In short term, Tesla was in a falling wedge pattern but now it has shown to be breaking out and we could expect further price up in the future.
DXY seems to be forming a bearish flag pattern which could lead to a further downside in the price. This could be a great thing for BTC, as DXY goes down the price of BTC could rise.
This shows the time frame of how long it took BTC to reach the bottom in both bear markets, right now BTC has reached the same amount of bars as the first bear market and at the same time it has reached the same orange line where both bear markets has reached the bottom.
Based on the LMACD, it's showing BTC has reached the bottom. I don't expect a huge pump just yet, I believe BTC will still move sideways for a couple of months but this is a positive sign showing bear market could be over.
We could expect further downside on BTC's price but I would say its getting close to the bottom. BTC has not yet crossed below the first orange line on the LMACD, which the other two times in the bear market has indicated the bottom for BTC then followed to find support before breaking out.
Testing out a new indicator I found, it's interesting that every time BTC has fallen below the top band, it has stayed in between both bands and moved sideways until breaking out to the upside. At this moment, BTC broken below the top band and even touched the bottom band as support, not sure if we have reached the bottom yet but based on past circumstances and if...
Based on how BTC has been dumping lately, it does make sense that it would go this low so far. I do believe BTC will still go lower today and find support along the bottom trend line as it did the other two times before having a pump.
When DXY hit support on the bottom trend line, it has been pumping parabolically. Right now, it seems to have hit resistance and showing to be incredibly over bought on the RSI if it closes below the top trend line, we could expect a massive dump to occur for the rest of June. This could result in BTC to have that rally in June like we have been anticipating.
It looks like BTC has bounced back up quite fast, and its possible it could have enough momentum to break out of this falling wedge pattern. If it does, I could expect BTC hitting resistance around 33k price range.
Polygon/Matic looking good to have a decent pump this month of june, it's forming a bullish flag pattern for a reversal. Once Polygon/Matic breaks above the yellow line on the RSI, then it should use that same line as support and bounce off for its pump to the top trend line.
At this moment, Tesla is forming a inverse head and shoulders is a bullish sentiment. I expect it to hit support today around 680 then have a break out to the upside starting next week.
There's a possibility that BTC might hit lower during the weekend due to the fact that it has formed a rising wedge from a downtrend but still it could also pump to the upside as BTC is unpredictable sometimes and likes to shock people. Another factor that comes to play that I found interesting was that anytime BTC touched twice on the logarithmic lines, it then...
I expect BTC to bounce from this support but hit resistance around the 33.3k price range then have a small decline after.
I do believe with DXY forming an uprising wedge in a downtrend channel that we could expect for further price down in the month June, which could result in BTC to have a rally in June.
At this moment, we can see BTC has been hitting resistance with the 0.5 fibonacci retracement line, as well slightly sitting on top of the trend line using as support. There's no confirmation yet that it would rally, we would have to see a clean break through above the 0.5 fibonacci retracement. Also a point to make, BTC is forming a bearish flag pattern from an...
DXY has just broken through to the upside and it is hitting resistance with 90 EMA. This isn't looking too good for BTC in short term, as we've seen in the past when DXY goes up then BTC goes down. If DXY breaks through above the 90 EMA, then we could expect this week to be somewhat a red week for BTC.
Its quite odd that DXY is forming a bullish flag pattern coming from a downtrend channel, usually bearish flags would cause higher lows and higher highs in such cases but right now it seems to being doing the opposite. Last time DXY created a bullish flag was when it pumped on may 4, here we are seeing a sort of similar play where it has bounced from the same...
BTC has just opened the week with a green candle after a long period of red candles, right now it has touched the light blue trend line as resistance which has been used as support in the past. If it beaks above that line of resistance, we could be looking at a further price up which could result a rally in june then a decline down around july to lower lows.