Ruthenium

Ruthenium Updated 

There may be resistance at the 1980 level but the 100 Daily moving average is right here asa support level. The stochastics are not favorable here though. The equities market may produce some flight to quality if the AI boom goes poof.

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Dollar fell last week giving a bump last week but the 100 DMA was a cap looking for the PPLT to test the lower bound of an envelope....This would be a possible buying opportunity when the stock market corrects and get to a more buyable washout. Maybe we test 83 then 79 and if really bad news strikes we could get way over sold to hit 78. with the weak dollar that...

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I would hope I breaks UPWARD....but likely this is a continuation pattern to finish another test of the lower boundary. With all the talk of electrification My hopes may be granted....with the equities markets keeping up and rate hikes possibly slowing down UP would be the final breakout...

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Looks to have support from the 100 daily moving average. if there is a correction to 28.5K

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Some say overvalued by 5.7 % isn't much ..I show a technical breakout is close if they don't stop it here.. the 23.6 is 5.7% lower than spot. The green line is the top APR 2011 to Jan 2022.... Maybe instead of over valued the mean it is out of trend from the downdtrend regression. I can agree with that, but it looks like if it doesn't revrse here we have a...

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The downtrend was broken this AM. Rays of hope. I had a downtrend to the main channel in blue but this wen out the window with the morning price bonce. I hoped to get to 1789.

Ruthenium Updated 

Trend/ray analysis...shows these support levels. Huge Double top at 25K and major resistance at 21.4k

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Checkout the intersection of a recent trend channel with a much older one....

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Well looking at this developing over the last year. And we had two bounces off the bottom low and may head for a third test.....

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Copper is stronger than gold for the moment. Rising volume on rising ratio...gold falling has done this, copper holding its own against the dollar. More systemic problems and this ratio would fail the trend line. Falling interest rates would likely make gold surge not so much for copper if it is a negative economic event. If the event precipitates the falling...

Ruthenium Updated 

Added bear trap tiles for reversal potential....the tiles are the outs for the bulls so the bears well might go but with9+% inflation numbers Interest rates will climb to even higher ratchets down equities harder. Even the dollar started to weaken. PPI, jobless claims, retail sales, and import prices... the bears will need some luck.

Ruthenium Updated 

Just broke my downtrend boundary, MACD looks promising, 28 MA coming down for the challenge....first day of a break in copper for a relief rally?

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Areas of interest for future bitcoin speculation. These time and price zones could be places to place your bets.

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These are meaningful potential bottom fishing zones for me. Till the end of the year. Price has to have some meaning as to how it gets there in time.

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Well the new channel points back down to test the old uptrend. Long-term commodity channel that was from 2012 shows the Covid/Putin excursions that were responsible for excessive QE and government expenditures for war on whatever. WAR is such an overused concept. Anyway the bear channel, should it hold, needs to first get 1724 out of the way. 1650 would...

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850 is the range likely for a few weeks with a pulse to 800 range. Then the price could fall to a cost of production for a few months...maybe even a pulse below that for a few weeks. Might even stay there long enough to get some physical at decade lows. Then again who wants dollars? I guess 2.8% interest for a 10y bond with prospects for 7% inflation looks good...

Ruthenium Updated 

I went long at 85.4 on the idea that it would bounce. Hopefully we get back to the 200 MA at 92.81, first resistance is 88.90, then 91.69. DXY showed some weakness today. Maybe we get a roll back to 102 on DXY.

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Applying thes trend channels shows that Bitcoin used aas support have now become resistances. 200W MA above now, old breakout channel resistance, elliot wave point count 0ABC in place, future cross in September...Volumes in tokens are way down...