BTC breaking minor 15-min resistanceAccording to the Cosmic Channel Lite indicator, the price has broken a 2 day minor resistance level as indicated by 2 Cosmic Markers Lite markers, reversed down and stopped at another local Cosmic Rays Lite support. If the price rises above the last minor resistance level, the next major resistance lies around $28k.
Cosmic
BTC hovering resistanceAfter moving below the Cosmic Channel Basis Line the price fell until Cosmic Channel Lite Support and stayed hovering below that level. The current Cosmic Rays Lite resistance line is on its way down towards the price and is projected to meet it in the next several hours. This should be a key moment to decide the next major trajectory the price will take.
Cosmic Gravity near term resistanceOn the 1H timeframe the price is holding above Bottom Support and on the 15 minute the price has gone back up above Bottom Support while the Basis Line has turned bullish, suggesting a bullish movement is next.
The next common resistance for these timeframes intersects at 1H Major Support and 15 minute Basis Line .
Overlap of $BTC supports can pull priceWhen levels overlap across timeframes, in addition to acting as a strong price "wall", the point of overlap often also acts as a price magnet, attracting the price to test its strength. This is the situation shown in the chart, where both resistance and support overlap across the 6h and 15m timeframes. The short position stop and target are set accordingly.
23h $BTC short and long term levelsHere are the main support and resistance levels on the little known but historically precise 23 hour timeframe, using the auto-generated short term levels of Cosmic Rays Lite and auto-generated long-term levels of Cosmic Channel Lite :
24.5 (short-term resistance)
23.5 (long-term resistance hasn't been broken since June 2022)
22.6 (short-term support)
Baltic Dry Index drops to 2020 levelsCoinciding with talks of recession, the Baltic Dry Index (which can be thought of as the cost of international shipping of primary goods and so an economic indicator) is approaching the lows seen during 2020. With a 60% drop left to the 1D Cosmic Channel Lite support and Cosmic Markers Lite not yet flashing the strongest support signals the prognosis is bearish with a potential reversal at 270.
META neutral near Cosmic Bands top1D price rose close to the max Cosmic Bands resistance, potentially forming a new Cosmic BB SR level. Statistically this would be a point of reversal but max resistance has not been reached on higher timeframes and it may be a good idea to wait for bearish confirmation.
On the down-low Money Supply factsThe chart shows two recent and unprecedented occurrences that may lead to an outcome of equally unprecedented proportions. In the past year the money supply
peaked and is still negative over a year since
reached peak liquidity
Causes include the effects of the pandemic, asset conversions spurred by tax reforms and corporate buybacks, rising unemployment and housing prices amid interest hikes , and government security buybacks initiated due to bond market stress.
This general and massive sell-off at peak valuation with no likely intent or ability to spend in the near term at a time of impending stagnation forebodes a bearish outlook for markets worldwide.
Bitcoin above $70k resistance levelThe neat thing about Cosmic Flow is that is lets you use one MA period for the resistance and another one for the support. Here we used the HMA with 50 bar resistance and 100 bar support to recognize a repeating pattern on the 1W chart, in combination with the Cosmic BB SR indicator. While these two indicators show that the price is now more bullish than it was during the last $70k top in November 2021, the Cosmic Angle indicator is still showing a significant negative trajectory and is changing its angle at a very slow pace. This information suggests two likely effects: 1) a large and sudden bullish movement 2) a gradual reversion to the Cosmic Flow basis line.
EURAUD reversal with short targetThe 2h chart points show that if the price fails the current test of the Cosmic Channel Lite basis line from below, the next major support will be the top of the Cosmic Gravity support channel, where the short target is placed. Since the price is right below a major resistance level, the stop is placed only slightly above it.