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.
ALL
I do not trade against insurers when hurricane is comingMaybe this is just a moral decision and not so smart but I live in Florida where hurricanes are very usual, bet against insurance companies who could save your house or car is quite stupid as to bite the hand that feeds you.
This is not an idea nor a call. Just simply don't do it.
Learn how to beat the market as Professional Trader with an ex-insider!
October starts the last course of the year. Time to jump to the profit side.
Have a Nice Trading Week!
Cream Live Trading, Best Regards!
DOW Jones Industrials A Beautiful Old Lady Still
The Dow began its history with 12 constituents and grew over time to become the Dow 30 that we know today.
There's those numbers again.
The old lady is now 122 years old and still as beautiful as the day she was born. But beauty is in the eye of the beholder. Maybe she doesn't do it for you...
Dow Futures Update DJIA1!
This index had to stay above the 25702 line during yesterday's ongoing whipsaw through the open and beyond and if it managed to do this it meant a test of the next resistance line at 25782 would be the most likely outcome.
After rallying to within 10 points of the upside target at the open It then managed to hold up through a turbulent session with a subsequent low at 25713, before rallying away to the target and beyond.
As this is finished it's sitting just 4 points above yesterday's upside target line at 25782.
Support here may hold up but It can come back to 25759 when the market opens at lowest but must hold here to stay positive today.
To hold up in the 25782-25759 range through the open will again be very positive for this index up to the 26010-26055 range with lesser resistance at 25887 being the likeliest spot to expect profit taking /consolidation taking during the ascent.
If not long already can look to buy the dip with stops below 25750.
Dow Futures Closer
YoungShkreli is almost a TOP trader on tv!Guys, YoungShkreli here
This has nothing to do with bitcoin at all - almost. I am almost on the FRONT PAGE on tradingview and I started this only a little over a week ago. If you would all please like and follow my work, that would be so incredible. I've been doing this for less than two weeks (!!!) and already we are growing so fast and I'm so happy because that means I've been helping people and putting out good content. I really appreciate how much support I've gotten these past few days - it's been very illuminating and makes me believe in my dreams more. Remember, I do this for bigger goals in the future. The work that I and all of you do (by following and supporting) is very important and is going to help everyone in the future. I am not just a trader, I am a leader. Let me lead by being on the top, it's where I'm most comfortable.
I gave an update already, but I will give one now just so that I can give people an extra excuse to get you guys to follow me. As of now, we are trading at $6100. The price action has been interesting because it hasn't really done anything big in a while. We are forming a bear flag and that's what a lot of traders will tell you, but that's not what YoungShkreli sees. He sees a bear flag that is only slightly lower than the previous common trading level ($6300). In my experience, this often means there will be a bounce, but it doesn't have to happen. I've seen it go lower, I just thought I'd mention it because I think I'm the only one who has noticed that pattern in bitcoin and it's kind of a big deal.
Thank you so much everyone, I'm humbled by the support I've gotten. I want to be TOP trader, guys! MAKE it happen!
-YoungShkreli
BTC New Rocket? Sub Daily I am neutral. Daily I am definitely leaning bullish.
Analysis:
In most of these downtrends with BTC you see several triangle consolidations, and they become more visible with the Heikin Ashi. Right now we are breaking up out of one.
Moving Averages:
On my 8HR Heikin Ashi I have translated 50+200 Daily SMAs as well as 50+200 4HR EMAs.
All MAs are consolidating. The 50 EMA could create a nice rejection off the 200 EMA indicating bullish movement.
The Daily 50 SMA was pressed, possibly indicating a reversal.
Pivots/Fibs/Support/Resistance:
Monthly Pivot was breached but only recently. Weekly S2 was tested and held well.
Previous resistance zone 6850 and local Fib might be turned support now.
TD Sequential:
Daily had a fairly gentle decline, and 8 HR Heikin Ashi put out several bullish indicators recently.
JD Hitting The All-Time HighLast post: June 30th. See chart .
Review: Price was heading up towards the previous all-time high.
Update: Price has now started to challenge the all-time high resistance level.
Conclusion: We need price to clearly break through the resistance level and stay above it, then we can start to look for long opportunities.
Any comments or questions, do not hesitate to leave them below. Give us the thumbs up if you share our sentiments!
Sublime Trading
LITECOIN: LTCUSD All good still here: Buy on dipsLitecoin LTCUSD
If you were smart enough to use a break of the smaller
dynamic support as your exit point maybe you werre aso
smart enough to buy back using the longer term dynamic as an
entry point. It wasn't quite as perfect as the smaller dynamic
was - it was 1 point out - close but no cigar. Just hope you
managed to get long again there...at Litecoin we saw almost
perfect order amongst a shit-load of chaos everywhere else.
It's likely to encounter resistance off the underside of the
smaller dynamic when it touches it and a goood place to close
out if you did get back long from lower. it should then start to
consolidate some more between the two dynamics but with
an upward bias movong sideways within these boundaries for
while before surging higher still. Buy dips, sell rallies into the
overhead dynamic in very near term or look to accumulate on
weak spots over the next day or two.
Chaos only reigns here if the lonfger term dynamic fails at any
point.
PAY Pennants patternAs requested here is my re-evaluation of PAY.
for 30m it looks like we have a nice pennats pattern with the first candle close to breaking top of resistance.
The 1D RSI still looks strong wich make me think we still have one more push.
If we break up from the pennant we will have another resistance level around 1600. So that will be my first sell target, Once at 1600 and if RSI still looks strong i think we can go past 1900 and find some resistance at 2000.
Breaking down from the pennant and we most likely go down to lower support around 1000. If we bounce on the 1000 - 1100 that will be my BUY signal.
Invest at own risk :)
MTL nice support at 2000MTL look to have found strong support at 2000 ( Previous top ) and are now forming a pennant pattern.
If we have another wave up we will be close to an all time high and have free motion up from there.
My target will be 29 - 30.
It's been some good days for crypto :)
Inside bar without any resistanceAs we all know, inside bars suggests a continuation of the trend or a reversal of it when forming on notable resistances/supports,
USTEC has continued its journey to the moon after the recent huge decline. Buying a stock after reaching an all-time high, after retracements, is alright. I've been holding two long positions for the past weeks with an open TP, and I will hold so.
//Jim Cramer is one of CNBC’s top stocks analysts and a former hedge fund manager. In an edition of Mad Money, Cramer explained that he is often inclined to buy stocks that have reached fresh all-time highs, providing they have been rising consistently, and have pulled back since reaching their latest high point: "When I'm ready to establish a position, I wait for a pullback to come that's at least 5 percent down," Cramer said. //