The SPX is currently challenging new highs. Just like in 2015 where there was a period of resistance, that was eventually broken, I see this market going higher in a few months.
It appears that this latest week which is ending today is a reversal candle which will lead to $3500 BTC. If we find support at the $3500 level you should see a bounce to the $5500 level. Otherwise we should find a level of support around the ~$2000 level.
The next couple of months should present us with a good buying opportunity for Bitcoin. We could still see a crash below the baseline but I expect the support level should always force the price to close above it on the monthly candle.
It appears there there a bullish flag on the chart however we are getting close to resistance so be careful.
It appears that there is an ascending triangle that could break the downward trend-line and bring the price of bitcoin up to ~$6900.
We are currently testing a trend line that has been in play for six months. This is a crucial moment for bitcoin.
We have an ascending triangle on the four hour chart. It appears to be almost complete. Could see a big price move in the next four hours.
It appears that there is a bullish flag forming that could cause the price of bitcoin to move above $8000.
There is clear price resistance at the 100 Day Moving Average. Expect more resistance at the top of the falling wedge. If we break that resistance point I expect the price to continue upward.
There is a very clear ascending triangle forming in the DJI I expect it to break to the upside by end of August. Because it Is supported by the 52 Week Moving Average I give it a 70% probability of bullish move in August.
A few days ago when the 100 day moving average crossed above the 200 day moving average the price reversed. This may be a short term reversal if the price stays under the 50 day moving average.
There are multiple points of support that indicate bitcoin is in a large falling wedge. The current price is being suppressed by the 50 day moving average and it is likely that the price of bitcoin will fall to $5600 by the end of the week. If the price closes below the ~$5600 range we could be in some serious trouble.