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In my last post on Tuesday I was looking at the bullish consolidation options on Bitcoin (BTCUSD), Solana (SOLUSD) & Ethereum (ETHUSD), and those have played out mostly as expected since.
A small H&S had broken down on Bitcoin, and I was saying that might well fail into a retest of the prior high at 98.7k and then go higher and we saw that.
BTCUSD 15min chart:
I was saying on my last post that there were daily sell signals fixed on BTCUSD (Bitcoin) and SOLUSD (Solana), that a bullish consolidation period looked very possible and we’ve been seeing that. So how’s that going?
On the Bitcoin daily chart below the daily RSI 5 sell signal has almost reached the possible near miss target at 31 to 37 on the RSI 5 and that might be enough. The RSI 14 sell signal has fixed but is a longer term signal and we may well see significantly higher highs before that makes target. It is an early warning to watch out for a longer multi-week or month consolidation that may be coming in the first months of next year.
(more…)In the last couple of weeks of October I was writing about the likelihood of seeing a bullish November, and we saw that, but it wasn’t really what I had in mind. The bullish part came when Trump won the presidential election and, on SPX at least, the rest of the month was spent retesting that high, with both SPX and ES both now at new all time highs from there.
I was looking for more, and we might still get more, but more than half of the bullish window into Xmas is now behind us, and the news coming from the coming new administration is already starting to disturb the markets.
(more…)On Friday morning I was looking at an interesting bull setup across the Crypto instruments that I look at every day. You can see that here if you’re interested in my Crypto channel on YouYube.
On Bitcoin (BTCUSD) a small but bullish leaning falling wedge was starting to break up, and I was saying that I was expecting that to deliver a retest of the all time high in due course. That has delivered now.
BTCUSD 15min chart:
In my last post on oil and natural gas I was talking about starting to do a post every week or two reviewing a single instrument that I cover in my futures and currencies charts on multiple timeframes to sketch out the higher probability paths going forward. This is the first of those posts, apart obviously from my earlier posts on oil and nat gas. I’ll be aiming to do one of these posts every week.
This week I’m going to look at a very important inflection point that looks likely to be coming up on US treasuries over the next few months to a year. I wrote in January on the TNX daily chart below that I was expecting a possible topping pattern to form, either a double top or an H&S after a test of the obvious possible H&S neckline at 32.53.
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