Since the major breakout in November of last year, Tesla has been trading in a downward trend. Now we're on the verge of a possible bullish breakout. The price has been forming a triangle structure since the start of this year. As seen in the chart, TSLA has managed to break two resistance levels of the triangle pattern. We even see a re-test of the breakout on...
Volatility has remained low the past two months. Even with the recent pullback after the Fed meeting, the index has managed to recover relatively quickly. Now we're back up against a key resistance again. So far we've failed to break above this resistance level. This leads to the possibility of a pullback to test the bottom level of the trend. On the other hand,...
Since its all-time high in May, Link has dropped by as much as 72%. Price seemed to be forming a bottom at 15. Where we saw two tests at this level in May and June. So far we have failed to break lower. This leads to the possibility that a bottom may be forming for Link. However, it is still too early to say. Therefore, I would like to see the price consolidate...
Despite the inflation narrative gaining strength in the past few months, the price of silver has been trading in a narrow range since August of last year. In other words, silver has been trading sideways for almost a year! Nevertheless, silver has been trading in an ascending trend since last year. We continue to make high lows, which is a bullish indication....
Another rough weekend for BTC as selling pressure returned on Friday. Nevertheless, we're currently trading at critical support levels. There are two main scenarios I see right now. The first one is price will continue to trade in this narrow range between 43,000 and 28,000 for weeks to come. The second scenario is a breakout to the downside, which could see us go...
Gold saw a sharp sell-off last week due to comments made by Powell of interest hikes that may come sooner than expected. Since early June, gold is now down almost 8% in just this month. Nevertheless, price is holding some key technical levels. I still remain bullish on gold given the current environment of high inflation. The key levels to look out for are 1750 and 1675.
It's been a rough week so far for the crypto market. In just two days, ADA fell by as much as 30%! This sell-off has pushed the price all the way down to test the major support level of the channel trend. This major support level also coincides with the 200 MA. In which price almost touched it before a quick recovery back into the trend. For this reason, there...
Ethereum has broken down below the critical support level as indicated by the green line. Price has the rest of the day to recover above this level. If the price fails to close above the critical support level, that would look very bearish. I would expect further downside in this scenario.
Bitcoin has seen some bullish price action in the past two days. From the technical analysis perspective, this recent move isn't a buy signal. Why? Well, we're still consolidating below the 200 moving average. Therefore, I would like to see the price consolidate above this level at around 43k to start considering the possibility of a recovery. This leads us to...
Once again we came down to test the major support level indicated in the green line. This is the third attempt to break below this support level! Although we've held this level everything single time so far, I'm wondering how long can the buyers hold this line before they give into the bears.
Here are the two potential scenrios I think could play out in the coming months. The first scenrio assumes that the bottom is in, and we'll slowly be on our way to recovery. The second scenrio assumes another breakout to the downside to test the last cycle's all-time high at 20,000. Let me know what you guys think! Which scnerio do you think will play out?
As S&P500 and global indices near an all-time high, the Chinese indexes are lagging. Nonetheless, price has managed to recover from its low in May. Now price is pulling back to test the 17750 level. The current pullback resembles a bullish flag.
There are two main scenarios that could play out here. The blue line is the 200 Moving Average.
LINK has been selling-off since last week. Price sell more than 34% since it's peak in May 10th. Now price is testing the critical support level of the channel trend.
S&P500 has seen a quick recovery after last week's sharp sell-off. We're currently facing some resistance right now. Will the bullish momentum continue?
Bitcoin is down 8% after Elon Musk's tweet implies Tesla may have sold all Bitcoin. BTC is now testing its major support! Let's see if it holds.
As long as BTC holds the 20 week SMA, The flag formation will hold! If BTC recovers back above 55,000 it could be very bullish for BCH. Look for a potential breakout on Bitcoin Cash if BTC starts rising again.
DOT is currently selling off after hitting a new all-time high of just under 50. For those who missed out on accumulating DOT, 42 & 38 are good levels to enter if price continues to sell-off.