MillionaireEconomics

MillionaireEconomics

Today I am charting the The US Dollar Index (DXY) on a monthly chart over a multi-year period. The chart shows a long term descending parallel channel (generally bullish), which the DXY has been trading in. Most recently it has broken a multi-year resistance zone, created through a double bottom pattern. If the DXY breaks out of the descending parallel channel,...

MillionaireEconomics Updated 

Hello friends, today you can review the technical analysis idea on a 4H linear scale chart for the Bitcoin (BTCUSD). The chart is self-explanatory. The BTC price has the potential for multiple scenarios (up and down) but I outlined 5 that I believe could happen within the short term. The price is inside a Rising Wedge Pattern, which is bearish. There are multiple...

MillionaireEconomics

Hello friends, today you can review the technical analysis idea on a 1W linear scale chart for the Bitcoin ( BTCUSD ). The chart is self-explanatory. The Bitcoin price has been heading down since the all time high and now below a major Support/Resistance Line around the $40K-$44K area. The price may get supported by the $30K area, however if it falls below that...

MillionaireEconomics Updated 

Hello friends, today you can review the technical analysis idea on a 1D linear scale chart for the Bitcoin (BTC). The Bitcoin price on the one day timeframe is about to meet with a Death-Cross (50 MA goes below 200 MA). Historically the Death-Cross is a bearish lagging signal which indicates the price may drop. It doesn't always happen but when it does, the price...

MillionaireEconomics Updated 

Hello friends, today you can review the technical analysis idea on a 1D linear scale chart for Fantom (FTMUSD). The chart is self-explanatory. The price is at the top end of the triangle pattern about to reach the resistance line. It is above the 20,50, 200 MA (simple moving average). It also is above the Ichimoku Cloud so if price immediately falls, it may get...

MillionaireEconomics Updated 

Hello friends, today you can review the technical analysis idea on a 1D linear scale chart for Binance Coin (BNBUSD). The chart is self-explanatory. The price is in a Descending Broadening Wedge pattern and is at the multi-month Support and Resistance trend line and looking to break back above it. The price is also above the 200 MA (simple moving average) and...

MillionaireEconomics

Hello friends, today you can review the technical analysis idea on a 1D linear scale chart for Dogecoin (DOGEUSD). The chart is self-explanatory. The price is in a descending wedge pattern with the price attempting to get back to the top resistance line. If the price breaks out of the descending wedge, look towards the Fibonacci Retracement levels. The RSI has a...

MillionaireEconomics Updated 

Hello friends, today you can review the technical analysis idea on a 1D linear scale chart for the Total Crypto Market Cap. The chart is showing a possible Head and Shoulders Pattern forming with the right shoulder currently forming. This may be invalidated if the crypto prices start to rise and increases the Total Crypto Market Cap. If the H&S pattern does...

MillionaireEconomics Updated 

Hello friends, today you can review the technical analysis idea on a 1D linear scale chart for the Bitcoin (BTC). The chart is self-explanatory. With the price bouncing off of a major support trendline around $39K-$40K, the price has the potential to move upwards. A key area will be looking at the 0.618 Fibonacci level on the Fibonacci Retracement (shown in the...

MillionaireEconomics

Hello friends, today you can review the technical analysis idea on a 1D linear scale chart for the Bitcoin (BTC). The chart is self-explanatory. The price has two potentials from the Support and Resistance Trend Line which is in confluence with the VPVR (Volume Profile). Volume overall is low and Ichimoku Cloud shows a red cloud upcoming (resistance). Lastly,...

MillionaireEconomics

Hello friends, today you can review the technical analysis idea on a 1D and 2D linear scale chart for Ethereum (ETH). I am showing the comparison of the 1D and 2D chart for Ethereum focusing in on the RSI (relative strength index). It has been over a year since the RSI on a 1D chart has been in the oversold region. The RSI on the 2D chart is about to reach...

MillionaireEconomics Updated 

Hello friends, today you can review the technical analysis idea on a 1D linear scale chart for Ethereum (ETH). The chart is self-explanatory. Ethereum price recently broke down from a Rising Channel inside the Rising Wedge it is currently in. The target move brings the price down to the 0.382 Fibonacci Retracement area. The RSI is currently meeting the resistance...

MillionaireEconomics

Hello friends, today you can review the analysis on the 1D (daily) linear scale chart for Bitcoin (BTCUSD) showing the dates since February 2018 of when the Fear and Greed Index score reached a 10 as it did recently on January 8, 2022. You can use this to review how the historical price reacted to this score afterwards. The Fear and Greed Index can be reviewed...

MillionaireEconomics

Hello friends, today I am showing you six charts - US Dollar (DXY), 10 Year Treasury Interest Rate, Gold, Bitcoin (BTCUSD), WTI Crude Oil and S&P 500 Index (SPX). These are some of the biggest traded assets in the world. The vertical lines on each chart represents the beginning of the month. Over the three months since September 2021, the US Federal Reserve has...

MillionaireEconomics Updated 

Hello friends, today you can review the technical analysis idea on a 1D linear scale chart for Bitcoin (BTC). The chart is self-explanatory. The Bitcoin price could be forming a Head and Shoulders Pattern similar to before, but the price drop this time could be very concerning. There is a multi-month Support Trend Line which could possibly hold the price up. If...

MillionaireEconomics Updated 

Hello friends, today you can review the technical analysis idea on a 4H linear scale chart for Chainlink (LINKUSD), a cryptocurrency. The chart is self-explanatory. This is a short-term chart with two bullish patterns (Descending Channel and Double Bottom Pattern) showing potential for upside. Though bullish, volume has dropped and Chainlink may be dependent on...

MillionaireEconomics Updated 

Hello friends, today you can review the technical analysis idea on a 1D linear scale chart for Polygon (MATIC). The chart is self-explanatory. Polygon's price is in a multi-month Rising Wedge Pattern and the current price recently made an all time high and currently retracing down to the support trend line (Support 1). The chart shows a few other support trend...

MillionaireEconomics

Hello friends, today you can review the technical analysis idea on a 1D linear scale chart for the Bitcoin Dominance (BTC.D). The chart is self-explanatory. The Bitcoin Dominance is currently at a key area between a multi-year support line and a multi-month resistance line. The Bitcoin Dominance has formed a multi-month triple bottom pattern (bullish; in magenta...