CRYPTOCURRENCIES – February 6, 2022
In this report I’m adding more range-trading opportunities. There are several pairs that are testing strong support areas. Those can experience rebounds. Charts are mostly on weekly scale.
In this report I’m adding more range-trading opportunities. There are several pairs that are testing strong support areas. Those can experience rebounds. Charts are mostly on weekly scale.
The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) is looking for direction around the 200-day average. The ETF recovered above 99 levels but still hasn’t settled above the 200-day average. Latest price action changed my positive view on this ETF. 99-101.2 is the new resistance. Unless we see a quick recovery above this resistance area, I will expect lower prices in the coming weeks.
The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) not only breached the 200-day average but also broke down the horizontal support at 99 levels. Latest price action changed my positive view on this ETF. 99-101.2 area becomes the resistance. Unless we see a quick recovery above this resistance area, I will expect lower prices in the coming weeks.
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 review section of the weekly report. It is featuring the text-book H&S top reversal on Netherlands AEX Index.
As Global equities came under pressure a text-book H&S top reversal can be identified on Netherlands AEX Index. 5 month-long H&S top has a neckline at 754 levels. The neckline is also overlapping with the 200-day average. I call these inflection points where a chart pattern boundary overlaps with a long-term average (200-day). They are high conviction setups for me. A breakdown of the chart pattern horizontal boundary will also push the price below the long-term average, confirming the downtrend. H&S top has a price target of 694 levels. It is important to note that there has been several cases where H&S top reversals failed. Those failures can offer tradable long opportunities. Below video explains how to take advantage of a H&S top failure.

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The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) is in an uptrend. The ETF found resistance at the minor high at 107.5. Friday’s price action breached the 200-day average but still remains above the horizontal support at 99 levels. Breakdown below 99 will change my positive view on this ETF. I will monitor ACWI ETF in the following week to see if price will quickly recover above the 200-day average and remain in trading range between 99 and 107.5. Note; price is resting above the upper boundary of the trend channel on weekly scale price chart. Breakdown can result in a lager scale correction.
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.
Tech Charts membership started including a new addition to our research offering, the special cryptocurrency report where I continue to find classical chart pattern opportunities on different cryptocurrency pairs. Below is a chart on THETAUSD from the latest special cryptocurrency report.
Descending triangle is a bearish chart pattern. Its downward sloping upper boundary gives the pattern the bearish bias. It shows sellers impatience to sell at lower levels every time price rebounds from the horizontal support. Breakdown below the horizontal support after several tests can complete the chart pattern.
THETAUSD is another pair that has possibly formed a descending triangle chart pattern. The lower boundary is well defined with several tests. The upper boundary is clearly downward sloping showing lower highs. Breakdown below 3.61 levels can target 0.92 levels. This is another pair I will play the short side if cryptocurrencies in general come under selling pressure.


By becoming a Premium Member, you’ll be able to improve your knowledge of the principles of classical charting.
With this knowledge, you can merge them with your investing system. In fact, some investors use my analyses to modify their existing style to invest more efficiently and successfully.
You will receive:
For your convenience your membership auto renews each year.
BTCUSD is trying to hold support at 41K. Failure to gain strength can result in some selling pressure in several other pairs. In this report I discussed two of my favorite, text-book descending triangle setups as well as some range-trading opportunities with bullish breakout setups.
The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) is in an uptrend. The ETF found resistance at the minor high at 107.5. Price is consolidating between the 200-day average at 101.2 and the resistance at 107.5 levels. There is no top reversal chart pattern on both daily and weekly scale price charts.

The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) is in an uptrend. The ETF found resistance at the minor high at 107.5. Price is pulling back to the 200-day average at 101 levels Strong support area remains between 99 and 101. Resistance is at 107.5. No reversal chart pattern on both daily and weekly scale price charts.
Several pairs are showing signs of outperformance against BTC. Following charts are some that can complete well-defined consolidations and offer directional movement. The first chart is against USD and one of my favorite setup. Breakout from the text-book rectangle can offer significant upside potential.

