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DXY US Dollar Currency Index: 1M ChartToday I am charting the The US Dollar Index (DXY) on a monthly chart over a multi-year period. The chart shows a long term descending parallel channel (generally bullish), which the DXY has been trading in. Most recently it has broken a multi-year resistance zone, created through a double bottom pattern. If the DXY breaks out of the descending parallel channel, we can see the price go up significantly as shown by the Fibonacci Extension (Trend-Based Fib Extension). If the price gets rejected at the channel top, the price can go back down to as low as $60-65, which will create a triple bottom (generally bullish pattern). This is a multi-year chart so don't expect everything to move quickly. When zooming out, the US Dollar price looks very bullish in the long-term. What are your opinions on this? I love reading your comments below. Disclosure: This is just my opinion and not any type of financial advice. I enjoy charting and discussing technical analysis . Don't trade based on my advice. Do your own research! #cryptopickk
TVC:DXY
by MillionaireEconomics
4
BTC Bitcoin: 1W Chart In depthHello friends, today you can review the technical analysis idea on a 1W linear scale chart for the Bitcoin ( BTCUSD ). The chart is self-explanatory. The Bitcoin price has been heading down since the all time high and now below a major Support/Resistance Line around the $40K-$44K area. The price may get supported by the $30K area, however if it falls below that area and keeps falling, expect the price to get supported by the Extreme Danger Zone Support Line I drew in the chart. Below that is the previous all time high support area. The RSI (Relative Strength Index) and MFI (Money Flow Index) charts show the major support and resistance lines showing historical trends. Volume has been consistent. Lastly, VPVR (Volume Profile Visible Range) shows areas where there is heavy trading. Since the RSI and MFI are coming close to major support areas, the Bitcoin price has potential to rebound but keep an eye on the Volume and traditional markets as there may be a very good chance it may complete a Dead Cat Bounce and come back down again. Lastly, the chart shows a Bear Flag formation which has a target at the Extreme Danger Zone Support Line. This is also a very important line to consider since the Bear Flag formation target is at the same area. If you enjoy my ideas, feel free to like it and drop in a comment. I love reading your comments below. Disclosure: This is just my opinion and not any type of financial advice. I enjoy charting and discussing technical analysis . Don't trade based on my advice. Do your own research! #cryptopickk
COINBASE:BTCUSD
by MillionaireEconomics
4
BTC Bitcoin: Death Cross ScenariosHello friends, today you can review the technical analysis idea on a 1D linear scale chart for the Bitcoin (BTC). The Bitcoin price on the one day timeframe is about to meet with a Death-Cross (50 MA goes below 200 MA). Historically the Death-Cross is a bearish lagging signal which indicates the price may drop. It doesn't always happen but when it does, the price falls quite a bit. The chart shows that the prior Death-Cross got to the multi-month support trend line before it started moving back up. Assuming that happens again, the price may drop but there is a good chance it gets supported by the support trend line. If the price doesn't drop, keep an eye on the upcoming red Ichimoku Cloud which may be an area of resistance. Volume has dropped again and RSI is about the reach the resistance line. Shown in the chart: Rising Wedge Pattern, Ichimoku Cloud, Support and Resistance Trend Line, Death-Cross, Simple Moving Average, Relative Strength Index, and Volume. If you enjoy my ideas, feel free to like it and drop in a comment. I love reading your comments below. Disclosure: This is just my opinion and not any type of financial advice. I enjoy charting and discussing technical analysis . Don't trade based on my advice. Do your own research! #cryptopickk
BITSTAMP:BTCUSD
by MillionaireEconomics
9
FTM Fantom: 1D Chart ReviewHello friends, today you can review the technical analysis idea on a 1D linear scale chart for Fantom (FTMUSD). The chart is self-explanatory. The price is at the top end of the triangle pattern about to reach the resistance line. It is above the 20,50, 200 MA (simple moving average). It also is above the Ichimoku Cloud so if price immediately falls, it may get supported by the top of the cloud. Volume is consistent. RSI recently had a bullish breakout and inside another pattern headed up. There are two paths shown with a bullish and bearish scenarios. Both have support and resistance trend lines which are important. The timing of these two paths may be off, but the overall trend up or down may occur as shown. If you enjoy my ideas, feel free to like it and drop in a comment. I love reading your comments below. Disclosure: This is just my opinion and not any type of financial advice. I enjoy charting and discussing technical analysis. Don't trade based on my advice. Do your own research! #cryptopickk
by MillionaireEconomics
11
