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Bitcoin Looking Interesting
Bitcoin printed its lowest point on day 21, which was early to expect a DCL to form. Bitcoin has since been consolidating below the 50 day MA, forming a triangle consolidation pattern — until this morning. Bitcoin is in the process of breaking above the declining trend line this morning. Sometimes the cycle low will migrate to the apex of the consolidation pattern. Bitcoin is still in a daily…
Consolidation
The dollar formed a swing high on Tuesday, closing below the 10 day MA. The dollar went on to close below the 50 day MA on Wednesday — however the dollar did not deliver any bearish follow through. Instead, the dollar rallied on Thursday and Friday. The dollar closed back above the 50 day MA – turning the 10 day MA higher. It appears that the dollar has started to form a triangle…
Bitcoin Early Morning Update - No Bearish Follow Through
Bitcoin broke bearishly below the lower stem of the triangle consolidation on the 2 hour chart on Tuesday. There was no bearish follow through. Instead that reversed and Bitcoin went on to reclaim the 200 MA. Bitcoin is in the process of testing the 50 MA.
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Nvidia
Nvidia tested the upper stem of its triangle consolidation pattern on Thursday. Nvidia is currently in a daily uptrend. A bullish break out of consolidation will indicate a continuation of its daily uptrend and signal a cycle band buy signal.
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Bitcoin Begins Bullish Breakout
BTC had been in a triangle consolidation for the past 2 weeks — until Tuesday. BTC is in the process of breaking out bullishly from its triangle consolidation on. Tuesday. Often the cycle low can migrate to the apex of the triangle during the consolidation. BTC is currently in a daily uptrend. Breaking bullishly out of the triangle consolidation indicates a continuation of its daily uptrend and…
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Miner Consolidation
The Miners have been forming a triangle consolidation, which is obscuring our daily cycle counts. A break below the day 38 low of 32.20 would extend the daily cycle decline. However, the Miners are currently in a daily uptrend. A bullish break out of consolidation would indicate a continuation of its daily uptrend and signal a cycle band buy signal – which would affirm day 38 as the DCL making…
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Bitcoin Breakout
BTC is in the process of breaking bullishly out of its triangle consolidation. BTC is currently in a daily uptrend. A close above the upper stem will indicate a continuation of its daily uptrend and signal a cycle band buy signal.
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Bitcoin Breakout Watch
BTC in the process of forming a triangle consolidation, which is causing our daily cycle count to be uncertain. Tuesday was either day 43 for the daily cycle or day 16 of a new daily cycle. What is clear is that BTC is currently in a daily uptrend. A bullish break out of consolidation will indicate a continuation of its daily uptrend and signal a cycle band buy signal — in which we would then…
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