LA_Designer

LA_Designer

BTC is currently contesting the 20-week MA (white) as resistance. A weekly close above it would then contest the 200-week MA (red) at around $24K. The weekly RSI has also broken both downtrend lines of resistance, depending on how you draw it. Bearish only if BTC gets a weekly close below $17.6K

LA_Designer Updated 

The volatility index looks bearish in my view. Bearish divergence on the daily Double top Cross down on the MACD Broke the diagonal uptrend level of support Targets that I am looking at are 23 and 20.

LA_Designer Updated 

Oh boy... with all the bearish DXY charts I've put out lately, I just noticed something that is even more bearish. You see that yellow line on the chart? That is the weekly RSI that has been on an uptrend since December 2020 (almost 2 years now). That weekly RSI just broke below the trend line of support. That is in addition to the bearish divergence that I've...

LA_Designer Updated 

ETH has had sideways action since Sept. 21 while holding above the $1,200 support zone. A break below that support zone would likely retest the $1,000 support zone as the bull's last stand. If it breaks the major trend line to the upside (circled above), then $1,400 and $1,700 become strong resistance levels to watch.

LA_Designer

I could see something like this playing out where the DXY goes sideways for a bit and continues to fight that resistance trend line, followed by a big dump. The monthly RSI already reached 80, and on the weekly chart we still have bearish divergence. If that top trend line breaks bullish with a monthly close, then 120 would be very strong resistance.

LA_Designer Updated 

Since the drop on August 14th, Bitcoin has been forming a descending wedge pattern with bullish divergence on multiple time frames. On this 3-day chart, we can see that this support zone has very strong buying power. Whales are absorbing that zone. A successful break to the upside should retest the $22.5K resistance area in the coming weeks. Bearish if the...

LA_Designer Updated 

For a few months now, I've been talking about the weekly bearish divergence in play for the DXY. More recently, after topping out at around 114.77, we are starting to see more signs of weakness. The momentum shift continues to build up. If this parabolic trend breaks and the DXY fails to go higher than 114.77 soon, we could be seeing a massive correction coming up.

LA_Designer

I'll keep it short. As long as SPX holds above the 200W MA, I'm expecting a bounce/rally. Bullish divergence on the RSI Bullish divergence on the Money Flow Index MACD histogram on the weekly starting to flip upward In addition, my post for the VIX (below) is bearish.

LA_Designer

On the monthly chart, the MACD histogram is slowly starting to shift upward. The last time this happened was the bottom of the bear market (Feb. 2019). Bitcoin has now been trading sideways for over 4 months at these levels. If the monthly histogram closes like this and is followed by consecutive upward steps then be ready for a big move.

LA_Designer

As we can see, since July 2022, the support zone around $4.25 - $4.65 seems to be a strong area of demand. If the markets start to rally soon, we should see APE retesting resistances of $6 and $7.70 in the coming weeks.

LA_Designer Updated 

If you look at Bitcoin's chart above, you'll see a lot of similarities to my chart below. Here is what the S&P 500 looked like in 2002 - 2003:

LA_Designer

I was just looking at the weekly charts for BinanceUS and KuCoin, and noticed something interesting. Both exchanges are showing that the volume for Bitcoin within the last several weeks has been astronomical. Neither of these exchanges have ever showed volume like this in the past few years since their existence. By looking at both the volume and the weekly RSI,...

LA_Designer

BTC is in a giant falling wedge pattern for over a year now and has recently been forming bullish divergence on the weekly chart. The price is closing lower, but the RSI is moving up. This is telling you that momentum is starting to shift. Bullish above $25K Bearish below $17.6K

LA_Designer

Left chart: DXY / 3-day Price is bullish, RSI is bearish (dump expected) Right chart: BTC / 3-day Price is bearish, RSI is bullish (pump expected after DXY corrects)

LA_Designer

$17K - $19K still proves to be strong support. The daily candle bounce on this zone shows even further that it continues to defend these levels, with higher lows on the RSI. I'm expecting a move back up in the next week or two. Invalidated below $17.6K

LA_Designer Updated 

ETH might be bouncing off of support at the $1,400 zone. It re-tested and closed the daily with a higher low on the RSI, which tells me a possible move up could come. Invalidated with a daily/weekly close below $1,400.

LA_Designer Updated 

As we can see, ETH is trading in a small triangle pattern between $2,030 - $1,425. Bullish Scenario: Break above the trend line and the local resistance of $1,800. Bearish Scenario: Break below the trend line and the local support at $1,400.

LA_Designer

As we can see, bearish divergence continues to increase since April, however the .5 fib continues to act as support on each correction. I expect the DXY to pass 111 in the near future for a new local high because of the daily engulfing candle that is forming on the recent bounce. My thoughts on the divergence remains the same.