The Nasdaq remains a clear risk off situation.
1. New lows continue to expand
2. AD-line remains under the longer-term moving average
3. Price is looking to break below the lower channel support again.
Last Saturday, I said that 10,000 for BTCUSD shouldn't be the focus, but instead to focus on the slower trailing stop 8,200 just in case Bitcoin took a breather. Well, BTC has continued to climb and has now put in a cluster of orange crosses over the last several days.
These orange crosses are designed to highlight when a stock, crypto, oil or any other trading...
BTC crossed 10,000 and everyone goes wild, but that shouldn't change your process and how you approach each trade.
Bitcoin's main trend changed in early January and from there began to build a constructive pattern that created several entry opportunities. In late March and early May, BTC gave solid entry opportunities. If you set your initial stops correctly,...
XRP went to a short-term sell when it closed below the 2.70 area on the 45 minute chart. Initial support levels are around 2.15. If it moves through 2.15 then 1.95 comes into play and finally the 1.77 area. If XRP moves through 1.77 then watch for daily support near 1.66. Just a reminder that on the longer daily timeframe that XRP still has a ways to go to...
On the 15 minute chart BTC made a nice move from the 13,500 area before the trend changed near 15,000. It's bounced around since then and closed below the main trend line again. BTC might need a little time to round out a pattern here before offering a new entry. The main trend support is near 14,630.
$XRP has been on an impressive run since mid-December and has now moved from around .25 to 2.60. The alert markers have been going off for the last few days which can mark near term tops. For now it looks like moving the trailing stop to around 1.65 to 1.67 would be a good idea.
$ICHR and many others in the $SMH field were heavily sold this morning, but most have bounced back to stay near highs. Based on the alert indicator( orange triangles), a large portion of these stocks $UCTT, $ICHR, $AMAT, etc. need time to consolidate the most recent run.