- Selloff to start the trading day - Potential reversal forming around $52.43 with a very suspicious wick below - Low trading volume = Only $337k and counting
- GBTC has been actively traded before the spot Bitcoin ETF approval - GBTC opened slightly higher today with much more trading volume - High trading volume = $36.8 million, much higher than the average $7.3 million trading volume over the past 30 days - GBTC is currently at a strong resistance target, which is concerning that the ETF approved as the price is...
- The white resistance zone has been flipped into support - There is very strong resistance in the red resistance zone ($46,270 to $48,264) - The light blue trendline is my strongest resistance target around $49.1k - There has been a brief pump up to the light blue trendline and a strong rejection down that resulted in a long wick back down - Bitcoin is currently...
Chinese stocks have been hurting from China's deflationary economic environment, as well as the Biden administration's restrictive measures for AI chips to China. I believe these factors have caused Chinese stocks to become extremely undervalued. BABA is currently within my buy zone and is starting to show some bullishness. The price is near the lows of the...
TSLA had a strong rejection at the yellow resistance line, and has been dropping straight down several support levels over the past few weeks. The $240 orange support line was immediately lost, and TSLA just lost support at the $207.50 green support line. There is a lot of pessimistic news surrounding the sustainability of EVs, and TSLA had a poor earnings report...
The S&P 500 been gradually breaking downwards since peaking in July. AMEX:SPY has reached the bottom of this red parallel channel last week. This is a key support level that has been providing strong support, and I think SPY bulls need to defend this price level this week. The RSI is oversold so the conditions are good for a rebound here.
Commodities and Bitcoin experienced significant increases in value around October 7, which is the date that the Israel-Hamas War started. Commodities and Bitcoin experienced significant increases in value around October 7, which is the date that the Israel-Hamas War started. SLV had a bullish bounce off the yellow trend line on Friday October 6 (marked by the...
Commodities and Bitcoin experienced significant increases in value around October 7, which is the date that the Israel-Hamas War started. Commodities and Bitcoin experienced significant increases in value around October 7, which is the date that the Israel-Hamas War started. GOLD had a bullish bounce off the light blue trend line at $1,808 on Friday October 6...
Factors Affecting Price: Bitcoin has historically been bullish in the month of October with green monthly candles for 8 out of the 10 last years in the month of October (80% probability). October of 2023 has also been extremely bullish with a lot of hype surrounding the Bitcoin ETF. However, commodities such as GOLD and Silver (SLV) also had significant spikes...
In my previous update I discussed that SP:SPX has lost a key support level in the orange support zone. SP:SPX was sitting under resistance as investors waited for Friday jobs data. The strong jobs data led to a spike back up and SP:SPX has successfully regained support at this orange zone again. My current price target for SP:SPX is the yellow resistance...
In my previous update I emphasized that this yellow sell zone is a very strong resistance level for SQQQ. There was a lot of uncertainty surrounding the Friday jobs data, but the data came in very strong and almost double expectations. This led to a bullish rally for TVC:NDQ and SP:SPX that led to steep bleeding for SQQQ. I predicted that SQQQ will drop below...
NYSE:PLTR has been extremely bullish since Sept. 25 and has been in a strong uptrend after breaching the orange resistance level. The next key price target, the light blue resistance line, is rapidly approaching. PLTR is a war stock that is benefitting from the new Israel Palestine conflict. Other key events this week are September PPI inflation data and Fed...
BTC has been very bullish since late September and early October, but has reached strong resistance at $28k. The orange trendline is a key price target where BTC bulls and bears are struggling to gain control over this price level. The trendline acted as support for a few hours before ultimately breaking below, and is currently acting as short-term resistance. For...
AMD has been showing a lot of bullishness since September 26. However, AMD has reached the upper range of the white channel and is due for a correction this week. I have the yellow trend line as a key support level and my first price target. I think there will be a solid bounce off this yellow support line in the short term.
NVAX has started distributing millions of COVID-19 vaccine shots. However, NVAX is trending back down towards the buy zone. I think that this will present a great second chance buy opportunity after NVAX's recent rally to $8. The markets have been affected by the new Israel Palestine conflict. Other key events this week are September PPI inflation data and Fed...
The TVC:US10Y has been extremely bullish since May 2023, and has gained more strength after the Fed's hawkish announcement that led to a "higher for longer" interest rate environment. The TVC:US10Y has broke through numerous resistance levels to reach its 16-year high. From a technical analysis perspective, the TVC:US10Y has a tendency to have strong bullish...
Yesterday I discussed $28k being a resistance target on this move up, and today BTC had a strong rejection at this price level. I think BTC is currently forming a dead cat bounce, and I see the price trending down lower. I see the light blue trend line as a price target, but there will likely be bounces at the white support zone before dropping lower.
NEWS Rivian Automotive Inc's made the decision to issue $1.5 billion worth of convertible green bonds.Here's a breakdown of what's happening: Share Price Drop: Rivian's stock price plummeted by over 20% on the day of the announcement. It's the most significant daily percentage decline for the company's shares since May of the previous year. Convertible Green...