just gonna post this quick take here... DXY paused at major resistance 103.593, little retrace, formed a descending scallop and continued falling... although the resistance gets thicker down towards 100, I don't see any good reason why to stop now. dxy continues down until around 97 over the coming weeks.. until march when fed projects the next years interest...
in the bigger picture, because of illiquid market, BTC has been able to pump with very little resistance. Only slowing down for 21k breaking 21k, 22 has another major resistance, but I think the potential for BITCOIN
following the greater trend... BLD could see some nice action this year, IMO no fancy analytics, here... just a trendline, a wedge and some educated guesses
this is below resistance... easier to see on lower time-frames I suspect dxy will keep dumping and bitcoin will keep pumping for another day either way.. i missed the window I wanted..
waiting for the dxy market to open... figured I should write some of this down I think DXY should drop back towards 103 before reaching again towards 106 \ 108. This heavily bearish narritive for risk assets is designed to keep markets from over-exuberance at this change of tide. I do think its possible to see more bullishness for dxy, in the short term... but...
whatever comes from this falling wedge, I don't expect DXY above 106 again this year... probably the wedge fails what I do expect is DXY to break down.. if not immediately following todays economic data (which might be difficult for the market to process) then for the FOMC meeting
Just an idea... but I measured those first two for length and price to create that third pump of equal proportions That dump is based upon a couple things.. lots of miner sending BTC to exchange... and a that would make a second bottom about a month after the first, which will make that a bit more convincing as double bottom we could dip much further, but I...
closer look for idea linked below See the falling broadening wedge playing very similar as last week.
that fractal can get BTC to around 17650, with resistance starting to show around 17936. I wld be watching this very carefully as there is potential for a big dump around 18k. if we are to maintain bullish momentum it won't drop much below current levels There is potential to drop as low as 16k and maintain bullish, as long as we don't make significant new...
Its not enough to find a pattern that looks good, but a more complete understanding comes from multiple patterns and indicators confirming eachother. you can see from my previous ideas on bitcoin that I'm always looking for patterns on as high of time-frames as possible.
I have strong feeling for bitcoin to break out from here... that said, lets aknowledge previous instantiations of this fractal just within our recent price history suggests we can get a dip before ascending, instead of following the most recent odd ball that breaks up first
Once SOL completes this triangle, where I expect a few touches to that upper trendline. once it breaks above, will shoot towards $19
just pushing the lines around here and retesting support become resistance before the next leg down
As I'm writing here its happening that we get in fact that tap of the trendline that's just begun on our fresh ascent from local lows I haven't changed position, but something major would have to happen, which now we have a really high bar for major.... just ride it out, nothing has changed... just a little jitters out there
this pump is just getting started and CRO is showing signs of life. Is it all done for now, or will we see a retest of major resistance with $BTC pressing 18k?
DXY fall back to the channel and turn back around on July 4
I won't be surprised if this pattern plays out something like that descending triangle possibly forming here, the dip of which could fuel the next pump
Now broken thru both major and minor resistance. next big resistance comes around 102.6 but I think this can play as a measured move, and quickly fill towards the end of that wedge forming DXY can complete the trend and find some releif towards the end of this year or beginning of next