The S&P500 is showing signs of weakness in the current uptrend, and the formation of a long term tentative rising wedge (classically a bearish pattern) is indicative of a potential break down. Price action coming up to once again retest the resistance trend line, another rejection here would be detrimental and a retest of the supporting trend line would be likely....
Bullflag on the weekly, Stochastic RSI fully corrected and upwards momentum to start picking up soon, Long above 11300-11500 Donate: Bitcoin: 142Tm5VjPFPXydS8b7mXNbvyzH94LUYuxp Ethereum: 0xfCf3B9C57d0fDB0FdaB0B6f5C27B71eAf3eeb302 Website: tych.online
Ethereum appears to have found a floor exactly where it found a roof before a break to 367 earlier on in the year. Heikin Ashi candle patterns would indicate we have set a trend reversal, in line with a break of this falling wedge, a crossover on the weekly Stoch RSI and the 3D Ichimoku having flipped green, still need to see volume increase, but I would be long...
BTCUSD has flirted with this long term trendline dating as far back as, where I would consider the initial touch to be, 19th September 2011; 8 years of trading have shown that this could well be the general direction for the price action of the cryptocurrency. If price action continues to move sideways, we could well see a retest of the aforementioned trendline....