A very special thing happens when the sense of abundance in a market is replaced with scarcity. World over, capital has become expensive and will become even more so in the coming months. Based on the simple chart shown above (and many, many other metrics not discussed here for the purpose of brevity), it can be safely said that all rallys will be sold into for...
Michael Saylor led Microstrategy has 100k Bitcoins purchased at an average price of $26080. This is 13% below the neckline of the famed Head-And-Shoulders pattern for Bitcoin that still awaits confirmation. In the event of a breakdown, it is likely the price finds support at this level unless MSTR, like TSLA, announces the sale of its Bitcoin holdings in the next...
Dogecoin is forming a classic descending triangle formation that is likely to break towards the downside. This is a pattern that is particularly prevalent in markets with novice participants, which seems to be the case for $DOGE. Stay safe out there
Bitcoin is showing bearish momentum by continually trading below the 200DMA and not getting any strong reactions from high volume support zones. If this continues then it creates the possibility of bitcoin taking a dip to levels with greater buying interest.
Textbook consolidation pattern for $AMC. Price will likely spend some time in this region before making a decisive move. Although, it is quite overextended from the 200 MA across most timeframes, including the shorter ones, further upside cannot be ruled out. A daily close above $60 will possibly indicate a continuation towards the upside. And on the flipside, a...
With the USD M1 money stock going from 4.1 trillion in March 2020 to 18.1 trillion currently, and Biden planning an additional 6 trillion spending bill, things are not looking good for the Dollar Currency Index. Moreover, Russia and China aggressively moving their reserves out of USD is bad news for the DXY as well.
On the technical side of things, the monthly...
