Overview
Chart #1 - U.S. Dollar (DXY) Daily
Chart #2 - Ethereum (ETHUSD) 4-Hour
Chart #3 - Bitcoin (BTCUSD) 4-Hour
Chart #4 - Solana (SOLUSDT) 3-Day
Chart #5 - Fear and Greed Index
Chart #1 - U.S. Dollar (DXY) Daily
Chartist: Sheldon
(For the chart screenshot, click here.)
The DXY is currently at both the 106.00 level of resistance and also very close to retesting the previous daily support line, which will now be acting as resistance.
I am looking for a rejection in the 106.00 β 106.50 area of resistance, giving risk-on assets a relief.
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Chart #2 - Ethereum (ETHUSD) 4-Hour
Chartist: Kyle
(For the chart screenshot, click here.)
ETH is holding the 21 ema (yellow one) whilst consolidating into a bullish pennant.
What this means is a likely trend continuation.
ETHβs next stop could be $2,300.
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Chart #3 - Bitcoin (BTCUSD) 4-Hour
Chartist: Kyle
(For the chart screenshot, click here.)
Bitcoin is also holding its 21 ema (yellow), and is coming off of low volatility.
The Stochastic RSI's have reset, which also means a trend continuation is at play.
Invalidation would be closes below the 50 ema (red).
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Chart #4 - Solana (SOLUSDT) 3-Day
Chartist: Sheldon
(For the chart screenshot, click here.)
SOL is currently extremely overbought on higher timeframes, and looking at the rest of the market, I think we are due for a correction very soon.
If the market retraces from here, the next area of support is at $48.00 - $51.00, with there even being a possibility of a deeper correction down to $36.50 - $38.00.
There are buyers eagerly waiting at lower levels for the price to retrace!
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Chart #5 - Fear and Greed Index
The Fear and Greed Index is sitting at 72 today, indicating Greed.
The highest the index has been over the past seven days is 73, and the lowest is 66.
Banterβs Take
Bitcoin is coming off a bearish divergence on the daily, but the trend overall, even on lower timeframes, continues to remain up.
The bearish divergence could just indicate a consolidation before the next move up, so itβs not necessarily a sell signal. But it is something to watch for and be aware of in the event of a greater pullback.
Stay safe my friends!
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