ETH still up quite a bit, has a lot more downside to give. I think we see some more pain before the effects of EIP-1559 take hold. Would be an aggressive buyer around $1300-1400.
Fundamentals strong, stock already 30% off the highs and nearing previous resistance. Assuming bull market intact, can add in some LEAP calls for a very favorable R:R in terms of tech. Overall I am short-biased for tech (think its overvalued), but BABA has a good TA trade setup.
Declining volume, bearish divergence. Need to wait for signal to print on the weekly. Is this a wide consolidation range before we start another leg higher, or is this an exhaustion phase near the macro top? A lot of tech still overbought across the board on very high time frames and showing signs of exhaustion e.g. AAPL, AMZN, etc.
Market Overview BTC experienced a violent selloff in May due to a cascade of liquidations, forcing sellers to push BTC down to $30k. Since then, it has been ranging between low 30ks and 40k. It seems like the crowd is more or less split, half calling that the bull market is still intact and half saying that we are in a bear market. My view is that we are in a...
BTC has shown quite some strength defending the $34k-$35k region. I believe the bullish divergence in the 1D timeframe for BTC is putting in some work. The large green candle put in on June 9th, 2021 could be signs of a mid-term reversal and into a relief bounce to target the $45k region. Bulls who have been waiting for a sign may have taken these past 2 days for...
Looking at the daily chart, BTC is printing a massive bear flag. In the past few weeks, sentiments have turned bearish again following the steep $1.2k drop from $7.4k. Traders in long positions were enjoying the slow gains and expected BTC to touch where the downward trend line and 200 MA met at around $7.8k. However, no one expected BTC to plow through supports...