Reguardless of the world's current events, you better believe that stocks can rally to new highs & continue climbing. Reguardless how many people die, businesses fail, or governments collapse, this can happen. 1. The real people/companies/funds who have the money to keep in financial markets play their own game & are not about to let it fall apart. 2. The richest...
See my previous analysis where I entered short. I'm taking a small loss in this pair & switching to a long position, expecting my projection to the upside to play out. Too much buying strength is coming in here at a critical support level.
Short set up on the continuation of this bearish diagonal wedge pattern. I've notated what a reversal to the upside would look like, in which case, my stop loss will be hit.
See my previous 3 posts about the 1 Hour Long entry I took. This chart is an update, based on the Daily timeframe profit targets. The #cryptocurrency could easily reach $13,000 in the next week or so, as strong buying momentum has continued outside of the descending wedge (pullback). I am also long #Gold, #SPY (US500 #Forex), & Oil (usdwti)
Quick update on my previous Bitcoin entry LONG. Things to consider: 1. Diagonal trend breaks (Descending wedge patterns) are generally the most predictable & strongest breakout patterns. Not that I'm a "pattern" trader, its just that charts with lots of liquidity have generally predictable behavior. 2. The 1st projected target was hit & there hasn't been a...
The 1st profit target for my previous post has been hit. This is a great place to take partial profits, if you entered that trade with me. If BTC is to continue higher to the next targets (noted in purple), price will need to hold above the GREEN line I've marked. This is a diagonal channel breakout, however, it does NOT guarantee a continuation back to the...
Similar picture as the BTCUSD chart I posted earlier, except on the Weekly timeframe. A long entry here is an even greater probability for a large move to the upside over the next month. A strong close outside of this downward channel by the end of the week will be a bullish signal.
Nice hold of this most recent pullback on the 1 hr bitcoin chart. A long entry here should see btcusd rise for at least the remainder of the week.
My analysis of SPY weakness. I've marked short-term support & resistance, as the SPY, DOW, & other US indicies are retesting the latest crash. I would not be calling this a bear market yet, although I did enter a SHORT position on Friday. In the most recent crashes we've had, we've always managed to double bottom on the retest of a crash & then move on to make...
Looks like USDCHF is rolling over to the downside. 3 bearish candle stick patterns have presented themselves, signaling a loss of upward momentum. Profit targets are the most recent low & then a retest near the all time low.
USDCHF found heavy resistance at the highs near the 0.097650 area. If we fail the retest, I will exit or stop-out the remainder of my long position, in anticipation of a reversal signal. A short entry would have an the expected target as a retest of the lows near 0.096100.
Buy signals valid, as long as we hold above these diagonal channels.
Updated chart analysis of BTCUSD Daily chart.
Chill on BTC for now, unless you're just trying to scalp the next week or 2. BTCUSD is entering a major resistance zone. From a long-term perspective, I'd be awaiting at least a 50% retracement & even safer, a retest of the most recent low, before adding to a buy position.
The pair is retesting a previous channel resistance. The MACD is showing bearish divergence, signaling the pair is ready to reverse, with intentions to retest the low. Profit target #1 would be the most recent low. #2 would be the next recent low. If price is to fall all the way back to the 2020 lows, the move should take a few months. Estimated exit date: July
Anytime, at this point, would be good to buy gold; as it's on a run. Expected target, 1900-2100 by next year. Gold is still performing amid the global shut down.
Here is a possible road map for BTC to fall below $3000 or make new highs by 2021.
BTC is retesting a major supply zone. Would not be a buyer in this area just yet. I'm bearish short term.