The price of AUDUSD has been in a descending channel since February 2021.
At this point, it is testing the resistance imposed by the upper bound of the descending channel (green lines) around $0.74.
If the resistance can't be broken, it may continue its downtrend toward $0.70 (red lines).
This is a continuation of the analysis on the BTC dominance pattern discussed on January 21st 2022.
Back then, the dominance of Bitcoin had just broken the resistance of a descending trend (orange line) at ~40.7%
Since then, Bitcoin dominance has continued to move to the upside given increased market volatility.
The expected price action of BTCUSD (see BTCUSD...
This is a continuation from the BTCUSD pattern discussed on January 26th, and February 21st, 2022.
Recently, the price of bitcoin tested the bottom support levels provided by the intersection (yellow circle at ~$34.4k) of:
- the upper bound of a previously-formed descending broadening wedge (descending green lines)
- the support of higher lows (ascending green...
The price of Eth has been forming a head and shoulders (H&S) pattern since August 2021.
The current downtrend in price suggests that the right shoulder might finish forming in the next few days.
If the H&S is activated by closing below the neckline, the projection sets a target value of 1,210 USD. (in dark orange)
Still, support may be found at higher...
This is a continuation from the BTCUSD pattern discussed on January 26th, 2022.
Recently, Bitcoin’s price broke above a descending broadening wedge (orange lines) pattern in the daily chart.
The daily RSI also broke to the upside from the downtrend (orange line).
The recent price drop from USD$40k to USD$38.3k may be the beginning of a path toward finding...
I am publishing this idea originally posted by Mr. Pablo Gil – worth considering so I share it with you.
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The latest price action suggests the potential formation of a right shoulder in a Head & Shoulders pattern.
Currently price is bouncing from 4275 (orange line) toward a target of 4500-4600 (light green lines).
The RSI currently at 38.07...
BTCUSD currently seats at the lower Bollinger band in the daily timeframe.
Since the beginning of 2022 it has remained between the lower band and the middle band.
Currently, the middle band is priced at $40.8k and it coincides with the resistance placed by the downtrend of the lower highs.
The RSI levels also has room to move up to ~34 before finding...
Other than the end of the 2013 bull run, the time span from the pick RSI (at the top of the bull run) to the bottom of the RSI was between ~370-420 days.
Right now we are at a similar time span with respect to the top of the RSI in 2021, and are reaching RSI levels from March 2020. I interpret this as indicative of a move to the upside in price within the next...
The current price action of bitcoin is resulting in an increase in %dominance of the crypto market, bouncing again from ~40%.
It just broke a daily downtrend (in orange) and it may go test the larger downtrend around ~44% (in yellow) in the short term (Jan-Feb 2022).
This implies high price volatility ahead for bitcoin.
So far the weekly price and RSI are finding support on the ascending trend lines. We are currently testing 0.077 and close to testing 0.086 BTC - next levels of resistance would be 0.1BTC and 0.14 BTC.
