Bitcoin and the rest of the crypto market seems to be in some sort of bullish consolidation pattern. Seeing as how we are likely in a bull market, and Bitcoin Dominance is trending down, I wouldn't be surprised if many Altcoins broke out before then.
Here's the idea:
The timing of the triangle's projected completion with the open of the $DXY trading in a bit...
The $DXY just rejected off of a 600-day resistance, as expected. This rejection should initiate a violent move up in stocks and crypto.
Here's the trend lasting approximately 600 days, with multiple touch points.
And here's the initial break of the rejection.
More on this during today's show. Link in signature...
The USDXY is at two major resistance levels. An 80-day resistance and a 430-day resistance.
This is very important to understand a likely high timeframe trend for risk-on assets like cryptocurrencies because, as we all know, the $DXY is almost perfectly inversely correlated to Bitcoin and the cryptocurrency market.
Here are those resistance levels on a...
Bitcoin is finally completing its 18-day re-accumulation channel, as it's consolidating at the base with a series of corrective patterns.
Upon closer inspection, we have a series of corrective patterns in 3 waves, as is typical for corrective patterns according to Elliot Wave theory.
Every corrective wave has a counter, and once that counter is complete,...
The U.S. Dollar Currency Index is about to break a support level of 252 days.
This is a very big deal. For those who don't know why this is huge news for crypto and all other risk-on assets, look at this chart showing the almost perfect INVERSE relationship between Bitcoin and the U.S. Dollar Index since about 2014
On smaller timeframes this break is...
Bitcoin is in a complex corrective pattern, which is most likely the 4th wave of a leading diagonal. There is also a confirmed bullish divergence on the stochastic RSI 4 Hourly timeframe which is a likely confirmation of the entry into the next impulsive wave up in this move.
