The only thing you should look at for predictive analysis at this point is what $DXY is doing. You can see the correlation in the chart here, one goes up, the other goes down. Look at key levels for the dollar, and currency / bond markets to figure this out. The SPY is all stimulus fluff at this point held up by the dollar, but guess what, you can only prop it up...
Here I have the chart of the Dow bump and run pattern. This is a trend reversal pattern and looks like it will lead into a longer term downtrend. $dji $XLF $XLK
Here you can see the long term support of the trend in magenta. This is the third test of this support, where we have broken down to a lower short term support. If we break this shorter term trend support we are looking at a free fall my friends.
Here you can see there is a wedge. As per usual with wedges, there is a short head fake breakout to one side, and then the long term breakout to the other side. We are at the lower support of the channel, so this is a critical support. This trend support has been there for over a year, I will elaborate on this critical support in my next chart post. $dji $sq $NVDA...
As we can see, Bitcoin is in a wedge pattern. We got the support here around the $7400 mark. Expect some consolidation around $7500-$8,000, then a breakout to the upper range of the wedge. Resistance around $9500. Lets see the wedge start to close, and expect a breakout to either the upside or downside, but the longterm move should be a breakout to the upside.
Looks like its coming out of a traunch, critical point is $18, if it breaks that, up up and away. Lets hope the ER has a positive growth outlook especially for international expansion.
