Are Ethereum Supports Cracking?
· ETH broke below the blue trendline, but bounced off the yellow support.
· Needs to break below it and below the pink line to confirm a reversal.
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Bitcoin H&S Pattern?
- As I showed on Sunday, the 4th wave may have completed, and cycles are also expected to roll over.
- The 30 min chart shows a potential head & shoulders pattern, and BTC is testing the neckline.
- To confirm H&S, it needs to drop convincingly below the neckline.
- The potential H&S projection should be below 70k.
10-Year Yield and Crude Oil Are Moving Together
Although they aren't always correlated, 10Y yield and crude oil have been fairly correlated lately.
Since 10Y yields cycle (see my earlier posts) and the Elliott wave pattern points higher, will oil follow?
Watch this correlation; correlations come and go (see the bottom panel)