This is a cup and handle. What im expecting next week is a potential dip below the handle, but if it retraces back inside, essentially creating a wick outside and underneath, then its possibly going to the top of channel and eventually breaking up the top. But lets see.
German gas prices has risen to the highest level since 2014 despite oil 1.80% prices collapsing. This is indicative of inflation?
The ECB has yet to raise rates and the longer the wait the more extreme the inevitable rate hike could be. This could make the EURO 0.02% explode in value as people buy it up to pay back debt and what not. Who knows.
Based on the chart it looks like oil is coming to and end. Basically the price is hanging out in the lower half of the circle which indicates weakness. Eventually it will break out the bottom and a correction ensues. In less than four years electric vehicles are going to become mainstream, every manufacturer will have an option. It will change sentiment on oil ...
Yo, this is a quick idea contemplating the possibility for DXY to fill the gap (The red square). Im speculating that it will strike out of nowhere. People will get really comfortable as it continues its upward trajectory and then boom theres a correction. But lets see.
It will pretend its losing steam, and just when its about to make a lower low it will turn, catching most people by surprise which leads to a significant rally.
PS. I am NOT an expert and anything i say should be taken with a grain of salt.
At this point everyone has pretty much accepted BTC is a bear market. Lots have probably sold expecting months and months of sideways because they look back at 2014 and see the similarities so far.
But listen to this. IF btc is just looking like 2014 because people think it will be like 2014 then it becomes a self fulfilling prophecy UNTIL the market realises ...
This is an idea that predicts BTC bottom around $5k. If you draw fib lines from the ATH to that level a 50% retrace (which are common) will take it to around $12k. This also coincides with the gaps in the volume profile. Lets see what happens. In the end this is just gambling and not a science.