Zoom has benefited greatly from stay-at-home ordinances. Considering that the SPX and major indexes have been very bullish today at news of a possibility of a vaccine, Zoom is not reacting with major movements one way or another. This news of a vaccine however is most likely nothing more than hype and excitement, so I'm tempted to switch my short to long if Zoom...
The top posts on Tradingview are mostly written by clowns.
Why? They're mostly using elliot waves on a market that has historically been proven to defy elliot wave logic.
The proper use of an Elliot wave is like a conclusion to an essay, not your thesis statement. Instead of using this complex trading tool, just use a trend line and wait for breakouts/rejections...
11-12k major resistance.
Any Longs from 4k are aiming fibonacci retracement (1.6) at 12-13k.
Stop loss set at 9,600 per BTC.
I am not trading this. My spot trades were placed months ago. Any buy under 10k is good moving forward.
Potential to switch to bearish if SPX continues overarching bearish trend. IT IS CLEAR that the markets are unsure about reopening...
I've been waiting for lower prices since I made my last post and it appears that they're here.
Another wedge has appeared on the monthly. If MACD 50/200 crosses we have a bull run on our hands. Setting my limit a bit lower than the current price.
Nearly hit 7k price. Substantial recovery for bitcoin. I hope some of ya'll bought the dip. Most of the whales left the market at 10k and have re entered 4-5k. Anyone selling sub 6k got burnt, burnt, BURNT. The next major US sellers are those who will need money to make up for unemployment. I don't believe that there will be enough of that to tank the markets...
I've been scouring the markets for a coin that did well against the bitcoin price despite the entire market suffering massive losses.
I'm neutral for now but if the current upward resistance doesn't keep the price down those with upward limit orders will be good to traders.
Buying in at market here can be moronic, so it's best to set your limit for .236 resistance...
Disclaimer: I'm not giving yall advice. I just believe this is the next year in a nutshell: be safe and shame the people who hoard resources.
Major points of interest: Dot Com Bubble, Housing Bubble, ETF Bubble.
Fib retrace indicates massive greed during the current administration. They really wanted to push this thing to 3.6 and now it's plummeting to hell. I'm...
Just shy of repeating the most recent all-time-high, the DJI has quite possibly rejected breaking to higher levels and the bears look to recover lost ground. I set my fib retracement somewhere unusual for this chart. Between two major points of support/resistance since 2018. I've marked these resistances with full black lines.
A failure here to break higher could...
Finally, a gamble. Stocks are prone to plummeting if tariffs have thoroughly shaken most hands and/or pockets. Bulls ran out of steam in July and created a "fake" All time high. We've been hitting a light ceiling in the index more than a few times.
I'm neutral here, we've already experienced a tumble. More than likely we see a corrective recovery then ultimately...
I'm up late and a little stoned so I thought I'd make a chart with some silly lines because charting accounts for roughly 10% of a market like bitcoin.
So trend lines are dope til the candles swing under. Sometimes it's a trap, but usually it points to a massive sell off. All I see are buy signals. All I see is FUD news. Who would've expected bitcoin to cling to...
After the bullish move, BTC confirms to the bulls it returns to 0.5 retracement. We should next see a brief correction down, then a swing up towards $11,600.
RSI indicates the correction. Fib indicates the bullish momentum. Trend line indicates direction. Overarching trend (3-6 month) indicates 11,600 resistance in the green box.
Fibonacci retracement points to roughly $10,300 per BTC.
Definitely the possiblity of a bart formation stalling out orders.
1/2 month trading looks low and advantageous for spot buys.
Currently trading short of that is dangerous. BTC refusing to sink below 10 for more than a week is telling, the bulls are holding the wall (BTC 9k-11k) as tight as they can.
Price manipulators will try to shake shorts right now. Watching the stock market implode and fly towards a recession, bitcoin gets to shine. This cryptocurrency was born directly out of the 2008-2009 recession as a means to maintain value despite a recession. The gravity of this situation may have insanely dire consequences though. BUY BITCOIN BABY!!!
Trend lines are hard to lay on certain lengths of time currently as price is uncertain. 5D lines represent legs on my 1M. I will be posting more often. 0.5 fib retracement indicates light confirmation on bullish momentum. Price is too stable the market will hop upwards if it's not just manipulated by the market.
Facebook's Libra hits the crypto space with its announcement and Bitcoin is as bullish as ever.
Speculation is at an all time high, and even CNBC is mentioning bitcoin futures going long. As always $10,000 per bitcoin is a huge psychological barrier. If we consider all of the ascending triangles we've seen to this day, we know that this will likely break 10k...
Traders are currently taking profits and looking to enter in longs in the 7-8k range. The EMA cross at .5 retracement is the perfect storm. Consensus wrapped up over the weekend and bitcoin has seen explosive growth.
I'm personally staying neutral until the dust settles. Too early to take profits in alts. Bitcoin price might sink a little then return to a bull...
Bear trap, could be a flag, still bullish. Not out of the question, but unlikely.
.05 retracement, compare the RSI. Make your move.
Crashing through 5k resistance? Miners must be running at a deficit due to Chinese regulation. Elliot Waves are especially useful.
Bart: Eat my shorts.