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.
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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. 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.
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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.
The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) found support at 136 levels and rebounded. Back to back daily gains show that buyers are impatient to wait for lower levels. The correction seems contained with the consolidation boundaries being defined between 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.
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The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) found support at 136 levels and rebounded. Back to back daily gains show that buyers are impatient to wait for lower levels, i.e. the test of the 200-day average. The correction seems contained with the consolidation boundaries being defined between 136 and 143.1 levels. Uptrend is intact and the next short-term resistance is at 143.1 levels.
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The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) broke down the channel (a close below 139.3) and this is now resulting in a reversion to the mean. Lower boundary of the channel at 139.3 tuns into resistance. 136 levels act as short-term support. Breakdown below 136 levels can resume the correction towards the 200-day average at 130 levels.
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