CRYPTOCURRENCIES – March 19, 2023
Strong breakouts on major pairs and possible base building on several altcoins.
Strong breakouts on major pairs and possible base building on several altcoins.
The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) is looking for direction. So far price action has been volatile around the 200-day average. This week’s drop below the 200-day average and 87.8 levels negated the H&S continuation chart pattern. Clearly price action is morphing and on the daily and weekly scale price charts of ACWI ETF there is no clear chart pattern development. Short-term support stands at 83.7 levels. Recovery above the 200-day average can help the ETF test the resistance at 93.3 levels.
The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) is looking for direction. So far price action has been volatile around the 200-day average. This week’s drop below the 200-day average and 87.8 levels negated the H&S continuation chart pattern. Clearly price action is morphing and on the daily and weekly scale price charts of ACWI ETF there is no clear chart pattern development.
Every week Tech Charts Global Equity Markets report features some of the well-defined, mature classical chart patterns under a lengthy watchlist and the chart pattern breakout signals that took place during that week. Global Equity Markets report covers single stocks from developed, emerging and frontier markets, ETF’s, select commodities, cryptocurrencies and global equity indices. Below chart is from the breakout section of the weekly report. It is featuring an ascending triangle chart pattern on E-J Holdings Inc.
Major pairs are taking their time in search for direction. Long-term chart patterns take longer to form but usually are followed by steady directional movement.
The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) had a sharp recovery above 88.65-90.1 area. I see this as positive in the short-term. Global Equity benchmark is looking for direction. It will be important for the ETF to remain above the 200-day average in the coming days/weeks for the uptrend to resume.
You don’t have access to view this content
Every week Tech Charts Global Equity Markets report features some of the well-defined, mature classical chart patterns under a lengthy watchlist and the chart pattern breakout signals that took place during that week. Global Equity Markets report covers single stocks from developed, emerging and frontier markets, ETF’s, select commodities, cryptocurrencies and global equity indices. Below chart is from the watchlist section of the weekly report. It is featuring an ascending triangle chart pattern on Shell plc (Shell).
The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) failed to hold above the neckline of the possible H&S continuation chart pattern at 90.1 levels. The ETF also close below its 200-day average, though it is still not conclusive if price broke down the long-term average or not. Failure to quickly recover above 88.64-90.1 area can result in a change in trend and suggest lower prices in the coming weeks.
Several cryptocurrency pairs have rebounded from oversold levels and many more are forming possible bottom reversal chart patterns. In this update I discuss possibilities of bottom reversals in those pairs.
Read more

