TF: D
USDJPY looks ready for correction upwards before another leg down. A lot of liquidity above recent minor corrective tops so I think price will grab liquidity above these highs before another leg down. looks like a typical ABC correction to last years massive impulse to the upside
TF: D
Comparing symbol: BVOL
Pretty interesting set-up on Bitcoin and the crypto market in general. Bitcoin volatility is a historic low right now and historically when volatility reaches a low in this general area price action really ticks up (both downwards and upwards). This is marked by the pink horizontal lines on the chart.
I am expecting some big...
TF: 4 Hr
AU looks like it may have a change in structure for a continuation to the downside for the time being. Price looks like it could pull back a bit more before making another leg down.
TF: 15 Min
Price may test the area shown and run higher to grab buy side liquidity/open sell position stop losses. Overall price has been bearish on higher timeframes, however, price and DXY overall has dipped pretty hard over the last month or two with a potential for a correction here
TF: 8H
Hanging man candlestick formed across the 4h and 8h TFs which could lead to a move lower. Might be corrective to todays impulse or a correction to the move higher over the last few months.
TF: 9 D
BTC may begin a retracement rally/consolidate in a range in the coming month or two and lasting to early winter before a final plummet to the green box with a final low around fall 2023.
Couple of macro fundamental factors:
1. We are on the cusp, if not already in a recession. Recessions tend to last about a year to years
2. Rising interest rates....
TF: 4 Hr
Might see price come down to $4300 area. If it does come to that level and bounces I think price will see $4,700. However, if it does not hold, I think price will test and may break $4,100 level.
TF: 8 hr
I'm keeping an eye on price to see if it can test the support line, 0.618 retracement from the last major impulse down, and the extension inside the corrective pattern confluence area.
Price looks like it tested just shy of 1.382 so it may see some sell off here. Either way this looks like a classic corrective pattern and more downside should be coming
TF: 15 Min
Very interesting area for BTC. A few confluences are lining up in this general area: The POC for the last major down wave and the consolidation area, the 0.786 retracement level for the last down move within the consolidation area and the downward moving trend line.
I am keeping an eye on this area to see how price action plays out and if price will...