Bitcoin is the cause of market misery
In such situations, we should not rush and it is better to wait for the market convulsions to sleep and then enter the position. Because we may see an unexpected reaction that is not predictable
The daily chart shows that price is at the 21 EMA
which is likely to act as support.
And on the hourly chart, price is coming to test
a support level around 335. Today, just printed
two low volume sell bars near that the 335 support
A good entry price would be between 335-336. I would
place my stop at 332.60 and my profit target at 342. I think
Today's bar was a bullish bar and went above the high of yesterday's
low volume bar. April 27 and April 28 were low volume days
When price continues to put in new highs despite
these low volume days it is a good indication price is headed higher.
4250 and 4300 are the next targets for the S&P.
I do not advocate buying into the highs so entering on...
This evening price finally broke through the low of 51,300
after being in a squeeze to the downside. That squeeze can
be better seen on an hourly chart. Click link for pic of that.
The past few days including today were bearish bars but
"normal" volume bars. The buyers are not stepping back in
yet. They have tried to...
Buyers are really trying to push price higher but are
struggling to push through the 59,500-60,000 level.
On the daily chart, April 3rd and April 4th were low volume
sell bars (yellow bars on chart). Price then broke above the high of the
April 4th low volume selling bar which was an indication that
sellers still do not have control. Price hit resistance and is...
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