BrettFogle

BrettFogle

Looking at my DXY zones of likely corresponding crypto effects... At this resistance area for the DXY, I would expect some kind of short to medium term pullback over the coming days or weeks. This would likely correspond to some level of bounce in Bitcoin, which I'm also expecting once it falls down to the $22,200 level, creating what looks like a Bull-Flag...

BrettFogle

The DXY is at a pivotal point here, and potentially breaking higher into a new upward trend channel. This would be bad for Bitcoin and crypto overall as the DXY has a strong inverse relationship. If the DXY stays in this area and drifts lower we could see a short-term crypto rally including Bitcoin and Ethereum. If it breaks up above the 103.5 to 104 level,...

BrettFogle

The weekly DXY chart appears to have bottomed and turning higher, which likely will lead to some profit taking pullback on Bitcoin and crypto overall, which is not unexpected here. I've outlined the zones here for where we could see more trouble for Bitcoin and crypto if the DXY pushes higher. Of course if we breakdown below support, and DXY that heads lower,...

BrettFogle

The market market rally has been fueled by the dropping DXY, but it's now close to important support. Will the DXY rally from here? Are we being setup for a disappointing FOMC announcement that could crash the markets, and see the DXY shoot higher? Or are we about to see a DXY breakdown here, and a 'Melt Up' situation in crypto -- before seeing another leg down...

BrettFogle

If you've been trading and investing long enough... (For me 25 years) You know that the 'News' conveniently gets released, to support market moves that have already happened. Not always, but more often than not. This news headline today makes me laugh, because we clearly shot up to technical resistance. People who say TA 'Doesn't Work' also make me laugh,...

BrettFogle

As we know, the DXY has an inverse relationship to BTC and the overall crypto markets. The DXY is now dropping down below key support in the 103 region, and looks like it will head lower to 101 or below. If this continues, that's good for a continuation in the rally in BTC and the broader markets. However, if it holds here and pushes higher into the 106-108...

BrettFogle

Interesting chart showing potential new up-trending channel for Bitcoin. To me, it looks and 'feels' like the bottom is in, coupled with an Alt-coin rally, as the AltPerp Index is showing clear signs up trending up. Also ETH.D is holding the line in it's uptrend that started back in Nov of 2019, and USDT.D which is inversely correlated to crypto prices, is...

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BrettFogle

Happy New Year! In 2023 I plan to host more Livestreams on TreadingView and share what's been working well for me and my students the past 2 years.

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BrettFogle

With 20+ years investing experience in stocks, options, Forex and cryptocurrency I'm excited to bring you my seasoned analysis. Also the best in next-level technology and indicators to make better decisions in today's volatile markets. Let's trade!

BrettFogle

Interesting chart here on the DXY daily we can see the sharp pull back to strong support line so that’s one more clue that things are about to get uglier in the crypto space. This past week‘s events have cast the block shadow on the entire industry and likely will put increased pressure on institutions and big investors to further limit exposure. In the life...

BrettFogle

Another great clue in terms of market direction is the USDT.D (USDT Dominance) chart. I predicted this drop to the lower end of this rising channel on USDT.T last week, and while it's unclear looking at the Bitcoin chart, it's more clear to me judging from this chart of USDT.D that we'll see a bounce here. And due to the inverse relationship of BTC and USDT,...

BrettFogle

BTC is rolling over just as I drew on my charts last week and during our live Wednesday class. We have a Bearish ERI signal (Custom) on the daily and our Trend Strength Indicator (TSI) is also rolling over printing a Red reversal signal. Will be interesting to see how the weekly chart closes tomorrow. For now, looks like we're heading lower and I would...

BrettFogle

Was trying to do a video of this to publish but am having issues with the TV recorder not uploading properly. Hopefully the Mods are ok with me posting this link of my analysis: www.screencast.com Basically I'm seeing an obvious Bear Flag pattern which has been building the past few days and best seen on a 1 Hour / 4 Hour chart. I'm expecting a push higher to...

BrettFogle

While the DXY is over extended, it's also very possible to continue higher to re-test the 120 levels which would coincide with another major leg down on BTC. If the DXY pulls back here, we could see a short term Bitcoin rally (Bull Trap) along with the altcoins, and then another DXY pump and BTC drop. But I think we could certainly see another rapid leg down...

BrettFogle

USDT.D is again testing a historical high levels at 5.2% and this is the 5th attempt to break above this key level. As we know, as money goes into USDT, it's leaving crypto and especially Bitcoin. So we'll have to see how today's candle closes and tomorrow's weekly close. We could also see a rebound here, and USDT falls, as Bitcoin and crypto rallies in the...

BrettFogle

While we didn't get the 'DeFi Summer' that many expected, things appear to be heating up in DeFi right now, going into 2022. The Crypto Total DeFi Market Cap chart in TradingView here is showing bullish signals both on the daily candle (which is sitting nicely on the uptrending 21 day EMA, which I call a 'Rocket on the Launchpad') -- but also our custom...

BrettFogle

In this chart of Bitcoin's monthly RSI we can see that it's heading lower toward a still upward trending level of support, but this indicates further downside this week to close the month / year for BTC. We can see the important support / resistance levels for Bitcoin over the years, where the RSI has been rejected or acted as support, so any long-term bullish...

BrettFogle

Bitcoin will likely see further downside from here as shown. The 100 EMA might provide some support, but the likely BTC will drop to the rising trendline as shown, and put in a higher low around $52k to $52.5. More than likely $52k on a wick down, but this will be Bullish for a strong bounce off of this region and off to new ATH in December. Let me know your...