BNB Binance Coin: 1D Chart ReviewHello friends, today you can review the technical analysis idea on a 1D linear scale chart for Binance Coin (BNBUSD). The chart is self-explanatory. The price is in a Descending Broadening Wedge pattern and is at the multi-month Support and Resistance trend line and looking to break back above it. The price is also above the 200 MA (simple moving average) and inside the green Ichimoku Cloud. The Volume is still low. The RSI is making another attempt to break the resistance line. If it moves up, expect resistance towards the 0.618 Fibonacci Retracement level. If it breaks down, expect support at the dash line noted in the chart where price got supported multiple times. If you enjoy my ideas, feel free to like it and drop in a comment. I love reading your comments below. Disclosure: This is just my opinion and not any type of financial advice. I enjoy charting and discussing technical analysis. Don't trade based on my advice. Do your own research! #cryptopickk
B
by MillionaireEconomics
4
DOGE Dogecoin: 1D Chart ReviewHello friends, today you can review the technical analysis idea on a 1D linear scale chart for Dogecoin (DOGEUSD). The chart is self-explanatory. The price is in a descending wedge pattern with the price attempting to get back to the top resistance line. If the price breaks out of the descending wedge, look towards the Fibonacci Retracement levels. The RSI has a bit more room to grow until it gets to the resistance line. The Ichimoku Clouds are shown with upcoming resistance. The 200 MA (simple moving average) is shown on the chart to see what the price needs to get back above to be bullish again. Positives: Descending Wedge Patterns are generally bullish. Money Flow Index (MFI) shows money coming back in and the indicator moved out of the oversold region. Negatives: Volume is very low. The dash lines on the chart are upcoming support and resistance areas for the price to battle. RSI about to approach resistance. If you enjoy my ideas, feel free to like it and drop in a comment. I love reading your comments below. Disclosure: This is just my opinion and not any type of financial advice. I enjoy charting and discussing technical analysis. Don't trade based on my advice. Do your own research! #cryptopickk
BITTREX:DOGEUSD
by MillionaireEconomics
4
Total Crypto Market Cap: Chart Update Hello friends, today you can review the technical analysis idea on a 1D linear scale chart for the Total Crypto Market Cap. The chart is showing a possible Head and Shoulders Pattern forming with the right shoulder currently forming. This may be invalidated if the crypto prices start to rise and increases the Total Crypto Market Cap. If the H&S pattern does complete the formation, it could potentially lead into a crypto bear market. Since this is a weekly chart, we will need to wait and watch. In the related ideas below I discuss the recent BTC price with trend lines, EMA Ribbons and 200 SMA. Please review those as well. If you enjoy my ideas, feel free to like it and drop in a comment. I love reading your comments below. Disclosure: This is just my opinion and not any type of financial advice. I enjoy charting and discussing technical analysis . Don't trade based on my advice. Do your own research! #cryptopickk
CRYPTOCAP:TOTAL
by MillionaireEconomics
4
BTC Bitcoin: 1D Chart - A Closer Look Hello friends, today you can review the technical analysis idea on a 1D linear scale chart for the Bitcoin (BTC). The chart is self-explanatory. With the price bouncing off of a major support trendline around $39K-$40K, the price has the potential to move upwards. A key area will be looking at the 0.618 Fibonacci level on the Fibonacci Retracement (shown in the chart). If the price can get there and breaks down, it will go back to re-test the major support line, which is in the 0.236 Fib level. If the price move upwards from the 0.618 Fib level, it will be very important for the price to move above the 0.786 level to possibly breakout upwards. There is Ichimoku Cloud resistance in red coming up around $52K-$53K to consider. Lastly, if the price comes back down, it could form a double bottom around the support trend line or $39K-$41K and move back up. I have also shown two prior examples of Fibonacci Retracements with a breakout and Dead Cat Bounce scenario which recently occurred for comparison. Shown in the chart: Fibonacci Retracement, Trend line, Ichimoku Cloud, Support and Resistance Trend Line, Relative Strength Index, and Volume. If you enjoy my ideas, feel free to like it and drop in a comment. I love reading your comments below. Disclosure: This is just my opinion and not any type of financial advice. I enjoy charting and discussing technical analysis . Don't trade based on my advice. Do your own research! #cryptopickk
BITFINEX:BTCUSD
by MillionaireEconomics
12
BTC Bitcoin: 1D Chart UpdateHello friends, today you can review the technical analysis idea on a 1D linear scale chart for the Bitcoin (BTC). The chart is self-explanatory. The price has two potentials from the Support and Resistance Trend Line which is in confluence with the VPVR (Volume Profile). Volume overall is low and Ichimoku Cloud shows a red cloud upcoming (resistance). Lastly, zooming out, you can see a Double Top Pattern, which is a bearish pattern . The $39K-$41K area is a very important area to keep an eye on. Shown in the chart: Trend line, Ichimoku Cloud, Support and Resistance Line, Volume, Volume Profile, Rising Wedge Pattern, Double Top Pattern. If you enjoy my ideas, feel free to like it and drop in a comment. I love reading your comments below. Disclosure: This is just my opinion and not any type of financial advice. I enjoy charting and discussing technical analysis . Don't trade based on my advice. Do your own research! #cryptopickk
