Big gap down on a heavy volume trading day. With everything that has gone wrong over the last year, it's a wonder that the Indexes have been reaching new highs so blisteringly fast. A decisive breakdown here could spell a multi-week downtrend for equities. It's looking like a good short.
BTC is currently making a large-scale double top. The formation is just a more drawn-out and massive version of what happened in 2017. Crypto and most equities as a whole are looking at a multi-week pullback here as some big news looks to be the catalyst for a larger scale meltdown.
The central banks cannot prop up the economy forever. At some point, the natural...
Moving below the short term ascending wedge. Looking like it will touch base back at 30k. Looking more bearish in the short term again. Many altcoins also showing signs of fatigue ( BITFINEX:DOGEUSD COINBASE:MATICUSD to name a few)
Still looking bullish after a retest of the initial resistance in the cup and handle formation. Trending up strongly still and giving no indication of a reversal yet. Long while it is still trending up.
Looking very promising on a long here. the technicals look great. This could have safe haven potential if inflation starts running higher (10%+). This and property/land/real estate would be the two main holdings going into a strong inflationary period. Keep an eye out for nice REIT opportunities as well. (looking at you NYSE:IIPR )
In a bear market, you take the escalator down, and the elevator back up. Thats exactly what were seeing here. Long drawn out downtrend with very fast run ups lik ethis is tell tale of a bear market. Id be looking to short between 0.90 and 1.00$ with a stop loss around 1.10
Currently, Bitcoin is setting up for a cliff dive. The downtrend has lasted for several weeks now and it now seems more than ever that it will continue. Keeping a close eye on the potential breakout zone. Anything is possible here but the current most likely scenario would be a move back to the 20-25k region.
A lot of cryptocurrencies are lining up to make...
Most likely outcome would follow the red arrow down more or less. Unless there is a strong push back into the consolidation region followed by a breakout (shown by green arrow), the next potential short-term target is 0.90$
After the breakdown, we can observe a classic retest of the previous support line. The most likely scenario a see playing out is #1. The chance for a continuation after such a decisive breakdown are good.
Scenario 2 could still play out if bulls manage to reclaim the 0.30-0.32 region.
Palladium is doing a very similar pattern to the asset bubble for palladium going into 2021. Palladium prices are extremely lofty right now and today's price action confirms it.
I've been long on palladium for a long time (see below) but its feeling like a ripe time to close