Potential W forming as we are backtestinf the w neckline attempting to confirm as support. If we can bounce hard here then 416 is huge reistance above that 428 area. I’d be adding long postions betwen 405-407$
Heavy heavy reistNce at 455. Area. 1 hour 200 ema. Currently we are testing it. We also could be in a rising channel leading us back up to previous support as new resiatnce but that is just what I have drawn it can get back above if it can reclaim 455+
On a daily timeframe we have a 50 ema at 457 which convientlt is perfectly in line with our previous support...
So my thesis was correct Howver we didn’t correct as low as I expected. That is ok and this sets up price for a more bullish outlook. First tap of previous support as resiatnce. Pull back contiuation… spy is about to trick the market. I’m getting bullish
Last post o talked about 451 a crazy resiatnce. We finally cleared it. My YouTube video I made explained our next target which my idea was 457 based off previous support as new resistance. So far that worked out perfect now the next support that I see is $438.60. That is the previous resistance and hopefully can be flipped into new support look for a bounce there...
Obviously I was wrong with the expected resiatnce flip. We ripped to my bullish idea. 1.618. We will have long term resiatnce lone I have based off all previous resiatnce tops prior 469 this. Also 1.618 at 469 We could
Be nearin a short term pull back.
I am in no way tryin to predict a top. Calling a top is so challenging. A few thing I can say, Btc usually breaks down, 5-8’days before the markets. When Btc breakouts or reverses, it’s been before the markets. One great thing is that Btc has broken into a new all time
High. Now of course most say Btc follows the market, which ca. Be the case, however this is...
Bull flag?!?! If this is a bull flag target can take us to 468$. Old all time
High is getting creeped up on. Trade with caution. We need to break it and hold as new support. If we do, we should at least test the prevopus uptrend old support. Depending on where we hit it, could land around 457-468$. Doesn’t want to stop. Looks like it has some more room to run....
The CBOE Market Volatility index (VIX) rose for the eighth time in nine sessions, and was last up 2.8%.
SPY500 SENTIMENT IS PUSHING SPY HIGHER.
TREND FOLLOWING IS KEY..
WINNING ATTITUDE...
