/BRR (Bitcoin futures) recently made two successful backtests of the downtrend line on the 60-minute time frame that was taken out on May 29th.
BRR 60m June 6th
Pardon the crude annotations on the chart above as I’m working off my laptop en route to my son’s college orientation without my usual screen-capture software. I’ll be traveling all day today & returning late Wednesday so updates will be light until then.
As of now, nothing has changed in my near-term outlook for the stock market, precious metals & Euro, Bitcoin, & cocoa (bullish/long) as while still bearish on crude oil, nat gas, & the energy stocks (oil & gas as well as coal) although nat gas, in particular, has been defying the bearish technicals recently so probably best to only initiate or add to shorts on weakness & breaks of support (not strength) at this point.