Today we see CRYPTOCAP:BTC breaking a major support level. Unless there is a turnaround this means that 52kish is likely next. Weekly #BTC at the green moving avg. Historically, this has not been the best gauge, but it has been "okay". The last 2 charts show the trajectories we expect(ed) for #bitcoin to follow through.
Short term #yield is higher. Long term has turned & are catching a bid. At the moment it doesn't look like they're going down any time soon & that is not good longer term. Was speaking with loan officer yesterday & they believe they must lower before election. But, what if it goes higher before it goes lower? TVC:TNX
Lots of talk about the #Dollar & #Yen as of the last day. US #Dolalr ( TVC:DXY ) has done well for some time. VS We've spoken on Japan a few times over the last year, has been the opposite. Daily shows that this trade is exhausting SHORT TERM! Look at that volume! Likely Japanese govt is intervening!
#Crypto has also done well since the call for a rally. CRYPTOCAP:BTC futures (as usual, pretty consistent, no?) show the better data. #bitcoin held the Moving Avg & support underneath. Spot traded beneath Mov Avg, showing a false breakdown. CRYPTOCAP:ETH bounced, like it's bigger brother. It looks stronger on Futures vs Spot. #BTC Shorts covered. #ETH had...
Don't think #GOLD is done by any means. HOWEVER....... Sold some positions around the date of bearish engulfing. As of today the precious metal is still @ that price level. We missed a lil more upside but it wasn't much oi the whole scheme of things. #SILVER shows same exact signs except the Bearish Engulfing. AMEX:GLD AMEX:SLV
Makes sense for NASDAQ:NDX to get a bounce here as it is at the 1st Support level after the December breakout & it is Oversold. NASDAQ:QQQE = Equal Weight #NASDAQ100 Never broke its ATH & it is Oversold on the daily chart. Weekly charts put it in the middle of the range. RSI needs to stay here to remain bullish. $ Flow has slowly waned.
CRYPTOCAP:BTC & CRYPTOCAP:ETH look almost identical the last few days, that is pretty interesting. However... Stretch the chart out a bit and it is a very different story. #BTC outperformed #ETH by a decent amount. ------------------------------------ Both CRYPTOCAP:BTC showed upcoming weakness. However, Futures #BTC Money Flow went below 0 & stayed...
The NASDAQ:NDX , Nasdaq 100, is at a support level on the daily chart, left. The 4Hr chart shows it is almost at the 320Moving avg, left. Being that there's support & the intraday is at a Major Moving Avg, we'll likely get some sort of bounce around here. The index is also oversold daily & intraday. NASDAQ:QQQ NASDAQ:TQQQ NASDAQ:SQQQ
Futures CRYPTOCAP:BTC has sold off and currently at 2 support levels. One of these is the blue moving average. However...... If you prefer spot #BTC analysis, we can see that #bitcoin is already trading underneath all moving averages & showing extreme weakness. Which one is correct?
Short term bonds are still trading below the bank fiasco crisis. 1 & 2YR Yields. However....... Long term #yield is higher than it was during the bank fiasco. 10 & 30 YR #Yield. Normalization of the curve is still a ways off.
CRYPTOCAP:BTC Futures Broke the small triangle pattern it was in & now it's in the larger one. Don't think it'll be August by the time it breaks, wither up or down. RSI is weak but the $ flow is better. VS #BTC Spot It is in a channel pattern. Bearish Moving Avg Crossover. Trading under the blue Moving Avg. Final charts show what could be if #bitcoin topped,...
It has been some time since we checked the #Japanese #Yen vs US #Dollar. Updated the chart a bit since last time. Clear bottom forming inverse head & Shoulder pattern. Broke and retested the 2002 highs. Bounced off the Green Moving Avg, successful retest. Japanese are selling foreign investments as their #interestrates have increased. We've spoken on that a few times.
🚨 🚨 🚨 #Gold is forming a Bearish Engulfing on the daily charts. Volume is almost there for a confirmation of the pattern. Money Flow is low. Overbought. Weekly we see Gold forming a doji = battle bulls & bears. #Silver is at a major resistance. This should be an interesting week... AMEX:GLD AMEX:GDX AMEX:GDXJ AMEX:SLV
Good Morning Everyone We finally see what we were expecting. That was the expectation for #Yields to pump higher. There was a NORMALIZATION of the yield curve taking place. However, the 2Yr has moved faster than 10Yr today. IF the #FederalReserve drops rates causing the normalization of the curve it could cause the end of this bull run. The best scenario would...
CRYPTOCAP:BTC broke out but it LACKED VOLUME, we brought that up. Since then, #BTC has come back into the Symmetrical Triangle pattern. IMO it will likely break before next week. #Bitcoin Money Flow does seem to be creeping up but it's most likely due to the lack of sellers at the moment. It is not real buying. This is ditto for $ETH. Shorts are hanging around...
CRYPTOCAP:BTC is currently breaking to the upside. #BTC RSI is very good, also breaking to the upside. Volume is the only thing lacking. What we just said for #Bitcoin also applies to $ETH. #ETH #ethereum
What a difference 11 hours makes. The 1 & 2 Yr #Yield are STILL under resistance & are weakening. 10 & 30 Yr completely reversed once markets opened. But this tends to be normal, pretty frequent. This is why waiting for a CLOSE is of utmost importance. IF we CLOSE here, last night's thinking is NO MORE and the best plan of action is to WAIT. TVC:TNX
Let's keep looking at #InterestRates. Gives us an idea of what the Fed may do. The 1 & 2 Year are still under their RESISTANCE level. Struggling a bit, but not breaking down. Trend is still there, weak though. 10 Yr looks like it wants to break the resistance zone. 30 YR looks like it's gone. Does not look like it wants to retrace at the moment. #FederalReserve TVC:TNX