Gg23gg53

Gg23gg53

It seems BTC is hitting major resistance, if it can't break above it then we could see BTC breaking below the pattern, as it has already touched the bottom trend line of the pattern three times.

Gg23gg53

DXY is holding above the downtrend channel, as well formed a small falling wedge pattern within the channel which in cases like this is bullish. Also on the RSI it has bounced off the same support line which caused a pump right after, if DXY breaks out the wedge and resistance on the RSI. We could be looking at a short term pump for DXY during the first week of...

Gg23gg53

RSI showing BTC is getting close to hitting the bottom soon, based on this it could happen some time this summer. Things are getting interesting in the market with DXY looking like it has already reached its top and tech stocks having some nice pumps recently after being down for some months.

Gg23gg53

DXY is still in a down trend but it's possible that it could hit support soon and break out of that channel to the upside for short term. I find it interesting when DXY pumped on may 4th then BTC had the dump the day after, I'm expecting DXY to pump some time on may 30th then BTC to follow with another dump after.

Gg23gg53

From a closer point of view, we can see a rising wedge was formed, but BTC seemed to have some trouble breaking past the pink resistance line, thus having it touch two more times on the bottom line of the wedge before touching the top of the wedge again. Which could result a break through towards bottom and a further crash down.

Gg23gg53

After seeing that every time BTC has crossed below the orange logarithmic line, it has never pumped until it touched the blue logarithmic and the bottom trend line of the wedge. Which has me reconsidering in short term, that BTC will probably not pump to 34k and most likely we will see a further crash down at the beginning of june.

Gg23gg53

AMD looking good so far, sitting above the resistance line.

Gg23gg53

I thought this was interesting, in the past both bear markets formed a falling wedge , touched the support trend line of the pattern once, touched the 200 MA, also touched and stayed above the red logarithmic line other than the black swan event but it still kept above the line. In both cycles after these happened, a bull run occurred right after. It seems right...

Gg23gg53

DXY is still continuing in a downtrend channel and hasn't shown much signs that it will break out of the channel yet. I believe it will keep going down, as you can see on the RSI, a descending triangle has been formed and it will continue to stay inside the triangle. Until, it has touched twice for support on the light blue trend line.

Gg23gg53

It looks like BTC is forming a symmetrical triangle pattern, while DXY is still in a downtrend channel and hasn't shown any signs of breaking out of the channel at this moment. I expect in short term for BTC to have a break out soon then hitting resistance around 34.2k price.

Gg23gg53

As we see AMD breaking out a major resistance within the rising wedge, we could expect it to keep rising and hitting resistance around the circled area on the resistance trend line of the rising wedge. On the RSI, it also shows AMD has been continuing on a uptrend channel thus showing it has already hit support and its ready to move upwards.

Gg23gg53

Wow it amazes me of how long BTC has been consolidating between this price range due to the fact the circumstances in the economy right now. It has been holding its value very well, maybe we might have a break out to the upside for short term then probably hitting resistance around the 34.2K - 35.3K price range. we'll just have to wait and see.

Gg23gg53

It seems DXY is hitting resistance again with 21 EMA and downtrend line. Most likely short term if keeps closing below the trend line and EMA then DXY will keep going down, probably finding support again along the 100.196 price, and maybe bouncing off from there to break out. As for right now, it seems to be looking like DYX is inside a downtrend channel, thus it...

Gg23gg53

Anytime 200 MA has crossed below the red logarithmic line, a bull run has started. By following the 200 MA path, we can estimate that it could cross below in Q2 2023 if BTC can find support along the 200 MA inside the falling wedge pattern while breaking to the upside.