- Too many too strong resistances withing a down trend of the green symmetrical triangle.
- Most of the resistance is between the SMA200 and MA200.
- We test the red Ichimoku on 4h= another strong resistance.
- We are below the red Ichimoku of daily = another strong resistance.
* Closing daily below 10k = bearish...
- We don't have enough volume buying power to...
Merry Christmas Traders!
We find SPY near the termination of a minor fifth subwave v of Intermediate wave (3), which in turn is part of a larger primary wave One. Primary Wave One should terminate near SPY ETF price 219 on/about 31 Dec 18, after a 28-day decline from 3 Dec wave origin.
Chart describes constituent components of Primary Wave One, including a...
quick a nice overview if the current situation of S&P500!
Bulls feel the pain? Yep.. it was painfull for those who are long. BUT - That was nothing! :-O
Check this chart and see where the real PAIN is waiting for us.. or the PROFIT?
AS we can see - there is still a lot of space downwards before we reach the real paniczone! ;-)
So calm down...
As we can see, BTC seems to be in a symmetrical triangle. According to the hidden bullish divergence we see, as well as the decreasing volume, I conclude that this symmetrical triangle is going to exit downwards instead of upwards.
For a more detailed and long-term analysis, feel free to check out my related idea (Wyckoff Accumulation Scenario -...