BTC is testing the inner upper bound of the bear pennant. The 10 year note has recovered to 1.43.
After finding support and a fourth Lower Low under 1.35, bond yields have had a mini bounce to produce a Bear Flag. A lower interest rate environment persists, will the volatility in bonds become a staple of the new markets?
Innovation Growth, BTC, and the 10 year note are under consolidation pressures as the bond briefly dropped below 1.35.
BTC is back to the midpoint of a 2 Hour Bear Pennant. Price has regained the fifty of the 29.3 to 69K range.
Right in the middle of this short frame range, pennants are one of the least reliable patterns, with supply and demand battling in a symmetrical format. Each play, bull or bear, relies on a break and back-test of the triangle for max RR. Being aware of the dual resistance above.
Competing patterns, with 2h bull pennant setting-up above support and an 8h bear flag after the sharp drop. Allowing for range to develop into a compression pattern and a clear break point as digestion of the move is in order.
Scouting the 4 hour Higher Low. The 8 Hour 8 EMA is above.
The Metaverse of Financial Markets - powered by Geotech, designed by nature, powered by design. BTC is testing the inner support structure of the Bear Flag
The famous volatility that has been the hallmark of BTC has returned, and with it a new chapter of price action. Price is back testing the .5 level of the 29.3 Higher Low to 69K ATH range.
Bitcoin is in EQ with resistance at the 8h 8EMA/MBB combo. The 10-Year has settled at 1.46. Nasdaq with resistance at the 4h 8EMA. ARKK testing the lower bound of the bear-flag, with the Russell recovering its 2h MBB.
After a quick bounce it was back to the consolidation for ARKK
In a 4h Bear Flag Nas produced a hammer off the LBB. The 8 EMA is above at 16060.
The upper bound of the Descending Broadening Wedge provide a potential neckline for an iH&S formation. BTC has resistance at the 8h MBB/8EMA combo.
Working through a 2h Bear Flag with with price below the 4h LBB resistance. Four zones of resistance above at the 4h 50 SMA.
The pattern illuminated the way, with a break of the lower bound to new lows. S&P500 rejected the 2h MBB as growth led a market-wide consolidation.
The Bear Flag choppiness continues for this basket of innovation growth stocks. Price is in the middle of a Daily Bear Flag range and it is likely prudent to let this play out a bit more.
The one area that is transitory is the messaging around whether or not inflation is in fact transitory. The new boss the same as the old boss, low rates for the win.
A broadening megaphone pattern embedded with-in the descending broadening wedge pattern has emerged, a game of patterns and we are right in middle. Time for some Actualverse time.