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S&P 500 Finally Making New Highs!Last post: July 3rd 2019. See chart . Review: Price had created new highs but could have moved back below support. Update: Price has since continued to move even higher. Conclusion: Price is making new all-time highs and we may see the start of the next bull trend. We will now look for long opportunities in stocks. Any comments or questions, do not hesitate to leave them below. Give us the thumbs up if you share our sentiments! Sublime Trading
SP:SPXLong
by Sublime_Trading
2
Bitcoin: Correlation between NVT and the All-Time Mean Today I want to look at the bigger picture to put in context the recent Bitcoin move. In the weekly chart, we see that the bias is bearish. The lows at 3100 fail to qualify as a THE BOTTOM by any sort of crypto standard: a) Lack of volume b) Lack of strong bounce c) Lack of institutional blueprint d) NVT still optimistic Now, I want to look it from the perspective of the All-Time historical Mean for Bitcoin. The bottom would be more credible if it coincides with a test of this line, as happened in 2015. I'm plotting Bitstamp and BNC series, and we can see there a huge void between the current price location and the place where the All-Time Mean sits. At Bitstamp, Bitcoin consolidated above the All-Time mean during 8 months before confirming the bull trend. At the BraveNewCoin series (which is the longest one available in Tradingview), we see that the $150 spike bounced from the All-Time Mean. Therefore, this is a legit line to be taken into consideration to prove the bottoming. Most of the assets have a natural tendency to revisit this line along high time frame cycles (unless they are heavily manipulated). Additionally, the NVT is sitting at a similar range level (80-100) than did at 2015 before crashing below 50 and signal the low. Will bitcoin test the All-Time Mean during this cycle? Well, we don't know that for sure but certainly the chances are there. Bitcoin has been unable to fulfill any solid bottoming criteria and this one looks like could be the missing one that could trigger heavy volume and flash crash action.
BNC:BLX
by gliderfund
8
BTC in a giant rising wedge w/an apex close to 1 million in 2023 Decided to look at the overall trendlines for the entirety of BTC on bitstamp on the weekly log chart and it is very very encouraging. Although it is in a giant rising wedge which will eventually break down (most likely once the bubble finally bursts) The good news is we could climb to almost 1 million per bitcoin by 2023 before that happens....of course it could break down sooner than that like many rising wedges tend to do but if it holds out until the apex the dip it would fall to would be from 900k all the way down to the 6,000s which is where we are currently in price action. Also, this strong bottom support line which has held consistent since 2012 is fastly approaching our current price action which means we should soon go up from here and not have to worry about dipping down under the current level after December. Of course this is all my opinion not financial advice I could be wrong and the strong line of support could eventually be broken although an extremely low probability. We should also get back to our all time high range by no later than the end of 2019(possibly sooner) and continue to only go up exponentially from there if the support line holds true which the past has shown us time and time again it will.
BITSTAMP:BTCUSDLong
by DrDovetail
10