With the devaluation of currencies globally and negative interest rates plaguing over 25% of sovereign government interest rates, Gold has come back in favor breaking their resistance of $129.00. Broad indexes are at all time highs and fear of devaluing currencies will create a run for a "store of value" trade which can also be perpetuated by a "fear trade" where...
Looking back historically at previous corrections throughout the broad market indices. We are looking at a W pattern with Bollinger bands. You can see the previous corrections from Gov't shutdown in 2011, Oil rout of 2015-2016, and now as I call the "Great Rotation". Earnings were going to be the grand escalator to take out new high's in the S&P. ...
I made this trendline pattern in November 2017 when one of my clients wanted to buy T and we bought and I advised on the trade to sell in late January when T touched the top of the trend line. Once again, T has given a golden opportunity for a 4% to 6% run between the current level to the top of the trend line. A 6% div that pays you to wait on the trade form is...
Trendline support shows two previous retracements back to ascending trendline. MACD and RSI showing weakness at this level.
4H chart Multiple Tops with ETH over the past 2 weeks.
ETH between $333 to $342 around 12/17 to 12/21
Happy Trading!
Sorry to offend the hardcore decentralized crypto-traders but, the capitalist pig in me wonders if GBTC is worth the added premium? One share of GBTC represents 0.09196847 BTC ($1005.21 at current spot price). Current Price of GBTC at this time is $1665. (a 65.67% premium to BTC). This chart showing the BTC return and GBTC returns from 08/20/2017. BTC is up...
Drawing a trendline support on ETH since April the ETH chart shows twice a pattern of correction that takes about 15 to 30 days to from Peak to trough. Also using Trend Based Fib Extension tool to back test to previous corrections. I am looking at a correction of ETH down to $337 to $345 by Christmas holiday.
