I think we're at a point where bitcoin will start to make a slow climb up to 11.5k.
Why do I think that?
We've got way more daily volume in March than January and February someone or something wants to accumulate bitcoin.
We've crossed a major resistance line (red) and only just successfully tested it as support, If we'd dropped below the major support lines...
Another gap down sell off in the S & P 500. At this stage I expect we'll fall down to somewhere around the 2480 mark, unless some bullish signs appear before then.
I think the broader market cycle for CBA has reached it's highs and unless we break above $88 we're probably going to drop down to the $48 -$52 zone. The last 3 monthly candles look bearish.
Gold looks to be continuing to build pressure. I estimate we'll continue in a downward trend to somewhere around 1280 - 1300 and then re-test resistance. Hopefully we get a breakout there after.
It looks to me that the SP is going to continue in a consolidation pattern withing the bounds of the flag, chances are we will continue the downtrend after the consolidation.
This might be somewhat early but it looks like we are either in a trend reversal or will have one soon. Long term support and resistance lines are intersecting, volume is picking back up.
The buyers are back. If we break above resistance line and hold above it, the next pain point is the 11.5k resistance.
The bull move in bonds has taken a breathe and held support at 2.8%. The last 3 candles look bullish, I believe we'll see the major trend resume and head to 3.0% and beyond perhaps.
The SP 500 seems to be hitting resistance around the first of 3 falling gaps (Orange). Have we seen the market high for now ? the last session candle has a large amount of volume but very little price movement, the long upper wick suggests a bearish move. If the index drops below the gap I believe it will go to somewhere in the 2550 - 2600 range
DJI hitting a resistance line. Until we break that line the trend for the market is lower IMO. I estimate that dips below the 200 day EMA and probably reverses there after.
