Overall I'm super bullish on Avalanche, but to properly retest S/R level it needs TIME. Huge outside weekly candle is just a volatility, not a proper retest. Once stops are taken, we will absolutely rip.
Invalidation: Close above current ATH and continuation of parabola.
$FTT may need to come down to $50 to grab some liquidity since 3 drive wedge is completed. Once we clear small range just above midrange we may test prior ATH and then very fast to OB. Those trending gap candles in context must be filled before continuation.
FTX token is going to lead the uponly market for the second half of 2021:
- Inside (reversal) candle on monthly chart
- Bounced off 0.705 Fib level (retest completed)
- Inverted head and shoulders pattern in play
- Measured move to take FTT to double top ($60) and then to $120 by end of year
Invalidation: close below previous swing low
Local bottom for Cannabis Index ($MSOS)
Reasons for longs:
- Head and Shoulders pattern, obvious
- Rejection off of 0.5 Fib Level
- Chuvashov's fork in play
- Volume picking up
- Daily gap closed within a day
- Hedge against possible forming S&P correction
Invalidation: close below Year Open
Seems like everyone forgot about Litecoin. The second important after the king (BTC), a heavyweight and oldest and most respected coin in crypto space. If it does what it does, then we should be by 2K near the end of bull cycle.
Fair winds $LTC, you deserve it.
First US cannabis ETF is gapping down, both longs and shorts are fair and reasonable.
- Bottom of channel will be retested soon and may bounce.
- Gap shall be closed and may bounce.
- Once year open retested it may bounce.
- I'm not watching news so I have no clue what they say on CNBC.
- Formation of H&S pattern, therefore measured move...
I don't want to interfere with your $DOGE party and cocktails and all, but I'll throw some sats at the "This time is different" level in case Dogecoin decides to shit the bed (as part of normal DOGE cycle)
INVALIDATION: straight to the moon^^^
$MSOS recently went parabolic with all the hype. Correction is possible for following reasons:
- Sitting at the top of the channel with inverted hammer and bib bearish trending candle
- Open gap/inefficiency in 40's
- Too far from EMA
- Volume is dropping
Possible correction to the bottom of the channel
Invalidation: Clean break/close above last high/channel's top
Well, cannabis stocks went through very rough couple years. They all were in accumulation mode for good part of 2019 and entire 2020. Accumulation is done and ready for take-off. Here is why:
- Few month ago we made new Higher High with possible Higher Low as of now.
- The reasoning behind Higher Low is a consolidation in the area of Fib levels 0.705 and 0.618.
Every move in asset requires news. People need to justify every change in price.
This time for one of my favorite fundamentally built Dogecoin was TicTac craze.
In reality, after a loooooooong accumulation this amazing shitcoin is ready to rip. Just that. No protocol updates. No platform expenditure. Nothing. Simple supply and demand. More people use DOGE -...
$ES is breaking out of symmetrical triangle.
We need to close above tested base to clear path to 3500.
Low of 3005 have been taken out. Making HH's and HL's.
Target: previous highs
Invalidation: fake-out, shitting the bed and close below Weekly Open.
$ES $MES $SPY $SPX
Bullish Case of $ES_F #ES_F $MES $SPX
Bulls are not done yet. Here is why:
- Brocken demand base retested
- Daily/Weekly Open retested
- Clean break thru Monthly open, looking for retest
Invalidation: close below Weekly Open.
We may shit the bed below Monthly open for more liquidity.
Russian Ruble price action is getting on bullish side:
- Falling wedge reversal in play
- Deviation / fake-out below Range Lows to hunt stops
- Consolidation in progress between Fib Levels 0.7 and 0.61
- Major news events. Russian Federal Reserve lowered interest rates. Cash and carry strategy used by foreign investors become less profitable. Money pulled from...