1st time $IWM is above relative 200 day MA (SPY) in 1 yr Great setup using previous high as stop; 15:1 risk reward (aggressive) for end of year bounce
I thought this recent move might be it, but it's not climactic enough. So continue being short but expect a retrace. Based on long term fib level which is holding well, it'll either go down to around 320 from here, or retrace and then go back down to 320-ish. Hoping for the retrace from here, to offload at 390 to 415. Reversion to the mean.
Pullback from the Daily and 4hr supply zones (teal and orange boxes).
Mean reversion Reason: Only possible scenario which can conjectured.. Chance of success: 65% Entry & Risk management : to be updated Target: highlighted on chart
RSI is on the long term support since its been in an uptrend and price is right on the 50. Stop loss could be based on RSI breakdown and retest that puts the uptrend in doubt.
Just looking back at a stock for a hindsight view on picking the best buy and sell times. Note the OBV matches very well with the RSI, the short term trend reversal is confirmed with RSI bearish divergence and the retest of on the OBV downtrend line.
RSI bearish divergence. Looking for a pullback back to the gap after the FOMO dies off and gives back.
I love fractals. Here we have a micro bull flag embedded within a med. term flag embedded within a greater macro flag, wow. I called the recent btc price jump to 10k on my first video. I am calling this move to 11k. Price reverts to the mean and the mean is up not down - relatively speaking. Don't believe me, just watch. These times are only estimates: Target...
This looks like a nice technical setup for mean reversion coming straight out of an overreaction. The volume by price range shows the 3 clear points with a lot of price memory. Most holders that haven't sold will feel they are owed money and be looking to relieve the tension of the loss at those points.
Price reversed from channel support and broke out of ascending trendline and resistance level. Price has made a pullback and retests the broken levels that lined up with moving averages. Considering that price has broken out of the counter trendline, the price has the potential to move higher towards the resistance zone from near the current level. Thanks for reading!
Back from Hols - Back to Trading - Back to Profit..!!! Weekly (W) Chart, Post Earnings showing good Pullback towards Mid BB%. W RSI is <10. Looking for S/R around the 52 level. Looking for Reversal to mean back higher. Aiming for 52.50 /50 Put Credit Spread with 55 Calls for directional Bias higher. Exp SEPT - As this is weekly Chart, looking to leave time to...
It's very uncommon for BTC to not revert to the mean and at least reset the RSI to the 50 level before continuing its trend upwards, this is a 3 day chart so be aware what I am showing could take a while to play out but its very probable.
At the end of a major long term resistance / falling wedge / bull flag Possible return to the mean of the downtrend channel Could easily POP, set you sell order to catch it! =)
Today I want to look at the bigger picture to put in context the recent Bitcoin move. In the weekly chart, we see that the bias is bearish. The lows at 3100 fail to qualify as a THE BOTTOM by any sort of crypto standard: a) Lack of volume b) Lack of strong bounce c) Lack of institutional blueprint d) NVT still optimistic Now, I want to look it from the...