BTCUSD consolidation between 84K and 95K can be a reversion to the mean. The broadening top price target was met with the recent sell-off. ETH outperformed BTC in the short-term and the pair is looking for continuation higher. BTC is looking for a base/a well-defined chart pattern.
The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) after finding support at 136 levels and rebounding strong, found resistance at 143.1 levels. The sideways correction seems contained with the consolidation between horizontal boundaries of 136 and 143.1 levels. Uptrend is intact. Breakout from the sideways consolidation can resume the uptrend. Failure to clear 143.1 is now resulting in a range-bound price action between 136 and 143.1. A possible H&S continuation might be forming with the right shoulder in progress. H&S continuation price target is at 150.2 levels. A strong daily close above 143.1 levels will confirm the breakout.
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The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) after finding support at 136 levels and rebounding strong, found resistance at 143.1 levels. The sideways correction seems contained with the consolidation between horizontal boundaries of 136 and 143.1 levels. Uptrend is intact. Breakout from the sideways consolidation can resume the uptrend. Failure to clear 143.1 is now resulting in a range-bound price action between 136 and 143.1. A possible H&S continuation might be forming with the right shoulder in progress. H&S continuation price target is at 150.2 levels. A strong daily close above 143.1 levels will confirm the breakout.
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BTCUSD slipped below the support at 109K. Breach of 98.2K negated the H&S continuation chart pattern and as a result put the bullish interpretation in question. The broadening top price target was met with the recent sell-off. ETH outperformed BTC in the short-term and the pair is looking for continuation higher. BTC is looking for a base.
The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) after finding support at 136 levels and rebounding strong, found resistance at 143.1 levels. The sideways correction seems contained with the consolidation between horizontal boundaries of 136 and 143.1 levels. Uptrend is intact. Breakout from the sideways consolidation can resume the uptrend. Failure to clear 143.1 is now resulting in a range-bound price action between 136 and 143.1. A possible H&S continuation might be forming with the right shoulder in progress.
Read More
The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) after finding support at 136 levels and rebounding strong, found resistance at 143.1 levels. The sideways correction seems contained with the consolidation between horizontal boundaries of 136 and 143.1 levels. Uptrend is intact. The ETF is now at the short-term resistance, 143.1 levels. Breakout from the sideways consolidation can resume the uptrend. Failure to clear 143.1 can result in range-bound price action between 136 and 143.1.
Read More
BTCUSD slipped below the support at 109K. Breach of 98.2K negated the H&S continuation chart pattern and as a result put the bullish interpretation in question. The broadening top price target was met with the recent sell-off. ETH outperformed BTC in the short-term and the pair is looking for continuation higher.
