$NFLX just rejected resistance in the $300 for the second time and has fallen back below. It looks like price has formed a rising wedge of sorts and upon a breakout fo the structure, would see a breakdown to the $250 range.
However, I don't think that will be the low as price has never tested that $250 support. I think it's likely that we'll break that support...
Unless price can break resistance here, we're just seeing another lower high. This sets up $TLT for one more move lower.
I think price is likely to retrace from here and take out the recent lows-- then we should see price bottom in the $88 range.
Let's see how it plays out from here.
$AMC looks like it's headed for another low. I could see the potential for AMC to rally up to the $8.30ish region, but if price rejects that range or just falls here, it increases the likelihood that AMC will fall from here back to the $2 range.
The bottom of the blue channel structure has already been tested multiple times and has weakened support. If it breaks...
$SHOP just formed another lower high which you can clearly see looking at the chart from the daily timeframe. I think we're about to see one more drop from here which bottoms around $17-20.
After it reaches that range, I think that will be the setup for a longer term bounce.
I know everyone wants to be bullish energy, and I agree with the thesis over the long term, but the shorter term looks ugly.
XLE looks like it's topped out here and wants to fall back to the $70 range, or below back to $60 (as this region has never been tested as support on the way up).
I'd be a seller here and not a buyer. I do think a drop to $60 or so is a...
As I wrote in my last chart , $15.8k would be the first target to the downside. It was just hit. Now I want to update the chart with the current thoughts being new price action has played out and the chart is becoming more clear.
It looks like today's pivot might've been a short term bottom. Now that sets up a new trading range.
I think we'll likely trade...
Alright, as many of you've seen, I've updated my previous chart in the comments and have become short term bullish. I do think that BTC heads higher in the next few weeks tagging the $23.5k mark or $25k mark. I was originally thinking that this would make the short term bottom of this move down, but now I'm questioning that thesis and I think that this is the more...
So far the selloff has been pretty orderly the entire year and trying to play volatility hasn't worked. I think that's about to change.
$VXX has been consolidating in these two channels and looks like it's about to explode higher. If we can see $VXX get above $21 or so, I think we're about to see a huge move in $VXX. Similar to what we saw in March 2020.
Similar to my analysis on BTC, I think we're in for a large bull trap here.
In the very immediate term, I could see the S&P retracing down to support at $3686 or so before making a higher low, and then moving higher.
Largely, I think the targets on the upside to look for over the next 2-3 weeks are $3931 and $4039. That's where I'd start getting cautious...
We get one bounce in the middle of a move down and everyone immediately turns bullish. This chart still looks ugly to me. If you look at the chart, we've only seen 4/5 waves down. I think we're about to see the last leg down that breaks the lows from yesterday.
If the math is correct, $8.55 is the level to bid.
BTC looks to be topping soon, on a break of 1/1 which I think is likely in April. To help judge important levels to the downside, I created this chart with a Gann Fan and important levels of support/resistance.
If we break the 2/1 level after the 1/1 level, then the 8/1 level is in play. Those will be important levels to watch in the coming months.
AMP looks to be forming a bottom. Upon zooming out, you can see that we just broke a downtrend and we're starting to form a base that can take $AMP higher.
I've marked off key resistances to the upside. Let's see how hight it can go.
$ASM looks to be forming a bottoming structure. I created this blue trendline as I think this will be the resistance that needs to break in order for the upside targets of $.08 and $.13 to be in play.
That said, I think in the near term there are two possible scenarios that I'm looking at, ASM:
1. Pumps straight to the $.052-.058 range
2. Retests the $.03...
A lot of alts are seeing exit pumps and I think the ones that have been coiled the longest will run the furthest. GRT looks like it retested the lows yesterday and is now ready to run.
I could see GRT doing a 3x from here. First level it would need to break is $.16, then $.20, and if it makes it over those two levels, I think $.32 is likely.
Let's see what...
Fet looks like it's about to make a big run. It's been in accumulation for 6 month and looks like it's about to break out. Once it can break the bottom resistance at $.09, I think there could be a quick move to $.13 and if that breaks, there's a lot of room for price to move upwards.
I ultimately think the move will take us somewhere to the $.22-.24 range before...
$RLY looks like it's finally time to move.
As you can see from the chart, $RLYUSD finally broke out of it's downward trendline and looks poised to move higher. Once rally breaks $.02, I see a quick move to $.03 and if we can hold above the $.03 resistance, then I see continuation to $.05 where I think the end of this move would take place.
A chance at 3x upside...
Mir has been consolidating in an accumulation pattern since May. I think it's coiling up for a big move.
Upon a break of the $.21 region, we could see a surge higher. If price is able to break the midpoint at $.35, we can see continuation all the way up to $.57-60.
A 2x to 3x move from these levels.
I'm in from $.17. Let's see if it plays out.
$RLY went a lot lower than most people thought was possible (including myself). I've been waiting patiently and watching for some indications that this could be bottoming and it looks like we finally just got some signals.
The big signal that stands out to me is the 2D buy volume being the highest on the chart right at the bottom. That gave me the confidence to...