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AlanSantana
Jan 19, 2022 3:40 PM

NASDAQ Bearish Scenario Can Unfold Short

E-mini Nasdaq-100 FuturesCME

Description

Here we have the NASDAQ (NQ1!) chart showing some bearish potential.

Last week prices closed below EMA10 and EMA21, when this happened in the past we had a strong correction.

We have the MACD trending down after a bearish cross.

We also have bearish Divergence with the MACD since August 2020:


The RSI is also trending lower as has broken below 50 weekly.

We have bearish divergence since Jan. 2020:


We see lower highs on the indicators (RSI and MACD) while we are getting higher highs on the NQ1!.

We have two main targets mapped on the chart.

Conditions for change
This analysis is invalidated if there is a weekly close above EMA10 or 15769.5 on the NQ1!.

Thank you for reading.

Namaste.

Trade active

First target hit.
More to come. We continue RED.

Trade closed: target reached

Both targets hit.
Comments
alenotr43
short Nasdaq long BTC your ideas not supporting each other according to that correlation.
piotrpawliszyn
@alenotr43, Exactly, that's what i was thinking. Why do you think it won't impact BTC?
maroff
@piotrpawliszyn, Alan is pissed, because I told him he has no clue. He is constantly posting bullish Ideas on cryptos and BTC in order to get money moved from stocks to cryptos. He is not posting what he is really thinking, rather than what he wants have (wishful thinking).
cLyeL
@piotrpawliszyn, you misunderstood @alenotr43
he is saying the opposite
everyone knows investors treat crypto as tech stock
nasdaq is tech stock, therefore nasdaq bearish means crypto bearish, usually that is the case
louistran_016
judging from the correlation between BTC and QQQ (and DXY) i just don't see a scenario in which Nasdaq is breaking down and Bitcoin going up
if one thing bounces the other is likely to move in sympathy
leonlizc
Good to hear from you again
maroff
Alan Santana, the magic troll is back. Constantly trying to signal bearish trends on stocks and bullish posts an crypto. Only a fool thinks evil about this. Nice to have this clown back
kimstandgraph
Nicely done
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