FibnFork

FibnFork

I will preface this by assuming the current correction is over The moves higher and subsequent declines off the bottoms set on the 6th February and 1st April have had some obvious similarities. Both moved 5 waves higher, with an impulsive 1st wave off the bottom and a truncated exhausted 5th wave at key resistance resulting in a double top. The abc corrections...

FibnFork

How long will the spx trade within the confines of this triangle? Near-term range is narrowing between the topside slope and the 100DMA & also the RSI "range" is narrowing in a triangle. Topside break would likely see a retest of the double top @~2790, and a break of the 100DMA to the downside would likely see another test of the 200DMA. Next week with GDP Q2...

FibnFork

Make or break time for bitcoin. Key multi-year median pitchfork formation & 61.8% retrace off entire range. Also a retest of former trend line.

FibnFork

Coming into a good pivot in price, 61.8% retrace off recent climb & 50% off retrace of wave 1 climb.

FibnFork

"False" break below the pitchfork formation, an exhaustive downside move, with bearish RSI, should have a short-term low in place around ~$7.9k. The medium-term pitchfork off the recent highs will need to broken @~$8600, before a test of the long-term top slope in the triangle can be tested @~$9400

FibnFork

Wave 2 in place?

FibnFork

Between the triangles and the 50 & 200 DMA, the short/medium term range is narrowing

FibnFork

Another rebound off the 200dma, sets the SPX into a range between the 100&200dma, and also between 2 trend lines. CPI data tomorrow will determine whether we break to the upside, or push lower for another retest of that key 200dma support. Also good to note that the ~60 RSI level has not been broken on any bounce off the 200dma.

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After Trump pulled the US out of the JCPOA, oil ripped higher to test the 100% extension off the 2016 low -> Jan 2017 high. Will subsequent fallout from Trumps decision push oil through this resistance and into the key area of ~$76. Up there we have the 61.8% retrace off June 2014 -> Feb 2016 fall, and it has been a key pivot in price from all the way back in...

FibnFork

Level here on the upper slope of this pitchfork, the 161.8% extension off feb lows -> march highs -> march lows, and the May 2015 low. Break through this level and dxy will target a key level in the median pitchfork line, 38.2% retrace of 2017 highs -> 2018 lows & a key pivot in price from mid/late 2017. Reversal would target the 200DMA & median line of shorter...

FibnFork

Massive volume spike upon hitting 100DMA & trend line off April lows. Now testing the 38.2% retrace off all time highs (previous support)

FibnFork

Usually do not post non log charts, but this pitchfork has been very clear. Well defined channel between the median slope and 50% slope. 200DMA still capping bull advances, but the dips off these highs are becoming weaker as buy the dip mentality sets in

FibnFork Updated 

Big retest of median pitchfork line, 200DMA, 61.8% fib retrace off feb/march highs -> april lows & the 50% fib retrace of entire range. Safe to say a huge level for the bitcoin bulls

FibnFork

Big week for dxy with personal income coming on Monday, Interest rate decision on Wednesday and NFPs on Friday. Will the break of range made during most of 2018 be reversed immediately following a test of the 200DMA, or will data give the dxy much needed impetus to mount a recovery.

FibnFork

A brief respite to the tremendous April rally as bitcoin stalls at the first test of the 200DMA. And in the short-term, a wedge is forming between the top end of the 200DMA, 61.8% retrace of march->april decline and 50% fib of entire range. The lower end is the median pitchfork line, and previous resistance fibs turned support. RSI has held around the 45 mark has...

FibnFork

The median line of this pitchfork has been pivoting price movements since its inception. Current dip in price has found support yet again at this level alongside the 38.2% retrace off april lows -> april highs. A continuation higher off this level targets the previous april high (38.2% retrace of feb->april decline, 50% pitchfork slope) with the 100DMA higher at ~$95

FibnFork

After breaking the Long standing pitchfork from the december highs, a new pitchfork formation has taken shape and proven to pivot price. Near term highs in place at a key area with the 200DMA, 61.8% retrace off feb -> april decline, and 50% fib retrace off entire range. A dip should find support either at 61.8% retrace off 17th -> 25th climb & 38.2% retrace off...

FibnFork

The 100% climb this month has seen ethereum break it's long-term pitchfork formation and the 200DMA (for a brief period). A slight dip recently has brought it back to it's 200 day moving average and a retest of the broken pitchfork. A more sustained dip would target the 50% retrace of the entire climb higher + the prev 15th april high + median line of new...