It is indeed an important development as not only did it break above this key MA for the first time since May 12, but Bitcoin is also at the highest price level it's been since May 26. What I am interested at on this idea is to know which pattern you think the price will follow (since the Channel Down displayed in dashed lines was invalidated with this break-out)...
This is a continuation of my 1H time-frame series, last of which was the Channel Up I posted 4 days ago: The price made a strong rebound on the Lower Lows trend-line and BTC finds itself now rejected again on the Lower Highs trend-line. This rejection has already created the foundation for a new Channel Down (dashed lines), which based on the previous two,...
Those who've been following me for years here (and previously on reddit) should know how fond I am of Cycle comparisons. I am a big supporter of the Lengthening Cycles and Diminishing Returns Theory (each Cycle measured from the bottom is longer than the previous and offers a diminishing ROI) and find Bitcoin's cyclical behavior and patterns highly reliable and I...
This is S&P on the log scale of the 1M (monthly) time-frame. Since the Great Depression, the index has entered a Channel Up that never stopped/ broke to the downside to this date. In particular, I have distinguished this pattern into 3 key landmarks: 1) When the price broke below the 1M MA200 (orange trend-line) but made a bottom on the Higher Lows trend-line of...
Gold has been trading within a Channel Up since the March 31 bottom. Tomorrow we have the critical U.S. CPI data release and ahead of that, Gold has been showing some weakness as it has been trading under Lower Highs since the June 01 top. This Lower Highs trend-line needs to break to restore the bullish sentiment on the short-term and the price action since...
What do you think of this fractal on the 1W time-frame? The price action since mid 2020 resembles that from early 2017 to mid-late 2018. During that time, WTI started off a Channel Down (blue), then as it broke above the 1W MA50 (blue trend-line) it rose aggressive and after it broke above the 1W MA200 (orange trend-line) as well, it entered a a 9 month Channel Up...
Yesterday update was on the short-term, as the opportunity inside the Channel Down on the 1H time-frame was too good to ignore: Right now though my focus shifts again on the longer-term dynamics as the Death Cross, an important MA formation, enters the center stage. A Death Cross (when the MA50 crosses below the MA200) is approaching on the 1D time-frame. By...
Pattern: Channel Up on 1D. Signal: Buy as the price is: 1) Still on the middle of the Channel, 2) The RSI not yet on its 10 month Resistance Zone, 3) The MACD is on a Bullish Cross. Target: 2670 medium-term (the 2.0 Fibonacci extension, which has been met on all three previous Higher High waves of the Channel Up). Useful facts: The 1D MA50 (blue trend-line) has...
Pattern: Triangle on 4H. Signal: Buy as long as the Higher Lows trend-line holds. Target: 4400 (just below the 2.0 Fibonacci extension, similar to the March 31 break-out). ** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. **...
DXY has been bearish since the March 31 top and after the multiple rejections on the 91.440 Resistance, formed a Channel Down. Since May 11 though an Inverse Head and Shoulders pattern slowly emerged, which is technically a pattern seen on market bottoms that prepares a reversal. In turn, that gave way to a Channel Up since May 25 (blue channel). My trading plan...
The Triangle that formed after the May 19 bottom, broke yesterday in aggressive fashion to the downside. The pattern that emerged on the 1H time-frame is a Channel Down. Will that break to the downside too and test the 30k Support or a new Lower High will follow next? Feel free to share your work and let me know in the comments section! Please like, subscribe...
A lot of talk has been made lately around popular assets like Gold's strength, the selling on BTC and the weakness of the USD while few have been paying attention to WTI Crude Oil's long-term carts. WTI has silently broken above its Historic Lower Highs trend-line (that has been in effect since the July 2008 Market Top) and is on a sustainable trade above it. This...
Pattern: Channel Up on 1D. Signal: Sell as the price got rejected on the Higher Highs trend-line of the Channel Up. Target: The 1D MA100 (green trend-line) on the short-term and the 1D MA200 (orange trend-line) on the medium-term. ** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. **...
Pattern: Channel Up on 4H but if 1.22390 doesn't break, a Channel Down may take its place. Signal: (A) Buy if 1.22390 breaks, (B) sell until then as a 4H MA50/MA100 has been formed. Target: (A) 1.23450 (1.618 Fibonacci extension), (B) 1.20900 (Lower Low on the emerging Channel Down and just above the 1D MA50 (yellow trend-line). ** Please support this idea...
Pattern: Channel Up on 1D. Signal: Buy as the price rebounded exactly on the Higher Lows trend-line of the Channel following the 1D MA50/MA100 Bullish Cross and on top of that a 1D Golden Cross is emerging. Target: 1950 (just below the 10 month Resistance Cluster of September 2020). Previous Gold signal: ** Please support this idea with your likes and...
The big technical development of this week should be the emerging MA50/ MA100 Bullish Cross on the 4H time-frame (the 1st in more than 1 month). Such crosses are typically formations that precede a strong move on Bitcoin and since it has been trading within a Triangle (Lower Highs and Higher Lows) since the May 19 bottom, it is very likely that this formation will...
On this study I am crossing Bitcoin with the Dominance of the Alt Coins as it shows something that may interest you. This past month there is only one question in crypto investors' minds: has Bitcoin already made a top for the current Cycle? The regression of BTC agains the Alts shows that the pattern they are printing now is similar to July 10, 2017. During that...
Pattern: Channel Up on 1D. Signal: Buy once contact is made again with the 1D MA50 or the RSI enters its Buy Zone. The entries have been consistent since March 23. Target: 72.00 (around the 1.5 Fibonacci extension). Previous WTI plan: ** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. **...