Dow Jones H&S in the making
Updated
Thursday i posted a few updates on the Dow and Bitcoin after a few weeks of absence in my Bitcoin analysis. I talked thinking that the stock market rally has come to an end. So far that has played out. At the moment we are at a big support zone around 23200, which has been holding so far. On the left we can see that big bearish wedge. Now ideally we get to see an H&S form inside this wedge. That would be like a double confirmation of the bearish trend if that would happen. First we need to see a break of 23200ish zone today or max tomorrow i think. Then a big dump to the 22.300 zone, the green zone on the left. The we could see a bounce up, to make the right shoulder. Now this bounce doesn't have to happen, since we have the bearish wedge as well. But in case it does, then we know what might be going on.
Short term we have a resistance around 23.400, if that breaks, the movement inside the wedge could be extended.
The Bitcoin analysis where i wrote a bit about the current fundamentals and the Dow.
Please don't forget to like if you appreciate this :)
Previous analysis:
Short term we have a resistance around 23.400, if that breaks, the movement inside the wedge could be extended.
The Bitcoin analysis where i wrote a bit about the current fundamentals and the Dow.
Please don't forget to like if you appreciate this :)
Previous analysis:
Note
New Dow analysis:
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