HOOPFOOD

HOOPFOOD

Bitcoin, the world's leading cryptocurrency, has been on a wild ride lately. After reaching all-time highs in late 2021, it experienced a sharp correction, causing many to speculate on whether the bullish trend was over. However, recent market movements have provided some hope for Bitcoin bulls, as the cryptocurrency has broken out of a falling wedge and is now...

HOOPFOOD Updated 

Gold Prices Expected to Decline: Opportunities for Investors to Reallocate Funds After a recent rally in gold prices, some investors may have become optimistic about the potential for continued growth in the precious metal. However, technical analysis of gold price charts indicates a potential downward trend, with the possibility of gold reaching a price of $1740...

HOOPFOOD

As an investor or trader, analyzing the market and making informed decisions based on that analysis is crucial. In this article, we will delve into an analysis of the market and explore a possible trade opportunity. The market is a dynamic and ever-changing entity, constantly presenting new opportunities for investors and traders alike. At the time of writing,...

HOOPFOOD

This idea is in response to my previous idea where I called for Gold sells: The move hasn't been made yet and here's my opportunity to get in front of market. I wanted to quickly get this idea out to recognize that gold is flipping and will likely correct. After I still expect lower but for now we must wait.

HOOPFOOD Updated 

Gold has long been a symbol of wealth and a safe haven for investors seeking to protect their assets. However, recent trends in the market suggest that the price of gold is headed for a decline. As an analyst with a bearish outlook, I believe that gold is likely to drop to $1739 per ounce. My analysis is based on a number of factors. Firstly, I have plotted a...

HOOPFOOD

Gold price has been trading in a corrective pattern since the start of this year, and the recent price action suggests that it may be heading lower in the coming days. The price has broken down below the 236 Fibonacci retracement level and appears to be targeting the 382 level, which may provide strong support. However, it's important to note that nothing in the...

HOOPFOOD

Bitcoin may be showing signs of strong support by pulling out of the nose dive, falling wedge it is in.. I had a max potential low of 10k, as many did. Because of this, I’m expecting the unexpected. Could this wave simply be corrective? Is this breakout legit? No one knows. But here’s the fib scenario of if Bitcoin stayed in the parallel channel that it is in....

HOOPFOOD

Gold has since sold off after its amazing rally, retracing past the 618.. Now you can see that gold is losing steam and may be heading back to our 618 fib at 1883, I expect the dollar to squeeze a bit in the process. Using a weekly chart to show the structure here and how the fib levels show the clear psychological decisions from investors. Also, volume...

HOOPFOOD

Equities are at a pivotal point where they have bounced off a 382 retracement from the Covid low, and now is testing the 236 resistance. Currently from the top down, we are in a broadening wage pattern that could be coming to a close if bulls can get pass this resistance at 4000. We very well could reject this resistance but I did want to point out that we are...

HOOPFOOD

I see the dollar is getting ready for a move it seems as that downward channel fills at support. I expect a squeeze. Bitcoin and some other dollar inverses seem to have gaining bear vol as well.. Hope we get a move soon.

HOOPFOOD

I believe that the dollar is running out of gas after escaping a pennant which now is approaching the 272. I believe that fib traders are waiting here and we will see some kind of reaction. All fib based. Happy trading.

HOOPFOOD

I believe gold is at support as it reaches the 382 of this correction. 233 moving average fib support is also here. I believe a squeeze to the fib above is likely.

14:29

HOOPFOOD

Chartfood stream- Market thoughts// Technical Analysis

HOOPFOOD

Equities are coming into an important 382 fib support if you draw a fib retrace from the covid low. That support ranges from roughly 3700-3500 when I compare the wick to wick and the close retraces on this monthly timeframe. That support range seems, to me, the likely place to expect buyers to come in as we head into 2023. But If not, roughly 3200, where the...

HOOPFOOD

With markets still worried about money becoming more expensive to borrow, and Bitcoin's 89 moving average (fib number) floating about 13K, there is a strong possible that we could see another crash.. I am basing the 10K number off the 618 fib. You can see price trying to break support at 382 now (20-18k). Time will tell. I think buyers are getting in now and...

HOOPFOOD

The gold retrace is now complete and now bulls will try to buy back up to fibs above. trade accordingly.

HOOPFOOD

Gold has stalled and is likely going to keep retracing down to around the 1730 level... once it gets there I expect bulls to wake back up.

HOOPFOOD

Gold is starting to hint at a retrace to 1820 on the weekly.. Price seems to correcting, though... I am not convinced Bulls will pull past resistance at the moment...