formalrisk

formalrisk

BTC's pricing has stabilized quite a bit in a sideways wedge formation. Taking a look at the top, we can expect BTC to move up to 9300-9500 in the short-term. As SPX becomes more turbulent and loses ground, BTC will drop back down to the high 5000s, where it will once again begin its ascent to stabilize around the 7200 mark.

formalrisk

It's no surprise that BTC trails SPX performance. If the SPX takes a beating, BTC takes a beating. There has been a historical correlation between the two for some time now. That begs the question: are we ever going to see a divergence between BTC and SPX, and if so, why would it happen? Taking a look at my chart, I performed a regression analysis on BTC prices...

formalrisk Updated 

I've used the DMI to gauge the upcoming convergence between buying and selling volume, and as highlighted, they're moving closer together quite quickly. The MFI indicates higher selling volume and highlights oversold conditions at current prices. This is prime time for whales to start feeding. Last the ParaSAR is displayed to indicate overall strength of the...

formalrisk Updated 

BTCUSD has been playing a little stalemate with us as of the past week. As evidenced by the green parallel, there has been a strong trend upward since the Covid pullback, but that trend has become weak in recent days due to sideways price movement. Timing a breakout or pullback can be difficult, but I've set some price guidelines where the congestion channel...