BTCUSD resistance area between 72K-76.5K. Rebound has been moving in a channel. ETH/BTC bottom reversal did not succeed so far. Trend is once again favoring BTC over ETH. Short-term consolidation on many pairs can become bearish continuations.
The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) recovered above its 200-day average at 137.85. Horizontal support at 136 levels held. Last week's volatile recovery above the 200-day average and this weeks gap opening above the average, tells us the benchmark is still holding its long-term uptrend. Only after established, consecutive closes below the long-term average we will start analyzing the chart with the bearish perspective. The gap between 140 and 143.5 can get filled during a pullback. 136-137.85 area continues to act as support.
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After reviewing several daily end of day charts and weekly charts from the weekend research, these opportunities from Global Equities are worth bringing to your attention as they get closer to breakout levels and can confirm chart pattern setups before the week finalizes. These charts will be discussed in the weekend report as well.
The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) breached its 200-day average at 137.58 and the horizontal support at 136 levels. Last week's volatile recovery above the 200-day average, tells us the benchmark is still holding its long-term uptrend and the downtrend is not at acceleration stage. Only after established, consecutive closes below the long-term average we will start analyzing the chart with the bearish perspective. Weak rebounds towards 143.1 levels can form a larger scale H&S top as part of a possible top reversal.
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BTCUSD sell off after breaking down the rising wedge fell below strong support area between 72K-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. Short-term consolidation on many pairs can become bearish continuations.
The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) breached its 200-day average at 137.57 and the horizontal support at 136 levels. Breakdown below the horizontal support at 136 can extend the downtrend below the year-long average. Previous support between 136 and 137.5 turns into resistance.
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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. Several Global Equities benchmarks are testing or breaching their 200-day averages while the geopolitical conditions are testing the strength of those established uptrends. Below 143.1 levels, the next support area is between 136 and 137.58. Price action can still be viewed as reversion to the mean. Breakdown below the horizontal support at 136 can extend the downtrend below the year-long average.
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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.
