dudebruhwhoa

dudebruhwhoa Updated 

Major update to an older post. DXY is approaching monthly support and will soon make a decision on whether or not it moves back up to 105 -> 112 and above. RSI is diverging bullish, and also maintaining a long-term uptrend, thus far. This could indicate that monthly support holds and we see a strong move up soon. On the other hand, should it lose monthly...

dudebruhwhoa Updated 

Unconfirmed cup n' handle pattern on the 1h chart for BINANCE:HBARBTC What is confirmed? - We have a cup - We have a handle - We broke above the handle and have held above it - We've held above highs near the early formation of the left side of the cup What's required to complete confirmation? - Break and hold above the red line at 256 (252 was the...

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This is Bitcoin's first crossing of the 50 week Moving Average below the 200 week Moving Average, during its history. The last time we came close was just prior to the 2016-17 bull run. The difference then is that it never moved below. Could this act as a catalyst to recover back above the 200 week MA, and become bullish, or is this signs an extended bear...

dudebruhwhoa Updated 

Lower timeframes don't look quite as similar, unless you look at the 2h TF. The daily here has some striking resemblances though. I am bullish on Bitcoin here, but I like to consider alternatives, and there could be a pretty decent case made that Bitcoin is about to enter Phase E of distribution and make a strong move down.

dudebruhwhoa Updated 

RSI and MACD have been diverging from price. Expecting a correction to at least ~11%

dudebruhwhoa Updated 

Quick mini update on HBAR / BTC pair: Broke above a falling wedge on the daily, reached TP 1. Since then it has maintained above the little green support area drawn on the chart, and should be moving up to 216 sats or TP 2 next. This lines up with the 200 day EMA after getting above the 50 day EMA/MA. 229 sats could also be reached if it hits the 200 day MA

dudebruhwhoa Updated 

HBAR's market dominance looks like it wants to move towards 0.9 -> 1%. This would be a pretty massive increase in its position in the crypto total market. Weekly dominance has held around the same levels for quite some time now, with a previous breakout that moved back down to support. It has since broken out a 2nd time. RSI and MACD indicated this...

dudebruhwhoa Updated 

HBAR will remain bullish as long as it remains above the wedge it broke out of. This is a re-draw of the previously posted wedge that I think makes a bit more sense. Should it stop moving down anywhere above or within the green box, I'll expect it to continue up towards targets marked on the chart above - TP 1 and 2.

dudebruhwhoa Updated 

Bitcoin and DXY tend to do the opposite of each other, even if they do the same thing on lower time-frames, they eventually catch up and move in a negatively correlated manner. Bitcoin has dipped after tapping 31k. I believe the dip will be short-lived and we should see DXY continue down into lower 101s while Bitcoin continues up into the 32k area. DXY 4h chart:

dudebruhwhoa Updated 

Unpopular idea - CRYPTOCAP:BTC.D could actually be dropping hard here after falling just under resistance at ~53%. It stopped directly where the lowest wick stopped below that resistance, and also stopped at the top of this expanding wedge. Could we see a move down to the bottom of the wedge and finally make the new all-time-low that everyone was expecting a...

dudebruhwhoa Updated 

DXY dropped out of its 4h uptrend, presently re-testing a 2nd time after failing to reclaim the channel the first time. RSI is diverging bearish against price.

dudebruhwhoa Updated 

This is a 4h view of the daily chart, which has already broken out of a falling wedge. That breakout has created a smaller falling wedge as it has re-tested the top of the daily wedge multiple times since breaking above it. Following its initial breakout, it formed and inverted head and shoulders, and looked ready for a bullish move up. That pattern failed and...

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Could the US Dollar Index revisit its all time high, as the Euro again sees its all time low? TVC:DXY broke a long-term falling wedge, re-tested its top and then moved up. FX:EURUSD broke a long-term rising wedge, re-tested its bottom and then moved down. The Euro has risen slightly above the middle of its "M" or double-top pattern. This could be a...

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Here's an example of a pitchfork drawn on the 2 weekly BNC:BLX chart, measured from the March 2020 low to the Nov 2021 high and completed at the Nov 2022 low, and then extended in direction and levels (up to 9 levels can be added). The chart above makes for a solid example of how pitchforks can be used to derive a trend or channel and find solid support and...

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An example of how a modified Schiff Pitchfork, with lines extended, can be used to ascertain trend and various trend levels for the full chart history of BINANCE:HBARUSD Pitchforks can be extended to detect new bottoms and tops as well:

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If we continue to hold the triangle, Bitcoin should move up to the 32k area. Lose the triangle and we could see a small double-top that revisits the 28k area.

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A bearish divergence between RSI and price on the 2 weekly chart led to a drop in the dollar index. It will likely re-test the upper trendline on the chart, around ~100. From there, it will either bounce or fall below, potentially making a 3rd higher high above the lower trendline, well above ~88-90.

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Here's a look at CRYPTOCAP:OTHERS.D or Altcoin Dominance vs. itself, but without CRYPTOCAP:USDT.D and CRYPTOCAP:USDC.D When removing the calculation of stablecoins dominance from the picture, the pattern looks less like a downtrend and more like a potential bottom that may soon reverse. Most are not expecting this with the present rise of ...