The Silver market seems poised for a breakdown. This analysis explains why the demand below $71 has been taken and the weekly phase seems likely to fail and correct for some weeks and prices should move towards the low $60s and likely lower as the asset moves deeper into the high time frame phase and this coupled with the dollar strength is giving investors an important warning.
The cryptocurrency market (and indeed all risk markets) are entering a period where a pivot is due, but also a period where a spike in implied volatility is also due. There’s a lot of work for bulls to do on this chart. Post Views: 18
“On the ltf BTC‘s conditions have somewhat improvedand we would anticipate this given the move into the ltf pivot. The forecast for sometime in this market has been another consolidation period which could test range highs (around $76-$80k) and that is due to the amount of time this market needs to consume in this phase….
Bitcoin trades in extreme conditions as again it fails early in phase and flashes a warning that more downside price action is likely. It is reasonable to see this asset trade towards $52,000 – $43,000 into the next ideal phased trough. Post Views: 18
MicroStrategy is setting up for a move to range low and BTC is very likely in a period where a correction to $107,00 or even $102,000 is possible. $110,000 a key level to defend for bulls as this contracts heads into the corrective phase of the cycle. Post Views: 37
This was last week’s text update for theBTC market: “The very ltf the patterns are bullish telling us that conditions have indeed changed and a move into the mid 80ks can set up after a period of consolidation”. BTC tapped into the 80ks and it has dropped into the ltf pivot into the technical confluence…
BTC has entered a phase where a correction is likely and indeed this began on the 14th July (earlier than ETH). This is significant data as ETH is a lot stronger. There has further been a weakening in money flow whereby a ltf pivot failed and it would not be unreasonable to see the contract…