We lost the support at 44k last night and saw a pretty sharp breakdown and is now acting as resistance on the smaller time frames.
Expecting a continuation move down to the area of interest around 38-40k before seeing another attempt and trying to change market structure.
IMO the market is still bearish and any bullish rally we have is a short term recovery.......
USDWTI H4 - Monster RR on this one if we can find resistance on the support zone we have just broken... WTI is more impulsive than confirmative, so often very fast moves are seen without 2 stage or multiple retests. 618 to 786 ties in nicely with corrective fibs from week open down to current price (resistance retest point).
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By running a Stochastic through Inphase-Quadrature frequency transform and smoothing it with ZLSMA (Zero Lag Least Squares Moving Average) we can get a good picture of the current position of Bitcoin. It appears BTC has nearly finished consolidating its low point and should be bouncing up in to a bull trend. The chart above and below is using macZLSMA from...
So BTC has been performing very well and remained strong last week despite stock market downside. Currently BTC invalidated dead cat bounce theory and the higher probability is now running to ATHs. So far the price range is a bit extended, it would be ideal scenario to wait for the dip into 50-45k with invalidation close below 45k for better risk reward scenario....
The season has begun - seems like corn has bottomed, broken the downward correction, and is now beginning to overcome the different MAs.
According to the seasonality, we should see the high in corn around June-July next year. I expect therefore at least the reaching of the former high at 3.15 EUR.
But you should of course take a deeper look at the underlying...
Let's keep this simple. SPY on the four hour chart. One more day of consolidation will complete the right shoulder. Lower then average volume, to many bad bad super bad catalyst to not have this play out. Evergrande, debt ceiling, over leveraged banks, and hedge funds, housing bubble, inflation, fed tapering. Don't kid yourself.
PAF released their annual report today.
Yearly earnings up 63% , now PER is at about 4. This is incredible !!!
Insiders (CEO and financial executive) bought a lot of shares recently
Dividend will increase 28.5% (vote in November)
Stock buy-back announced (to be precised later)
Awaiting a lot of infrastructure developments and prospection results...
MATICUSDTPERP is showing a Head and Shoulders Pattern, which is a variation of an M formation. What I want to see to feel safe, is price drop during the next daily candle. It would be a complete fail is MATIC price exceeds the price of the current top of the Right Shoulder.
I will personally take a short because I can see different confluences in the chart that...
BINANCE:DOTUSDTPERP is showing a Head and Shoulders Pattern, which is a variation of an M formation. What I want to see to feel safe, is price drop during the next daily candle. It would be a complete fail is DOT price exceeds the price of the current top of the Right Shoulder.
I will personally take a short because I can see different confluences in the chart...
Bullish Pennant 🟢 Target Price: $0.035-$0.04, Leverage: x2.5
Who are we?
We're a small group of Artificial Intelligence (AI) researchers primarily from Russia.
We developed an AI ("OXY AI bot") for detecting technical analysis patterns on multi-timeframe charts.
Our bot recognized a Bullish Pennant on this chart and so, we open a long position:
ALT COINS ARE CURRENTLY LEADING THE MARKET
Most Alt-coins have already broken the 0.236 support on Fibonacci retracement, this means it will have an effect on the Ethereum and Bitcoin prices.
By the end of today Ethereum should be below 2450, and bitcoin will go to 36000 if it breaks 37545.
Ethereum just broke out of it's ascending channel, It retested it and now it's holding a support level, i personally have shorted it but don't believe this is a good entry point if it breaks below 2460 i recommend shorting to 2385 for approximately 3% gain.
BITFINEX:BTCUSD is coming off its rally now on the denial from Amazon NASDAQ:AMZN that it will not accept Bitcoin. Prior to this the run up has been labeled a "short squeeze" as that term has become all the rage in 2021. It did in fact qualify as one seeing as how over 60% of leveraged short positions have cleared out in the bullish move.
From a contrarian...
All-in BTC Short 🔻 TP: $31 700, x10
🔴 KEY POINTS:
- RSI is strongly overbought
- Momentum hit RSI Resistance
- Price Action hit Channel Resistance
- Machine Learning (Artificial Intelligence, Linear Regression ) says upcoming Resistance
- Chart Pattern: This Technical Indicator Variation worked 100% in the past
We've opened a second BTC short. This time...