BTCUSD cleared the horizontal resistance at 73.7K to new all-time highs. Clear breakout signal from the broadening pattern on weekly scale. Price rebounded from long-term average. Previous resistance at 73.7K continues to act as support. Breach of 91.2K puts the price back inside the consolidation range 91.2K-109K. Price targets 109K.
The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) completed the consolidation as a double top with the latest breakdown below 115 levels. Double top price target was quickly met at 107.2 levels. The correction extended beyond the price objective. Rebound following news effect regarding Tariffs helped the ETF to fill the gap. The 200-day average becomes the new support. I will monitor the ETF to see if it will stabilize above the long-term average in preparation of resuming higher. One thing is clear the sharp rebound from the lows is due for a short breather. The breather if it forms a higher low above the long-term average in the form of a tight consolidation will increase the conviction on bullish setup, a possible H&S pattern. For now 120 levels acts as resistance.
The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) completed the consolidation as a double top with the latest breakdown below 115 levels. Double top price target was quickly met at 107.2 levels. The correction extended beyond the price objective. Rebound following news effect regarding Tariffs helped the ETF to fill the gap. With this week’s strength the ETF recovered above the 115-116 resistance area. The 200-day average becomes the new support. I will monitor the ETF to see if it will stabilize above the long-term average in preparation of resuming higher. One think is clear the sharp rebound from the lows is due for a short breather.
Meeting Outline
Tech Charts Members,
This is our second Breakout Room meeting to discuss chart of your interest. I will share my screen and will pull up chart of your request and review patterns and opportunities from the perspective of classical charting principles. Transcription available as well.
Meeting Outline
Tech Charts Members,
This is our second Breakout Room meeting to discuss chart of your interest. I will share my screen and will pull up chart of your request and review patterns and opportunities from the perspective of classical charting principles. The first meeting was a success and we got the chance to review so much. I hope this time as well we will cover as many charts and questions as possible.
BTCUSD cleared the horizontal resistance at 73.7K to new all-time highs. Clear breakout signal from the broadening pattern on weekly scale. Price rebounded from long-term average. Previous resistance at 73.7K continues to act as support. Breach of 91.2K puts the price back inside the consolidation range 91.2K-109K.
The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) completed the consolidation as a double top with the latest breakdown below 115 levels. Double top price target was quickly met at 107.2 levels. The correction extended beyond the price objective. Rebound following news effect regarding Tariffs helped the ETF to fill the gap. 115-116 area is the resistance. The ETF is now at its 200-day average. Only after a sharp recovery above the 200-day average we can start thinking about the bullish possibilities. ETF stalling around resistance area can form the right shoulder of a possible long-term H&S top.
The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) completed the consolidation as a double top with the latest breakdown below 115 levels. Double top price target was quickly met at 107.2 levels. The correction extended beyond the price objective. Rebound following news effect regarding Tariffs helped the ETF to fill the gap. 115-116.11 area will act as resistance. Further weakness can extend the correction towards 93.3 levels. It is important to note that the ETF is below its 200-day average. Only after a sharp recovery above the 200-day average we can start thinking about the bullish possibilities. ETF stalling around resistance area can form the right shoulder of a possible long-term H&S top.
BTCUSD cleared the horizontal resistance at 73.7K to new all-time highs. Clear breakout signal from the broadening pattern on weekly scale. Price is consolidating earlier gains. Previous resistance at 73.7K becomes the new support. Previous support at 91.2K is the new resistance. So far price held above the year-long average.
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The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) completed the consolidation as a double top with the latest breakdown below 115 levels. Double top price target was quickly met at 107.2 levels. The correction extended beyond the price objective. Rebound following news effect regarding Tariffs helped the ETF to fill the gap. 115-116.3 area will act as resistance. Further weakness can extend the correction towards 93.3 levels. It is important to note that the ETF is below its 200-day average.