BITSTAMP:BTCUSD
by MillionaireEconomics
16
ETH Ethereum: 1D and 2D Chart ReviewHello friends, today you can review the technical analysis idea on a 1D and 2D linear scale chart for Ethereum (ETH). I am showing the comparison of the 1D and 2D chart for Ethereum focusing in on the RSI (relative strength index). It has been over a year since the RSI on a 1D chart has been in the oversold region. The RSI on the 2D chart is about to reach oversold. I mapped out other historical RSI points in both charts when it was oversold. I also noted information on how long the Ethereum RSI was in the oversold region. I have drawn in both charts a multi-year support trend line as well as a dash trend line showing the prior cycle all time high as support. Also included in these charts are the Ichimoku Cloud. The 1D chart shows a bit of a red cloud coming up. No major change in Volume. Also shown is the 200 day moving average (200MA). If the price continues to fall but gets supported by the multi-year support trend line, there may be a good chance the Ethereum price could get back to into the top of the Ichimoku Cloud and back to the 200MA range. If you enjoy my ideas, feel free to like it and drop in a comment. I love reading your comments below. Disclosure: This is just my opinion and not any type of financial advice. I enjoy charting and discussing technical analysis . Don't trade based on my advice. Do your own research! #cryptopickk
COINBASE:ETHUSD
by MillionaireEconomics
2
ETH Ethereum: 1D Chart ReviewHello friends, today you can review the technical analysis idea on a 1D linear scale chart for Ethereum (ETH). The chart is self-explanatory. Ethereum price recently broke down from a Rising Channel inside the Rising Wedge it is currently in. The target move brings the price down to the 0.382 Fibonacci Retracement area. The RSI is currently meeting the resistance line and the Stoch RSI looks like it may be moving back down. Volume has been consistent. In the short-term there may be more downward pressure for Ethereum. If you enjoy my ideas, feel free to like it and drop in a comment. I love reading your comments below. Disclosure: This is just my opinion and not any type of financial advice. I enjoy charting and discussing technical analysis. Don't trade based on my advice. Do your own research! #cryptopickk
COINBASE:ETHUSD
by MillionaireEconomics
10
BTC Bitcoin: Fear & Greed Index InsightHello friends, today you can review the analysis on the 1D (daily) linear scale chart for Bitcoin (BTCUSD) showing the dates since February 2018 of when the Fear and Greed Index score reached a 10 as it did recently on January 8, 2022. You can use this to review how the historical price reacted to this score afterwards. The Fear and Greed Index can be reviewed on: alternative.me What are your opinions on this? If you enjoy my ideas, feel free to like it and drop in a comment. I love reading your comments below. Disclosure: This is just my opinion and not any type of financial advice. I enjoy charting and discussing technical analysis. Don't trade based on my advice. Do your own research! #cryptopickk
COINBASE:BTCUSD
by MillionaireEconomics
11
The Federal Reserve Effect on AssetsHello friends, today I am showing you six charts - US Dollar (DXY), 10 Year Treasury Interest Rate, Gold, Bitcoin (BTCUSD), WTI Crude Oil and S&P 500 Index (SPX). These are some of the biggest traded assets in the world. The vertical lines on each chart represents the beginning of the month. Over the three months since September 2021, the US Federal Reserve has been pointing to a reduction in balance sheet and dropping in hints of what the are considering (such as tapering, rate hikes and so on). This has directly impacted assets classes across the world as shown in these charts. There is no doubt that interest rates will go up if the Fed is openly saying they want to raise rates so it is with no doubt that the 10 year treasury is up. With that though oil has also been going up while other asset classes like Bitcoin, Gold and S&P 500 are going down. Interestingly the S&P 500 Index has not suffered as bad as Bitcoin has even though many consider them correlated in some way. This may be an indicator of what is to come soon. Lastly, the US Dollar seems to be getting stronger over the past few months and from my prior analysis of it (see ideas below), there is a strong potential for it to keep going higher. 2022 into 2023 will be a surely interesting year with what the Federal Reserve is looking to do. There are many other asset classes I didn't review on this analysis. If you want to drop in others, feel free to do so. What are your opinions on this? If you enjoy my ideas, feel free to like it and drop in a comment. I love reading your comments below. Disclosure: This is just my opinion and not any type of financial advice. I enjoy charting and discussing technical analysis. Don't trade based on my advice. Do your own research!
