MillionaireEconomics

MillionaireEconomics Updated 

Hello friends, today you can review the technical analysis on a 1D linear scale chart for Solana (SOLUSD), a cryptocurrency. Quick Analysis: 1) The price of Solana is currently in a Descending Parallel Channel which has been respected for over a month. 2) The price failed the re-test of an important support line when the price was going up, however that line...

MillionaireEconomics Updated 

Hello friends, today you can review the technical analysis on a 1D linear scale chart for Avalanche (AVAXUSD), a cryptocurrency. Quick Analysis: 1) The price has been respecting a multi-month parallel channel it formed in early 2021. 2) Since August 2021, the price has been supported by a trendline, which it is hovering above/below over the past few days. 3) If...

MillionaireEconomics

Hello friends, today you can review the technical analysis on a 1D linear scale chart for Coinbase Global, Inc. (COIN), a stock traded on the Nasdaq exchange. Please review the chart as it is self explanatory. The key is to break the resistance line as the price is in a critical area. The overall pattern is a bearish one (Ascending Broadening Wedge or Rising...

MillionaireEconomics Updated 

Hello friends, today you can review the technical analysis on a 4H linear scale chart for Ethereum (ETHUSD), a cryptocurrency. 1) The Ethereum price currently broke down from the Symmetrical Triangle Pattern it was forming. 2) If price does not get back into the triangle, it may be supported by a Multi-Month Support Trendline. 3) If that support trendline...

MillionaireEconomics

Hello friends, today you can review the technical analysis on a 1D linear scale chart for Bitcoin (BTCUSD), a cryptocurrency. 1) The price recently dropped and has been consolidating since that point. 2) A prior BTC fractal (circled in the chart) could be potentially in early stages of the current price action. The price in that fractal took 63 days to...

MillionaireEconomics

Hello friends, today you can review the short-term technical analysis on a 1H linear scale chart for Dogecoin ( DOGEUSD ), a cryptocurrency. 1) Dogecoin price broke out of a multi-day Parallel Channel with respective support and resistance areas. 2) The price may come back down to the 0.236 Fibonacci Retracement area at the top of the channel before moving back...

MillionaireEconomics

Hello friends, today you can review the technical analysis on a 1D linear scale chart for Meta Platforms, Inc. (FB). 1) The price is currently in a Double Bottom Pattern with the potential of coming to a breakout area. 2) If price breaks out of the Double Bottom Pattern, it would move back inside a Parallel Channel it has been respecting since February 2020. It...

MillionaireEconomics

Hello friends, today you can review the technical analysis on a 1W linear scale chart for Litecoin ( LTCUSD ), a cryptocurrency. 1) Litecoin price has been falling since the May 2021 local high. 2) Currently the price is close to touching a multi-month support line. If price breaks the support line, keep an eye on the 0.236 Fibonacci Retracement level to possibly...

MillionaireEconomics Updated 

Hello friends, today you can review the technical analysis on a 4H linear scale chart for Bitcoin ( BTCUSD ), a cryptocurrency. 1) In a prior idea, I noted the price may go up as a result of the Double Bottom Pattern (bullish pattern). However there is a potential for a Head & Shoulders Pattern (H&S Pattern) as well, which is a bearish pattern. When reviewing...

MillionaireEconomics Updated 

Hello friends, today you can review the technical analysis on a 4H linear scale chart for Bitcoin (BTCUSD), a cryptocurrency. Quick Analysis: 1) This analysis is short-term and shows the Double Bottom Pattern Breakout Potential to around the $56K-$57K. 2) If price moves to that target, be ready for a potential Dead Cat Bounce scenario or Bull Trap scenario to...

MillionaireEconomics

Hello friends, today you can review the technical analysis on a 4H linear scale chart for Braintrust (BTRSTUSD). 1) Since the mega price drop a few months ago, the price has respected an Arc Formation with multiple touch points on the Arc. This is a macro pattern, not looking at the hour by hour price action. 2) The RSI (relative strength index) has also been...

MillionaireEconomics

Hello friends, today you can review the technical analysis on a 1W linear scale line chart for the Bitcoin Dominance. I generally look at candlestick charts, but for presentation purposes, a line chart is used. 1) The BTC Dominance has been respecting a Parallel Channel since the May 2021 crypto market correction. 2) Also there is a Bear Flag Pattern that has...

MillionaireEconomics

Hello friends, today you can review the technical analysis on a 4H linear scale chart for Bitcoin (BTCUSD), a cryptocurrency. Quick Analysis: 1) Though price has been falling over the past few days, it is important to note that there are two important support trendlines noted in the charts to stay above. There is also a resistance trendline which has been...

MillionaireEconomics

Hello friends, today you can review the technical analysis on a 4H linear scale chart for Shiba Inu (SHIBUSD), a cryptocurrency. Quick Analysis: 1) The price is supported by a multi-month trendline. 2) Recently the price broke out of a Falling Wedge Pattern and is currently moving upwards. 3) The price is headed into a heavily traded area as shown by the...

MillionaireEconomics

Hello friends, today you can review the technical analysis on linear scale charts for Ethereum ( ETHUSD ), a cryptocurrency. Quick Analysis: 1) The left two charts are showing a 2017-2018 and 2021 Ethereum chart with similar timeframes. The 2017-2018 chart shows a dip in the price followed up by consolidation before a blow off top. The same fractal seems to be...

MillionaireEconomics

Quick Analysis on Ginkgo Bioworks Holdings, Inc. (DNA) on a 4H Linear Chart. This is an Ark Invest (Cathie Wood) portfolio name. 1) The stock price for DNA looks to be potentially forming a Head and Shoulders Pattern with the current Right Shoulder formation in process. 2) The Right Shoulder price target would be around $12-$12.25 using the Volume Profile (VPVR)...

MillionaireEconomics

Quick Analysis on Polkadot ( DOTUSD ) on a 1D Linear Chart: 1) An Arc line has been drawn for Polkadot as the price has been moving up the Arc. 2) From the first top price of about $51 to the next top price of about $55, there was an estimated 10% price increase. The estimated new All Time High for the price, assuming a 10% increase, would be around $61-$62. 3)...

MillionaireEconomics Updated 

I am looking at the 1D chart for Algorand. I show the top and bottom multi-year trendlines and it seems that we may have some downside to go possibly based on historical trends. I showed a possible fractal from the past that may play out again. Lastly and most important, on the daily chart there is bearish divergence. This may be a good indicator of what's to...