USOIL most likely will continue to go lower here. The last low still stands, but overall the picture looks like it wants to test some lower prices. Oil has been a good indicator for recession, as lower demands correlated to drop in production and consumption. Still good to keep an eye on and see where it stands in 2025.
https://www.tradingview.com/x/XI8rlLQO

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For the bulls, tap support LOW support, kick back above this deeper channel back to above that trend channel to continue accelerated trend (as this is more a reversion to the mean / cooldown atm).

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Not pretty composite candles, but I hope you get the picture.

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BTCUSD - Log-scale Channels

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BTCUSD is turning bearish on weekly, the Moving Average Convergence Divergence (MACD) indicator has not been showing any sign that selling pressure is weakening and price is losing support at the moment. The RSI is also still below the SMA14 and was unable to break up reclaiming strength and bullishness.

I have used white solid lines for the closing prices and thinner white lines for the highs and lows. Looks like 51,000 is going to be reached rather quick (if not today). However, since the trend will really hit the market it would not be unlikely to see it push the recent lows line near 45-46K.

If you are clueless, I suggest to wait for a weekly MACD cross to re-enter, price can range and expand for some time until the long-term trend settles down and volatility ceases.

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https://forum.autonomi.community/t/update-05-september-2024/40307?u=dimitar

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USOIL 6M chart, looking bearish long-term, clear bearish divergence on RSI and MACD. Now going below the dotted line again.
https://www.tradingview.com/x/HF76YQAO

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manhwa_ocean_updates

August 16, 2024, 18:31

Into the Light, Once Again
[Chapter 96] Updated - Read Here

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