SP:SPX
by MillionaireEconomics
23
BTC Bitcoin: Head & Shoulders PotentialHello friends, today you can review the technical analysis idea on a 1D linear scale chart for Bitcoin (BTC). The chart is self-explanatory. The Bitcoin price could be forming a Head and Shoulders Pattern similar to before, but the price drop this time could be very concerning. There is a multi-month Support Trend Line which could possibly hold the price up. If you enjoy my ideas, feel free to like it and drop in a comment. I love reading your comments below. Disclosure: This is just my opinion and not any type of financial advice. I enjoy charting and discussing technical analysis . Don't trade based on my advice. Do your own research! #cryptopickk
Editors' picks
COINBASE:BTCUSD
by MillionaireEconomics
277
LINK Chainlink: Patterns In MotionHello friends, today you can review the technical analysis idea on a 4H linear scale chart for Chainlink (LINKUSD), a cryptocurrency. The chart is self-explanatory. This is a short-term chart with two bullish patterns (Descending Channel and Double Bottom Pattern) showing potential for upside. Though bullish, volume has dropped and Chainlink may be dependent on where Bitcoin and Ethereum are headed as those two cryptos are largest in the space. Additionally Shown: Ichimoku Clouds, RSI (Relative Strength Index), Stochastic RSI (Stoch RSI), Fibonacci Retracement, Support and Resistance Trendline, and Volume. If you enjoy my ideas, feel free to like it and drop in a comment. I love reading your comments below. As the year is coming to an end and holidays are almost here. I want to wish my friends Happy Holidays and ready for an exciting 2022! What are your thoughts for the coming year? Disclosure: This is just my opinion and not any type of financial advice. I enjoy charting and discussing technical analysis . Don't trade based on my advice. Do your own research! #cryptopickk
BITFINEX:LINKUSD
by MillionaireEconomics
9
MATIC Polygon: 1D Chart ReviewHello friends, today you can review the technical analysis idea on a 1D linear scale chart for Polygon (MATIC). The chart is self-explanatory. Polygon's price is in a multi-month Rising Wedge Pattern and the current price recently made an all time high and currently retracing down to the support trend line (Support 1). The chart shows a few other support trend lines to keep an eye on in case the price starts to fall. The RSI bounced off of the support trend line, which may help the price move up further. The Stoch RSI is oversold and has potential to move up. Also noted in the chart is the 200 EMA (moving average) as well as Volume. If you enjoy my ideas, feel free to like it and drop in a comment. I love reading your comments below. Disclosure: This is just my opinion and not any type of financial advice. I enjoy charting and discussing technical analysis . Don't trade based on my advice. Do your own research! #cryptopickk
M
by MillionaireEconomics
14
BTC Bitcoin Dominance: 1D Chart UpdateHello friends, today you can review the technical analysis idea on a 1D linear scale chart for the Bitcoin Dominance (BTC.D). The chart is self-explanatory. The Bitcoin Dominance is currently at a key area between a multi-year support line and a multi-month resistance line. The Bitcoin Dominance has formed a multi-month triple bottom pattern (bullish; in magenta color) and a multi-month double bottom pattern (bullish ; in blue color). The RSI (relative strength index) bounced off of a multi-month support line and potentially headed back upwards. There is still room for growth. If Bitcoin Dominance breaks up, it could be a great sign for the Bitcoin price. If it breaks the support line, a potential altcoin season may be coming very soon! Shown: Support and Resistance Line, Trendline, Double Bottom Pattern, Triple Bottom Pattern, RSI (relative strength index), Triangle Pattern If you enjoy my ideas, feel free to like it and drop in a comment. I love reading your comments below. Disclosure: This is just my opinion and not any type of financial advice. I enjoy charting and discussing technical analysis. Don't trade based on my advice. Do your own research! #cryptopickk
CRYPTOCAP:BTC.D
by MillionaireEconomics
11
ATT AT&T: Upside Potential BeginningQuick Analysis on AT&T Inc (ATT) on a 5D Linear Chart. 1) The AT&T stock price is back to the 2008-2010 lows. 2) The RSI (relative strength index) has been hovering in the oversold region and met the bottom trendline. 3) In the chart, a fractal from the previous price increase is shown assuming price moves in the same direction. 4) A Trend Based Fibonacci Extension is also shown to give the reader areas to focus on. 5) The Volume is healthy. 6) The price has suffered over the past 10 years and now there may be a chance for it to go back up. Let's see! What are your opinions on this? If you enjoy my ideas, feel free to like it and drop in a comment. I love reading your comments below. Disclosure: This is just my opinion and not any type of financial advice. I enjoy charting and discussing technical analysis. Don't trade based on my advice. Do your own research! #cryptopickk
