over all, I see more downside over time, after the current lttle push up is exhausted
GOLD is in a better positin than DXY though stil lhas room to drop in time and then recover but liekly to stay in Handle of Pattern - Over the last 19 months, I have seen a large number of Cup / Handle patterns fail and the PA drop out of the handle to at least 50% below - We could see GOLD got to 1547 -1400 this year - Not a popular opinion I know
What ever you do, trade safly right now and Always...
May your gods keep you safe
Bitcoin has, as we all know, made a full recovery from the FTX crash and is now back to the area of its price Prior to that crash, currently resetting but Bullish Sentiment continues despite the "War cries" from the FED - and Data shows that BTC PA does not react overly badly to Rate rises..and neither does the Dow Jones - on a monthly chart, BTC and S&P are in very similar positions, coming out of Bearish MACD, now turning bullish
GOLD is continuing its Low volume slide but that could change Soon, if only for a relativly short time. On a Long Time Frame, Gold is in the Handle of a Cyup & Handle pattern and has just been rejected frm the upper trendline and is currently on the 9.382 Fib retracement line, could act as support but the Weekly MACD is turning Bearish - likely to eventualy reach lower trendline and bounce from there, around 1650
DXY has also just bounced off a Fib retracement line ( 0.5) and the Weekly 100 EMA - on the 4 hour chart, it is Bullish with EMA's now in order below PA of 50, 100 200. MA's are lagging indicators. Change maybe about to happen. RSI is overbought and MACD over 0 - Short term StochRSI is overbought on 1&4 hour, Daily and weekly which points to wards a range incoming at the very least, maybe Drop
On a weekly chart, S&P has broken through a long term descending line of resistance and is currently coming back down to test it as support but on a daily, PA has dropped back below MA's - on a 4 hour ( as in charts above) PA has just come down onto the 200 MA which may act as support - Over all, I think Markets are about to recover over the next week or so
OVERALL, BTC and S&P are in very simialr positions and loko ready to push higher in the near future - DXY has a Ver Bearish looking Monthly MACD and oversold Stoch RSI so, over all, I see more downside over time, after the current lttle push up is exhausted
GOLD is in a better positin than DXY though stil lhas room to drop in time and then recover but liekly to stay in Handle of Pattern - Over the last 19 months, I have seen a large number of Cup / Handle patterns fail and the PA drop out of the handle to at least 50% below - We could see GOLD got to 1547 -1400 this year - Not a popular opinion I know
What ever you do, trade safly right now and Always...
May your gods keep you safe