The Price trend and RSI trend shows Divergence for 3 times continuously in the row.
This is a very strong sign of price correction coming
My suggestion is not to open any new entry on any stocks for next coming days
In H1 time frame, BTC is forming the HANDLE CUP PATTERN
There is also a Divergence between Price trend and Composite Index trend
Long set up when: Price break 36,627.88 with high volume
Stop loss = when candles following close lower than 36,627.88
Take profit = 38,000
Please don’t open any entry if price cannot break this point.
Reasons of Short BTC:
1. Bitcoin is forming a possible shoulder-head –shoulder
2. Price cannot break Point of Control aka resistance area at 39501
3. Volume of Price at Resistance area is higher comparable to previous candles = signs of distribution
Entry: Short at price below 39500
Stop loss: When Price moves higher than Point of Control line with large...
There are multiple days of higher price but lower volume going on so far.
Also the situation is same with top stocks of SPY: AMZN, FB, AAPL and MSFT. Higher prices multiple days, with lower volume multiple days
Entry price: Short SPY >= 420
Stop loss: SPY > 422
Take Profit: SPY = 408 and 396 or whenever there is sign of volume improvement