My downside projection if we enter a bear phase. FED is tightening, by mid August they will flip-flop, and a rebound will be underway.
Cup & Handle ready to break out. Target $4300 end of 2024 (234% in 3 years)
The entire crypto bubble has been created by the FED. Let's see what happens when they pull back.
ES could double top by Oct 11th, and still not break above trend.. you know what comes next!
If bulls don't break above this trend, highlighted will be a massive battle zone.
If it breaks above before the blue box then the idea is void.
This is a typical pattern following the death cross, the bounce and H&S happened last time.. It could skip the H&S and go straight down too.
BTC has broken out of the downtrend and heading up on a nice channel, If the 100 breaks 44K can soon follow.
Last leg before the H&S Completes?
Massive H&S formation, all gaps eventually fill.
My take is that it will reject at 41K and move much further down.
Just an idea, if FED can no longer keep QE going and reverse repo keeps rising, we could see a break from the trend.
If 4200 is the top, I'd expect a moderate descent like this one.
BTC Has to finish the year up, or this breakout could still be a fakeout.
Seems we could see a little more upside, $70K
Just my feeling..
Rising wedge could precede a big price drop!
Gold set to Take out last high and bounce off it.