Tesla is putting in bearish divergence on most time frames and I am waiting for confirmation on the daily, a daily close below 628 will confirm. The previous major swing high lines up with the 0.618 fib and will also line up with the weekly 21 ema when price gets down there. Short-Mid term down with a potential longer term entry after this pull back (if we get...
Whichever way this break should be a very good trade, around $9.50 to the downside and around $17 to the upside. Pay attention to my Bitcoin analysis because Link will likely follow.
Ok maybe not that low but it definitely looks like it wants more down. The blue box would be my entry / risk management area and the horizontal lines are support / profit taking areas.
-Secure the bag!
Well Crypto is looking great right now with a very strong weekly close on Daddy Bitcoin! That being said I would expect some kind of pullback sometime soon, but I would not be surprised if we see a new high first, and potentially a decent rally into the Election! Lower blue box is my first area of interest and the upper blue box would be my first...
Bitcoin is looking great right now! So if you have missed this past rally or were skeptical before, here is MY area of interest. Im looking for a pullback and for Bitcoin to start using the 12k range as a long term base. But be prepared for lots of fuckery in this region, lots of wicks so wait for closes and rejection before even considering a long term...
Currently waiting to see how price reacts to this area, Im expecting a rejection and more down but don't trade what you think is going to happen. Wait for the technicals to give you an entry
Currently retesting the break down area, so this is a very easy area to manage risk. The horizontal lines on my chart are areas that should act as support and potential reversal areas (take profits) Patience!! Let price action reveal itself and show you the way, react.... DONT predict!
Tesla gapped up today out of a symmetrical triangle on the daily, for this formation to be valid I would like to see a strong close today and a retest of the upper triangle trend line. The measured move would be the upper blue box on the chart.
Just kidding, atleast for now. Still in a down trend, and even tho the $700 bounce was nice it had pretty weak volume. I would say its likely to retest the lows and I will re evaluate when we get some more price action. A 4 hour close above 10,850 area will change my shorter term outlook.