FibnFork

FibnFork

Another brief pop above this well established pitchfork formation was briefly reversed amid the Trump $ remarks, but previous swing high made in May & 61.8% retrace off 2017 decline provided support for the week. 4 hour chart

FibnFork

After last weeks breakout from the long term trend line starting in 2015, Trumps comments on the Feds potential hikes & currency manipulation in China and the EU, have prevented any follow through and we're now trading back at the trend line. the 61.8% retrace off the 2016-2018 decline & the 50% retrace off the larger 2015-2016 decline held up as strong...

FibnFork

After the break of the long-term uptrend on april, downside momentum has been capped by the 61.8% retrace & median line and with Trumps remarks on the fed & aversion to multiple rate hikes will the down trend of 2018 be temporarily paused or be reversed? 4 hour chart

FibnFork

Another week straddling the long-term trend line off the 09 lows & the 61.8% retrace off the 2015-2017 climb will Trumps currency wars statements (Fed shouldn't tighten, hurts US economy) finally push the kiwi off it's lows. Key upside barrier is still the previous support of ~0.687 4 hour look

FibnFork Updated 

After the strong reversal off $75 downside acceleration could be capped by the 100dma & previous key swing high (50% retrace off 2014-2016 collapse). A break through this level puts target on ~$65 level which is the median line of long-term pitchfork, key slope over the 2017-2018 climb & 200DMA in close vicinity. Short-term look, potential pullback to $69.38...

FibnFork

Finally a move from the range set in early june between $6800 and $5800 with bitcoin squeezing shorts for a nice run up above $7000. Currently sat on the 38.2% retrace off May-June move lower & the outside day bar set in May which when broken to the downside accelerated losses. Just above @$7607 we have the 100DMA & the previous key trend line set off the...

FibnFork Updated 

Having failed to break above ~$6700 since the drop below that level back on June 12th, bitcoin is coming back to test that area. It's the 38.2% slope of the pitchfork & 50% fib retrace off the final push lower from 7th June -> 24th June. Break through this level and a re-test of the long-term median line will be the target. Another fail will push us back to...

FibnFork

A push off the lower slope in the long term pitchfork has near term targets of previous high @~$500. Break above that level will put the yearly average back in focus. A break below the slope & then previous low @~$360 would signal capitulation. RSI currently sitting on resistance.

FibnFork

Purple bars are when the price is >20% above the 200DMA. Along with both the slopes, looking like a potential pull-back is coming

FibnFork

Another strong reaction off this key trend line (in place since 2015) and a very bullish daily candle. Short term bullish invalidation would be a break below this level ~1.15. Targets are ~1.169 & ~1.18

FibnFork

After the break of the long-term pitchfork, the drop failed to accelerate as other key supports were just below. The re-test of the previous trend line & median line of shorter term pitchfork provided good support. So now we're in a narrow range between these 2 points. A break back above the longer term median sets eyes back on the yearly average @ ~$7600. Break...

FibnFork

%ATR at very low levels, technical pattern narrowing, breakout imminent. Between the long-term median line, top slope of wedge, 200DMA & the lower slope of the wedge the downside definitely has less technical resistance

FibnFork

As gold -2.28% dips below its 52 week moving average again, it moves in on the key slope on this long-term pitchfork . Pink trend line has also held on the 2 previous dips below the moving average.

FibnFork Updated 

Look at the pitchfork where median line has been pretty good at catching recent bottoms. Red spot is the place to break for upside, with recent low/61.8% extension the place to break for downside momentum

FibnFork Updated 

Another re-test of previous slope & 75% pitchfork line which has held as key support on previous occasions

FibnFork Updated 

Rectangle (neckline) is the area to break to the upside. ~1.17 is the area to hold on the downside

FibnFork

Median line retested after clean 5 wave down. 5th wave exhaustion (rsi divergence).

FibnFork Updated 

Huge week in terms of economic data for the SPX. Inflation data on tuesday & FOMC decision + press conf + economic outlook on wednesday. The break of the trend line back on the opening of June accelerated gains to a retest of highs set back in March. This is the key area to break. 76.4% retrace, 38.2% pitchfork slope