This is typically a bullish sign for assets demonstrating this pattern so we see the weekly diverging to a point which would indicate a breakout!
There are larger fundamental plays here with the SEC that could invalidate this massively but for now we are on the same time frame as institutions and seeing a clear pattern so the real question is which was will it breakout?
$BTC has seen a bounce off of the 200 MA.
We should also see that social engagement is up, social volume is up, price is up!
It's the largest institution in the world that really moves the price of BTC, not us with our 'diamond hands' unfortunately but this is encouraging to see a major indicator used by institutions holding for BTC. I think this means...
$ET is looking interesting as Texas has become a centre for business (Samsung mega chip factory) and cryptocurrencies ($BTC mining 20% global hash rate) combine this with the winter and increased gas prices as a result from last winter, oh and did I mention more frequent and severe storms. This will all lead to higher natural gas and energy prices which leads to...
We see a solid support level on the 20 MA from the Nasdaq - given the recent pump in tech stocks it looks like growth isn't enough to pump these stocks to unlimited ATHs so I feel we will see a pullback before pushing ahead to the old ATH as a resistance before new highs.
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A double top is forming on the $SPY as momentum is falling out of the market. The clear trend to the upside has been touching closer to this trend line and not re-bounding as much as previously. I see a pullback coming before a continuous push to the upside.
$MANA is looking very strong and as we continue to see further investment and speculation around the Metaverse Decentraland will only gain in popularity in the near-term!
Technically we see these technical support and resistance levels which we will bounce off off to the upside - Who is with me?
