This is a monthly chart of the value of the US dollar.
Key Points:
1. Thick green line and red circles: major area of support/resistance at ~92.5
2. ~41.57% decline from Jan-02 to Mar-08 (bottoming at ~70.72 black line)
3. Showing the level dollar would reach if we had the same drop and assuming we topped Jan-17 (dollar value would = 60.68)
4. Blue trend lines: historical downward trend lines
5. 3 Black lines show key areas of interest where we may hit: (1) Prior Mar-08 bottom, (2) Area within blue trend lines, (3) Same % drop as Jan-02 thru Mar-08
6. Sep-18 to Feb-20 shows 2 black lines depicting a rising wedge which has since broken to the downside as expected
Fibs would also be interesting to look at
It is also important to note that there has been an interesting argument made regarding the rise in value of crypto relative to loss in value of the dollar
Key Points:
1. Thick green line and red circles: major area of support/resistance at ~92.5
2. ~41.57% decline from Jan-02 to Mar-08 (bottoming at ~70.72 black line)
3. Showing the level dollar would reach if we had the same drop and assuming we topped Jan-17 (dollar value would = 60.68)
4. Blue trend lines: historical downward trend lines
5. 3 Black lines show key areas of interest where we may hit: (1) Prior Mar-08 bottom, (2) Area within blue trend lines, (3) Same % drop as Jan-02 thru Mar-08
6. Sep-18 to Feb-20 shows 2 black lines depicting a rising wedge which has since broken to the downside as expected
Fibs would also be interesting to look at
It is also important to note that there has been an interesting argument made regarding the rise in value of crypto relative to loss in value of the dollar
Comment:
Once the long-term uptrend shown has been broken, we're going to see massive down-side
Once the long-term uptrend shown has been broken, we're going to see massive down-side
Comment:
We hit a major area of support/resistance at 92.5 (red circles)
What's to come next:
Target 1: 200 Monthly SMA around 87
Target 2: Black descending line of support. I am expecting it to hit that line between Nov-21 to Jan-22. That would imply a value of 82 given that is where the black descending line is at that point in time
We hit a major area of support/resistance at 92.5 (red circles)
What's to come next:
Target 1: 200 Monthly SMA around 87
Target 2: Black descending line of support. I am expecting it to hit that line between Nov-21 to Jan-22. That would imply a value of 82 given that is where the black descending line is at that point in time
Comment:
As the dollar continues to decline in value, I fully expect it to result in massive appreciation in value of the entire cryptocurrency market similar to the prior 2017 bull cycle. Plan accordingly!
Comment:
Major black trend line broken and retested on the monthly is clearly shown
My 2 targets are shown; fully expecting the dollar devaluing to the 80 level
Major black trend line broken and retested on the monthly is clearly shown
My 2 targets are shown; fully expecting the dollar devaluing to the 80 level
Comment:
It's been a bit since an update
This picture clearly shows a break of our trend line, an attempt to get back above (it happened briefly), then another break and retest to get above, ultimately failing and falling lower, finding support around the historical area of support at 92
Keep in mind, general rule in TA: the more we test an area of support/resistance, the more likely it is to break. We keep knocking on that 92 level. I strongly suspect it will break shortly.
This picture clearly shows a break of our trend line, an attempt to get back above (it happened briefly), then another break and retest to get above, ultimately failing and falling lower, finding support around the historical area of support at 92
Keep in mind, general rule in TA: the more we test an area of support/resistance, the more likely it is to break. We keep knocking on that 92 level. I strongly suspect it will break shortly.
Comment:
Once it does break, I show 2 key ranges I expect it to hit
(1) 89-87: First target range to temporarily bounce and find support prior to hitting target 2
(2) 83-80: Second target range I ultimately expect us to land at. Key Fib level and a key rising trend line both find confluence around this area.
(1) 89-87: First target range to temporarily bounce and find support prior to hitting target 2
(2) 83-80: Second target range I ultimately expect us to land at. Key Fib level and a key rising trend line both find confluence around this area.
Comment:
Grey multi-year trend line shown with green circles showing bounces creating trend line
Comment:
We got our break DOWN as suspected!
This is a one of the most positive things to see if you're in the crypto space.
Keep an eye on just how far we drop (my initial view of 2 targets shown), and at the same time, watch how the Crypto market begins to massively appreciate in value
We got our break DOWN as suspected!
This is a one of the most positive things to see if you're in the crypto space.
Keep an eye on just how far we drop (my initial view of 2 targets shown), and at the same time, watch how the Crypto market begins to massively appreciate in value
Been a long time since an update! Long-term downtrend has held. Thank you FED!
It'll be interesting to see if the 92-91 value holds and for how long. Meaning, that range has been a key area of resistance/support. So it should theoretically provide at least some temporary support. However, there's no reason we can't go straight through it, and wick back at that level as resistance, and continue plummeting. Certainly would make sense given the last time we saw this sort of declining movement was at the same time crypto went parabolic. And I am expecting a massive bull run in crypto