Traditional Makets & Forex
Where do we start? There are so many indications that any pullbacks or price drops in the markets will hold support and have high probabilities to rebound into a higher high then the previous month of March.
Let's take a dive in to the US Dollar; the DXY. Most of the air was cleared about interest rates mid-march...with the Fed releasing statements that rates need to stay as is, and will not be lowered anytime soon. Instead, they will take different approaches to boost economy for the Dollar. Different approaches lead the dollar to hold its value trading sideways, or to drop. I will explain how, based on predicted job openings (releasing Tuesday April 4), the job index is projected to be lower, and that will not help the value of the dollar. Unemployment's rates (releasing Friday April 7), could be higher than projected, and cause a drop. Let's say...you add something like international economic changes to off-load the US dollar, like the previous week China off-boarded the dollar treaty with smaller countries, to continue which have been implied mid-March- isn't helping the strength of the Dollar. The DXY is holding this area of support, so even if the resilience holds, this area/this week trading sideways will only inject the markets off the dollar into traditional stocks/crypto/indices. Into the following week, Wednesday APRIL 12, the core CPI will likely be projected to come out higher...but in reality this likely will calculate to be lower. Right after, on Thursday April 13, the PPI (producer price index) is likely to bring strength down & unemployment claims have been steady increasing, and are projected to rise. On Friday April 14, core retail sales will be released and could only add more fuel to the dropping of the US dollar. Now let's examine the charts, showing where the Dollar breaks below will hit a momentous price action dump.
The DXY Weekly chart has multi-week support about to break down! The SharpScope signal has triggered a sell, and with all the conditions aforementioned...any hair of bad news will bring the value of the dollar index down to about 96-97. This drop could take the majority of the month of April by having a weekly bleed, or happen quickly within about 2 weeks, soon after showing a rebound recovery for the US dollar...gaining strength for May to make a macro-high, high above 114.
AUS/JPY & USD/JPY weekly are also showing very similar signs, like the DXY. Currently, the AUS/JPY is in the channel, but it can indicate instability with a fall-off this trading channel that it has made for the past 2 years.
EUR/USD - GBP/USD - AUS/USD
All look alike to the DOW JONES, indicating pumps, just like the S&P 500 weekly chart; also shown below.
DOW JONES Weekly Signal incoming
S&P 500 Weekly signal incoming
BITCOIN
BTC has a perfect set-up to not dump, and has weekly support of this current range...this only means to expect upwards momentum for this week into the next. The unfavorable aspects, which are many, are already in the charts indicated by the high delta; and probability for a dump is due soon. Other unfavorable factors are the Coinbase issues to delist some assets, the US government holding BTC and planning to sell quarterly in estimated amounts of a quarter billion BTC/quarterly from the Silk Road seize recovery. Even with all the unfavorables, BTC dominance appears to show signs for a test of lower support...while Alts pump. Yet, the total crypto market is in a high-monthly open, which could slowly reach the support to have a quick reversal into a higher total crypto market-cap macro high. This really shows me that the 31k-34k resistance targets of Bitcoin are very reachable and highly likely. Also, for Astro-traders: there is a full moon April 6, which triggers buying opportunities, along with up-trending pumps, in tandem with other favorable astrological positive financial factors for April 2023.
The BTC Daily Chart shows strong demand in this continued uptrend since beginning of the year, holding and moving up from here with no signs of breaking lower. Thus, a better probability of buying the support below 28k. Although, as 31k to 34k is reached, the crypto sector, especially bitcoin, would likely be the first indicator of all markets reversing into a downtrend again.
ATL Coins
Coins I have on my radar with weekly signals are:
LTC Litecoin/ ADA Cardano / XMR Monero / XLM Stellar
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