Tag: aibek burabayev

Bitcoin, Ethereum, And Ripple Update

Posted on by Aibek Burabayev

Bitcoin invalidated the short-term pattern posted last month as it pulled both sides’ triggers and then returned to the current equilibrium. The other large-scale pattern is good to go.

Bitcoin, Ethereum, And Ripple Update - Bitcoin Daily Chart

I assumed that the right shoulder has been in progress with a possible spike to the upside. The price accurately followed that forecast as the price even surpassed the previous top to mirror the extreme in the left shoulder. Both shoulders peaked almost in the same area as the entire pattern aligns horizontally. Continue reading "Bitcoin, Ethereum, And Ripple Update" →

Gold & Silver: Fed Boosted The Dollar

Posted on by Aibek Burabayev

Last Thursday, the dollar rallied, reaching a two-month high versus major currencies, a day after U.S. Federal Reserve shocked markets by projecting a hike in interest rates and an earlier end to emergency bond-buying.

Daily US Dollar Chart

The price broke above the black dotted trendline resistance, which does not look like a minor correction. Instead, I think this is an extension of a large retracement of the entire move down that started in March of 2020.

The market could build the second leg of this large consolidation marked with an orange color. I highlighted the last leg with a green zigzag to the upside. The current leg up could repeat the same two-movement structure, so I built the orange zigzag. The first move within a second leg up could be over. I expect the upcoming pullback to retest the broken trendline resistance. After that, the retracement could resume and hit the top of the first leg at 93.4. Continue reading "Gold & Silver: Fed Boosted The Dollar" →

Dollar Struggles, Gold Consolidates; Oil To Triple Digits?

Posted on by Aibek Burabayev

The U.S. dollar index (DXY) finally entered the anticipated corrective phase as I called for it last month.

US Dollar Index

The confirmation came with the breakup of a gray resistance. The structure is not as sharp as I expected as the price is still below the Fibonacci retracement zone. All spikes are still around the initial breakout peak, around 90.5. Continue reading "Dollar Struggles, Gold Consolidates; Oil To Triple Digits?" →

Silver Favor Bulls; Bitcoin To Zero?

Posted on by Aibek Burabayev

Let us start with the positive news; I spotted a hopeful sign in the silver chart. In my earlier update last month, I anticipated a correction to come in the dollar, gold, and silver charts.

Daily Silver Chart

The cleanest retracement among the assets mentioned above appeared in the silver chart as it met minimum requirements. Silver’s price broke below gray support, and the correction almost hit the 38.2% Fibonacci retracement level. It consists of two distinct legs down marked with red numbers. Continue reading "Silver Favor Bulls; Bitcoin To Zero?" →

Dollar, Gold, And Silver Update

Posted on by Aibek Burabayev

The U.S. dollar index (DXY) did not make a significant pullback despite my expectations posted earlier this month. The minor bounce was short-lived as the price quickly reversed all gains and updated the low after that.

Dollar, Gold, Silver Update: Daily US Dollar Chart

The downtrend is so strong that DXY could fit within a very narrow orange channel. However, I think we still need a visible correction to come, as new signals are alarming. Continue reading "Dollar, Gold, And Silver Update" →