MKBillions

MKBillions

Ethereum is still holding within this bullish pennant which it has been in since early November. This shows that Ethereum currently has a lot of strength despite this market dip. If we manage to hold this pattern and break bullish out of it, Ethereum has a great chance of moving to $5,500 really soon.

MKBillions

After breaking down from the ascending channel that it was in, BTCUSD is now consolidating in what looks to be a bear flag (more visible on the 1hr). However, it might also be a double bottom (looks better on the 4hr). The MACD is converging bullish on the 4hr and the pair also looks to be breaking the resistance at approx 64.9k. However, on the 1hr the MACD looks...

MKBillions

USDJPY looks to be in a cup and handle pattern right now and specifically in the bull flag phase (the handle). We can also see that this pattern also looks like a double bottom and retest of the neckline (white line) and a bounce off of that. I personally will wait for this one-hour candle to close before concluding if it's actually in any of these bullish...

MKBillions Updated 

Just like GBPUSD, I am also bearish on EURUSD. On the daily chart, price rallied through the descending channel but met resistance at 1.19090. It broke the ascending line of support it was following throughout the rally and plunged down to to the resistance line of the horizontal channel, failed to flip it to support and is now trending below it. Target should be...

MKBillions Updated 

Yesterday, I informed you guys that GBPUSD will push back up to 1.38450 before coming down. Now, it's back down and testing the trendline. A break and retest (rejection) of this trendline will be confirmation to enter a sell position. My first target will be around the 1.37700 zone.

MKBillions Updated 

Solana has now broken out of the bullish pennant that it was in. If you go down to the 5-minute chart you will see that it has even flipped the top of the pennant (which coincides with the golden pocket fib) to strong support. The MACD has also flipped bullish. My target for this move is 172 assuming all goes well with Bitcoin.

MKBillions

Hey guys. After meeting my prediction of USDJPY going to 112.019 (see chart below), the price has now formed a double top at the resistance level and has since made a move to support at 111.242. I see three scenarios for USDJPY in the coming days or weeks. First, it will break the support level and hit 110.150 or it will go back to resistance at 111.660 and form a...

MKBillions Updated 

At the beginning of the week, I made a post saying that I expect this pair to drop to the 1.16640 zone and it is playing out nicely. It has now broken it's previous recent low at 1.17702 and I will not be looking for sells if I get a nice confirmation of the rejection.

MKBillions Updated 

After breaking the trendline last week, GBPUSD made it's way down to the 1.37290 level which is actually a strong support level as seen in the past. Once the markets open I expect this pair to retrace back to the golden pocket area which is between the 0.618 and 0.65 fib levels at 1.38399 and 1.38460. This might also be a second attempt to break back into the...

MKBillions Updated 

CADJPY has been holding a trendline as support since 85.109 which was the base of the descending channel it was in. Now at 88.315 it has broken this trendline and looks to be reversing to the downside. My first target will be at 87.670 as that is a strong level of support.

MKBillions Updated 

USDCAD has been holding a trendline as resistance since 1.28957 which was the top of the ascending channel it is in. The price bounced off the base of the ascending channel and has now broken this trendline, to reverse to the upside. My target is at 1.27806 provided that the price can get through all the resistance ahead.

MKBillions Updated 

On the daily timeframe, the price is in a pennant and is looking to break out. The target is at 112.019, however there is resistance at 110.966. A similar situation can be found on the 1hr timeframe. Currently price has found support at the Fibonacci golden ratio between 109.844 and 109.750.

MKBillions

Hey guys. There is a bear-flag on GBPUSD and it has now broken out from it. Wait for a retest as confirmation before making a trade. The target is at 1.33483.

MKBillions

USDCAD is in a long-term ascending channel which it has been holding since July 2021. This is actually a bearish pattern and is expected to pull to the downside in the long run provided that it can break through the rising level of support that it has been respecting since July (indicated by the lower white line). The target for this move will be at 1.22804 as...

MKBillions

Gold is currently in a descending channel against the US Dollar. This is a bullish pattern and therefore in the long-term, we should expect the price to eventually break to the upside provided that it can break through the resistance line of the wedge. The target would be 2080 which is the top of the channel indicated by the green line on the chart. However, In...

MKBillions

On the daily timeframe, USDJPY is in a bullish pennant with a target at 112.907. We have to wait for a break and retest of the structure before making a trade. Let's see how this plays out.

MKBillions

On the daily timeframe, CADJPY is in a descending wedge. This is really bullish and the target if it breaks to the upside (as it should), will be at 91.866. Wait for a break of this structure and a retest before taking a position. Let's see how this plays out.

MKBillions

CADJPY is currently in a descending channel. Depending on how the oil market plays out this week, I will expect CADJPY to breakout of this channel to the upside around the 87.207- 87.265 level, assuming it can break above the downtrending line of resistance. Otherwise, I expect it continue bouncing within this channel and my next target for this to the downside...