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Bitcoin: Think 2021 is like 2014 & 2018? Think Again.Many bears are comparing the 2021 Bitcoin price action to that of 2014 and 2018. The BTC/SPY ratio chart suggests this time is already different. I suspect many bears will be in for a rough period ahead, and many no-coiners will be left on the sidelines as Bitcoin enters the next bull run. Two essential items to note: 1: The 30-week SMA has failed to hold the ratio down. With this week’s (pending) close, the ratio will close above the critical moving average for the third time after the “top” was put in. This close above the 30-week SMA NEVER happened in 2014 or 2018. 2: The momentum (via PPO – bottom of the chart) has failed to put in a bearish crossover as the bulls send prices higher.
BITSTAMP:BTCUSDLong
by TraceBusta
2
Glencore Plc vs Anglo American Plc (London)Late last week on the trading desk, I presented a technical chart highlighted my perspective of the monthly chart for Glencore relative to Anglo American Plc on the London Stock Exchange (LSE), with the comment as follows: The relative monthly chart for GLEN vs AAL is suggesting the potential for a long-term shift, where GLEN could outperform AAL. I've overlayed Albermarle (one of the world's biggest lithium producers) and Piedmont Lithium highlighting how the relative ratio chart could 'catch up'. Glencore's portfolio is well-positioned to benefit from the EV revolution which is in its infancy. Note the base having developed, with the price now having pushed up to a 17-month high. In addition, the 14-month RSI is attempting a 6-year downward trend line breakout. Note: For the sake of clarity, the chart presented here is without Albermarle and Pidemont. So far we have seen the relative price rebound twice off the 200-day and has advanced by +4% so far this week. Can it continue? For more insights, perspectives and real-time trade ideas, get in touch today.
LSE:GLEN
by LD_Perspectives
2
SP500 Broke 2018 Highs In Gold Price; Time For A Pullback?!Hello traders and investors! Today we want to update our SP500 against GOLD, SPX/GOLD ratio chart, which we see it now breaking 2018 highs, clearly within an extended wave 5 of III, which means that we should be now aware of a pullback that can cause limited gains on SP500, while GOLD may become supportive. Notice that GOLD is currently trading at strong 2019 trendline support, which was resistance from March 2020 COVID crysis, so in case of bounce and recovery from that projected support, bulls would be still in control. We also want to mention that SP500 can be finishing potential ending diagonal (wedge) pattern, while GOLD can be forming a big bullish triangle, now at the lower side of a range. However, more about this in our next article as the price action unfold. Be humble and trade/invest smart! If you like what we do, then please like and share our idea! Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All of our work is for educational purposes only.
SP:SPX
by ew-forecast
2
Elliott Wave Analysis: SP500 Is Nearing 2018 Highs In Gold PriceHello traders and investors! Today we will talk about stocks, specifically S&500 against GOLD (SPX/GOLD ratio chart), in which we see an interesting development we want to share. As you can see, stocks remain in the strong uptrend and there can be room for more gains, we just have to be aware of another, higher degree correction as S&P500 is approaching 2018 highs in gold price, clearly for the 5th wave. We know that after every five waves, a three-wave correction follows, so be aware of limited gains on stocks, while GOLD may find the support soon. Of course, it's a weekly chart and there's still room for slightly higher levels to break into 2018 highs, so it may take some time before we will see a change in the trend, ideally till the end of summer. Be humble and trade smart! If you like what we do, then please like and share our idea! Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All of our work is for educational purposes only.
SP:SPX
by ew-forecast
2
Chainlink Is UndervaluedI tried to be as clear as I could with the takeaway message of this ratio chart. When you get to the top of the channel (red bubble), it's typically a great time to sell LINK and buy BTC. When price gets to the bottom of the channel (green bubble), it's typically a great time to sell BTC and buy LINK. Suffice to say, I am using some of my BTC profits to scale into COINBASE:LINKUSD . Chainlink is undervalued when compared to Bitcoin. The featured content is intended to be used for informational purposes only. Everything shared here is my own opinion. It is very important to do your own analysis before making any investment based on your own personal circumstances. Please subscribe to our channel if you like what you are seeing!
Long
by jstrasburger
1