NYSE:T
by MillionaireEconomics
4
BTC Bitcoin: 1H Chart UpdateHello friends, today you can review the technical analysis idea on a 1H linear scale chart for Bitcoin ( BTC ). The chart is self-explanatory. The price broke out of the Descending Parallel Channel and re-tested the top trendline. After the re-test the price moved up to the $48K area but was rejected and now attempting to move back up again. If the price can not break the 0.786 Fibonacci Retracement level, it may go to the 0.382 - 0.236 level or even lower (back into the Descending Parallel Channel). There is a Double Top Formation that may play out which is bearish. The RSI is being met with a resistance line and if it does not break above that line, the RSI may fall (indicating the price may fall). Getting back to the $53K price area is not going to be that easy unless a whale comes to buy! In the ideas noted below are a few mid-term and long-term Bitcoin charts. Please review. If you enjoy my ideas, feel free to like it and drop in a comment. I love reading your comments below. Disclosure: This is just my opinion and not any type of financial advice. I enjoy charting and discussing technical analysis. Don't trade based on my advice. Do your own research! #cryptopickk
BITSTAMP:BTCUSD
by MillionaireEconomics
8
BTC Bitcoin: 1D Chart UpdateHello friends, today you can review the technical analysis idea on a 1D linear scale chart for the Bitcoin (BTC). The chart is self-explanatory. If Bitcoin price continues upwards and does not fall below the support trendline, there may be potential for the price to go higher. The RSI complete a re-test of the support line and is moving higher. This may also help the price increase. Lastly, the price is at the edge of the green Ichimoku Cloud. If price does not get deeper into the cloud, it may get rejected and fall lower to the bottom support trend line. In the related ideas below I discuss the EMA Ribbons and 200 SMA. Please review those as well to get an idea of what is holding the price down. If you enjoy my ideas, feel free to like it and drop in a comment. I love reading your comments below. Disclosure: This is just my opinion and not any type of financial advice. I enjoy charting and discussing technical analysis . Don't trade based on my advice. Do your own research! #cryptopickk
COINBASE:BTCUSD
by MillionaireEconomics
BTC Bitcoin: Short-Term UpdateHello friends, today you can review the technical analysis idea on a 1H linear scale chart for Bitcoin (BTC). The chart is self-explanatory. The Bitcoin price is moving up the short-term rising broadening wedge pattern (generally bearish) and may be met with the Ichimoku Cloud (red - bearish). The Volume came in earlier today but seems to have dropped. The RSI is moving upwards in a rising channel. The Fibonacci Retracement shows the price hovering in the 0.786 area and having trouble closing a candle body above it for now. Overall the price may have the potential to move higher with the RSI moving higher to the overbought area before a retracement. In the ideas noted below are a few mid-term and long-term Bitcoin charts. Please review. If you enjoy my ideas, feel free to like it and drop in a comment. I love reading your comments below. Disclosure: This is just my opinion and not any type of financial advice. I enjoy charting and discussing technical analysis. Don't trade based on my advice. Do your own research! #cryptopickk
BITSTAMP:BTCUSDLong
by MillionaireEconomics
2
BTC Bitcoin: Log Growth CurveHello friends, today you can review the technical analysis idea on a 1M log scale chart for Bitcoin (BTC). The chart is self-explanatory. It shows the Bitcoin Logarithmic Growth Curve. The price has potential to make it past $100K as well as fall below $20K in the upcoming months. This is a simple version without the Fibonacci Retracements or Fibonacci Extensions. Many technical analysts have shown their version of the logarithmic growth curve for Bitcoin. This one is my version. If you enjoy my ideas, feel free to like it and drop in a comment. I love reading your comments below. Disclosure: This is just my opinion and not any type of financial advice. I enjoy charting and discussing technical analysis. Don't trade based on my advice. Do your own research! #cryptopickk
BITSTAMP:BTCUSD
by MillionaireEconomics
11