Expecting the dollar to rise soon once it tests support at the .382 level then finally hit resistance once it hits the white trend line and fall lower
Update from my previous post about bitcoin topping out.
another drop in the bitcoin price expected if price breaks support
A weakened dollar will be a major boost for crypto and the metals
Gold has been following my blue trend line for 2 years and I expect this trend to continue throughout its bull market.
After reviewing price and using my blue trend line I have clearly identified a pattern with price using the trend line as support and resistance for the past 7+ years. I'm anticipating a strong rejection from the blue trend line which is also in confluence with the previous high of bitcoin in 2017.
more confirmation leading to my bearish thesis from my earlier post of the head and shoulders pattern
price looks like it may retest the upper trend line of the channel before we have another reversal down to retest the lower trend line of the channel
Price is currently rising after a drop from the descending triangle. I'm expecting the price to face resistance at the bottom of the triangle and then rollover again.
US dollar has broken bullish from the falling wedge and may continue to go higher. However, there maybe possible signs of a bull trap based on my trend line and resistance just above the .618 fib level. Based on my TA we could see a possible bull trap occurring near or after the election.