TraderFromTheNorth

TraderFromTheNorth

The Dollar (DXY) had a big rally from July until October and then a correction back down to the VWAP (volume-weighted average price) moving average line. It is currently above and looking like it will make it's next leg up as we close the year.

TraderFromTheNorth

The S&P 500 has been rallying for over a month now. This rally was not unforeseen. The market had fallen very deep and a correction was overdue. However, we are currently approaching the 200-Day Moving Average and a key Resistance Zone. This is likely where we will start to see things slow down and likely where this rally ends. If buyers hold up, then it is likely...

TraderFromTheNorth Updated 

S&P 500 has been selling off but looks like it has finally settled into a Support Range (11470 - 12400). I believe this is the lowest it will fall during this move and then we will get a bounce from this area. We may see it sit here for the rest of the week, bouncing up and down. This may even last for a couple of weeks. However, when it finally breaks out of this...

TraderFromTheNorth

Nasdaq has sold off and has fallen a little deeper than my last post. However, it looks like it may have settled down into a Support Range (11470 - 12400). I believe this is the lowest it will fall during this move and then we will get a bounce from this area. We may see it sit here for the rest of the week, bouncing up and down. This may even last for a couple of...

TraderFromTheNorth Updated 

Nasdaq (5/2/22): After the announcements of the expected 500 basis-points rate hike from the FED last week, there was a mass sell-off in the markets. However, we're now getting Bullish Divergence on the RSI. This means that we are losing strength from the sselling pressure. We are likely to bottom out soon, maybe today or in the next couple of days. Crypto: For...

TraderFromTheNorth Updated 

Bitcoin looks like it it has bottomed out around the 38,600 level. It has been trending up in a tight range since January of this year. If it continues trending up, watch for another rally over the next couple of days/weeks up to the 48,000 - 50,000 range. From there, will see what happens. If it continues in this tight range, we will see it fall back down...

TraderFromTheNorth

Bitcoin (BTC) Update 4/6/22 🔴 Bearish 🔴 Bitcoin has been trending down since last November in 2021. It is currently rejecting hard off of the top of the trend channel. From the current look, it will likely fall back to the 37,400 - 39,800 range. From there, we may get a bounce back up. However, if there is not enough buying power... it may fall further and test...

TraderFromTheNorth

The S&P 500 has Bullish Divergence on the RSI. We should see it head back up to the 4400 - 4450 area over the next couple of days. The threat of a flash sell-off is always looming, so precautions have to be taken when trading against the trend (currently down). However, if we do not get anything random in the markets, then the SP 500 should make it's way up to...

TraderFromTheNorth

Bitcoin is currently at a very important Decision Area (44,000). How it handles this level will be very telling of what is likely to come in the near future. This is a prior Support turned Resistance. If we can stay above it, I see a good chance that we get to a new All Time High. If it struggles here and stays in a range, however... we will likely see a much...

TraderFromTheNorth

Since the Covid crash, the Stock Market has been on an unstoppable steep upwards trajectory. This carried out through 2020 and the whole 2021. I've never seen the Stock Market climb this high and this short amount of time. With the current state of the economy with rising inflation, food & supply shortages, spending cuts and coming interest rate hikes... I do not...

TraderFromTheNorth

Possible Bottom on Nasdaq? Looks likely... at least for now. Huge wick at the Support on the Daily Candle.

TraderFromTheNorth

This is the first area of Support / Test for Nasdaq. If it holds here ( 14,358 ) ... this could have just been a healthy correction. If it breaks below here, market conditions will have to be reanalyzed. So far, it has not broken trend overall yet.

TraderFromTheNorth

Nasdaq has been selling off. Is this an economic collapse? Too early to say. Nasdaq has been flying high since the Coronavirus crash back in March of 2020. It's been long overdue for a steeper correction. I was shocked that it was able to keep climbing without a steeper correction in all of 2021. Nasdaq was overbought for the WHOLE year. So as long as the Nasdaq...

TraderFromTheNorth

I posted this chart previously but just updating this since we had a drop in Bitcoin in the past hour. It only fell back into the current Support Zone around 40,000. Until it breaks below this area, I'm not too concerned. If it does, then we will cross that bridge and discuss possible changes in crypto market conditions. As long as it continues to hold at this KEY...

TraderFromTheNorth

I've been observing some correlation between Bitcoin and Nasdaq. It seems that every time Nasdaq starts to sell off a bit, Bitcoin does as well. Could Nasdaq serve as a possible indicator for Bitcoin? Something to continue to monitor.

TraderFromTheNorth

The Crypto Total Market Cap is in almost an identical situation that it was last summer. It fell down to a Key Support Level and the RSI was oversold at that time. It is currently in the same situation and the new Key Support Level. Previously, the Crypto Market Cap was holding steady around 1.2T. Currently, it's holding steady around 2T. If it can continue to...

TraderFromTheNorth

Bitcoin is at a KEY area at a KEY LEVEL. This 41,000 area was a previous Resistance turned Support. This also coincides with the Trend Line on the bottom if we follow the lows. Bitcoin held here strong all weekend and also throughout today. If it can continue to hold, we are likely to turn back around here and head up. If it breaks below this point... hit depends...

TraderFromTheNorth

Sandbox has fallen all the way down to this great value area. This is what I call "The Dip".