Key pitchfork for current trend, sitting between the median line & 61.8% retrace, and the 50 DMA & 50% retrace
Following the hawkish FOMC yesterday, the EURUSD is pushing towards this lower slope in long-term pitchfork & 61.8% retrace of the March->May climb. This area was also key throughout august 2020
With the talk of a death cross coming for $BTC let's look back at what has happened on previous occasions (how long until golden cross & the largest % drop post death cross): • April 2014; 94 days until golden cross; -25.09% 2 days after cross • September 2014; 314 days until golden cross; -67.91% 132 days after cross • September 2015; 43 days until golden cross;...
The euro rally is looking like it may stall at the Yearly open, the 50% pitchfork line (blue dash) & median line. Note the RSI failing to break above 60 as the rally continued in May. A weekly close back below the 50% fib retrace would be further confirmation Break this trend line to trigger selling momentum
After the hawkish RBNZ overnight the kiwi has pushed back to the ~$0.73 level which has been key resistance in 2021 (a false breakout above in Feb). Median line in pitchfork slightly above. Break or reverse?
Currently retesting this key trendline, likely to break and push lower through weekend
Eth crashed to its 50% retrace of the advance from the March low, also finding the 200dma as buoyancy. Now trapped between the 100&200dma will cryptos recover from here or will we find another low? If we push lower look out the the previous ATH back in 2018 around $1400, which coincides with this relatively untested median line in the long-term pitchfork
After sitting on the top slope in this long-term pitchfork, following yesterdays crash in the crypto space, we've sunk below the 100dma, but not quite reached the 200dma. Supported by the 61.8% retrace and a shorter term pitchfork (below) will we recovery from here or be in for further declines?
After running into the median line, previous High Day Close back in 2017, litecoin has tumbled to its 200dma & 61.8% retrace of march->may rally. Further declines brings $112 to focus
After reacting to the top slope from my previous post we've rapidly approached the lower slope, which has more support alongside. The 38.2% fib retrace off the entire advance from the March lows & the 200DMA comes in at ~$40k. Also the previous top in January Break through this support and it'll likely be an extended bear market
Biggest drop since March, through the trendline, 50dma(purple) & 38.2% retrace right onto the lower slope of pitchfork and just above the 100DMA(blue)
Relatively untested pitchfork, coming into top slope lets see how price reacts at this level. $60k just above key psychological level.
Lower slope lined up perfectly with the 50% retrace, 38.2 now acting as resistance
Aussie is stuck between some key technicals 50 & 100DMA Topside resistance in 2021 @$0.779 Trend line off corona crash Wait for the break! 4hr
Euro testing this pitchfork median line , just below is a key support level tested throughout march & april, and the 38.2% retrace from the april advance
If we push higher from here the 38.2 retrace and median line up perfectly
After tagging the lower slope on the 17th March we've rallied all the way to the top slope in a month.