Bearish $SPX #ES_F roadmap to watch for if we continue to drop.
DONE Initial test of 200wma
DONE Bear market rally to lower high at resistance
Break of 200wma
Trendline bounce @ $2300
Backtest of 200wma
Panic sells to major support @ $1500-1600
1. Log-macd crossing over
2. RSI showing a rounded bottom
3. Bollinger bands historically tight (6th time being this low in history)
4. Solid 8-9 month base
5. Approaching long-term bull trendline
Expecting $7400 and beyond in the coming weeks.
Well, things look pretty bullish:
We broke the inverse H&S line
We broke the steepest downtrend line
We broke daily 200EMA
Daily MACD crossed up (a few days ago)
Daily MACD has formed a long term bullish divergence since December
RSI broke up (a few days ago)
Target 12400 (1D cloud, low volume node, horizontal resistance /...
The pattern for the last year has been to break into a steeper bull channel every few months. Using fib extensions, and looking at the previous runs, I'm anticipating a target of 32.5k-35k before Bitcoin has another major dip/correction.