BTCUSD sell off after breaking down the rising wedge fell below strong support area between 73.7K-76.5K. Price is clearly below long-term average. Rebounds have been weak. ETH/BTC bottom reversal did not succeed so far. Trend is once again favoring BTC over ETH.
The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) breached the horizontal support at 143.1. This was the neckline of the completed H&S continuation. Several Global Equities benchmarks continue to remain above their 200-day averages while the geopolitical conditions are testing the strength of those established uptrends. Below 143.1 levels, the next support is the 200-day average at 137.46 levels. Price action can still be viewed as reversion to the mean.
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The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) breached the horizontal support at 143.1. This was the neckline of the completed H&S continuation. While the technical outlook for Global Equities continue to be positive with benchmarks still above their 200-day averages, the geopolitical conditions are testing the strength of those established uptrends. Below 143.1 levels, the next support is the 200-day average at 137.24 levels. Price action can still be viewed as reversion to the mean.
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The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) broke out of the sideways consolidation and is now resuming the uptrend. The benchmark completed a H&S continuation with the breakout above the horizontal resistance at 143.1 levels. H&S continuation price target is at 150.2 levels. Previous resistance at 143.1 becomes the new support. Technical outlook for Global Equities continue to be positive. It is not a strong directional move, but so far a steady one that formed an upward sloping channel with higher highs and higher lows. Breakdown of the channel and the horizontal support at 143.1 levels can result in a reversion to the mean.
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BTCUSD sell off after breaking down the rising wedge fell below strong support area between 73.7K-76.5K. Price is clearly below long-term average. Rebounds have been weak. ETH/BTC bottom reversal did not succeed so far. Trend is once again favoring BTC over ETH.
The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) broke out of the sideways consolidation and is now resuming the uptrend. The benchmark completed a H&S continuation with the breakout above the horizontal resistance at 143.1 levels. H&S continuation price target is at 150.2 levels. Previous resistance at 143.1 becomes the new support. Technical outlook for Global Equities continue to be positive. It is not a strong directional move, but so far a steady one that formed an upward sloping channel with higher highs and higher lows.
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The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) broke out of the sideways consolidation and is now resuming the uptrend. The benchmark completed a H&S continuation with the breakout above the horizontal resistance at 143.1 levels. H&S continuation price target is at 150.2 levels. Previous resistance at 143.1 becomes the new support. Technical outlook for Global Equities continue to be positive. It is not a strong directional move, but so far a steady one that formed an upward sloping channel with higher highs and higher lows.
Read More
BTCUSD sell off after breaking down the rising wedge fell below strong support area between 73.7K-76.5K. Price is clearly below long-term average. ETH/BTC bottom reversal did not succeed so far. Trend is once again favoring BTC over ETH.
The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) broke out of the sideways consolidation and is now resuming the uptrend. The benchmark completed a H&S continuation with the breakout above the horizontal resistance at 143.1 levels. H&S continuation price target is at 150.2 levels. Previous resistance at 143.1 becomes the new support. This week's correction was the second time the ETF tested the neckline and rebounded. Technical outlook for Global Equities continue to be positive.
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