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Bearish Trend Line

SPX's Bear Rally May Tag Resistance Zone at 4100-4143Primary Chart: Down Trendline and Anchored VWAP from All-Time Highs, Fibonacci Retracements and Extensions Summary of Key Points: 1. SPX remains in a countertrend rally (an uptrend on shorter time frames) from the October 13, 2022 lows. See the parallel channel on the Primary Chart. The post-FOMC selloff found support right at the base of this channel. 2. A pullback and consolidation should be expected, though it's not necessarily a given. Though prices moved in almost a straight line late last week, that is not the norm and even with that nearly straight line, prices never move in a straight line on higher time frames. If a pullback / consolidation occurs, it would be in the blue box area shown on the Primary Chart. 3. SquishTrade will only consider targets above 4000 if SPX can successfully reclaim 4000 with a daily close above, i.e., 4000 works as as a condition precedent to 4100-4143. 4. The truth is that no one can see the future and predict with consistency and accuracy exactly what happens next. Technical analysis is a tool used to evaluate probabilities, not certainties. 5. Bear rallies, in the mean time, should be respected. After all, how many times have bears (including SquishTrade) had their heads handed to them on a shiny platter this year? They go higher than anyone expects. And they tend to turn back lower to resume the bear market just when everyone starts thinking the lows are in and a new uptrend at the primary degree has begun. SPX's bear rally may continue higher, with pullbacks / consolidations of course, to reach 4100-4143. Why is it still being called a bear rally? Some may wonder whether the lows are in after last week's powerful rally on incredibly strong breadth on November 10, 2022, with follow through on Friday, November 11, 2022. Social media is filled with calls for markets to move back to all-time highs given markets uncanny ability to "sniff out" the final stages of inflation and a return to normalcy with a Fed pivot not long afterwards. Sound too good to be true? Maybe it is. The truth is that no one can see the future and predict with consistency and accuracy exactly what happens next. Technical analysis is a tool used to evaluate probabilities, not certainties. The probabilities suggest the market heads lower at some point once the extreme emotions surrounding the "relief rally" (likely fueled by a nice mix of FOMO, algos and short-covering) have faded and price exhausts to the upside. Bear rallies, in the mean time, should be respected. After all, how many times have bears (including SquishTrade) had their heads handed to them on a shiny platter this year? They go higher than anyone expects. And they tend to turn back lower to resume the bear market just when everyone starts thinking the lows are in and a new uptrend at the primary degree has begun. SquishTrade's analysis suggests the bear rally should continue at least another week, perhaps two. Sure, a pullback is likely after the run up last week to consolidate those excessive gains, but the countertrend rally is likely to continue. Please interpret this analysis correctly—SquishTrade is labeling this a countertrend rally until the larger trend structure is definitively broken. SquishTrade is not long-term bullish or calling for a new uptrend at the primary degree. Comments asking why the view has flipped are misplaced: the long-term and even intermediate-term view has not flipped as every downtrend by definition includes both highs and lows in an ebb and flow progressing downward over time. At this stage, the downtrend at the primary degree remains intact. Note the downward trendline in dark blue from the all-time highs. Note the VWAP anchored to the all-time highs in January 2022. These represent actual price data, not opinions. The structure remains down at the primary degree no matter what macro chatter is out there. Tom Lee, a sort of permabull who correctly called the 2-year rally to SPX 4800 off the Covid lows is still calling for SPX 5100 by year end, and thinks that this rally leg can reach 4400. Other macro and technical analysts have said the lows are in and SPX is rallying having sensed the final stages of inflation. Of course, for every bull, there is an equally persuasive bear. SquishTrade believes all that information is contained in the technicals, so why argue the data when it may not matter in the end? Markets will do whatever they want. If markets break the downtrend, then the bulls are right. If they continue the downtrend, the bears are right. Squish remains a bear until the technicals on the larger timeframes can change. Consider two supplementary charts. First is the key anchored VWAPs from major pivots in this bear market. Note the VWAPs from the mid-August 2022 high, the mid-June 2022 low, the mid-October 2022 low. Those VWAPs are converging and beginning to rise, suggesting a strong support zone from 3800-$3879. If this support breaks along with the parallel channel support (the up TL from October 13, 2022), then all bets are off. If this support holds, then watch for a move to the targets identified above. Supplementary Chart A: Anchored VWAPs Supplementary Chart B: Fibonacci Time and Price Analysis Note the confluence of key levels in the Fibonacci price analysis around 4100 and just above that level. These also coincide with the all-time high anchored VWAP currently at 4114.25 and the down trendline from the all-time highs as well, at least where that trendline appears in the next couple weeks. As to the Fibonacci time analysis, consider that since the .50 Fibonacci time level didn't produce a meaningful turn lower, perhaps the .618 Fib level will. Full disclosure: the time analysis is the most speculative and unreliable portion of this post, so if it works out well, that would come as a surprise to ST. ________________________________________ Author's Comment: Thank you for reviewing this post and considering its charts and analysis. The author welcomes comments, discussion and debate (respectfully presented) in the comment section. Shared charts are especially helpful to support any opposing or alternative view. This article is intended to present an unbiased, technical view of the security or tradable risk asset discussed. Please note further that this technical-analysis viewpoint is short-term in nature. This is not a trade recommendation but a technical-analysis overview and commentary with levels to watch for the near term. This technical-analysis viewpoint could change at a moment's notice should price move beyond a level of invalidation. Further, proper risk-management techniques are vital to trading success. And countertrend or mean-reversion trading, e.g., trading a rally in a bear market, is lower probability and is tricky and challenging even for the most experienced traders. DISCLAIMER: This post contains commentary published solely for educational and informational purposes. This post's content (and any content available through links in this post) and its views do not constitute financial advice or an investment or trading recommendation, and they do not account for readers' personal financial circumstances, or their investing or trading objectives, time frame, and risk tolerance. Readers should perform their own due diligence, and consult a qualified financial adviser or other investment / financial professional before entering any trade, investment or other transaction.
SP:SPX
by SquishTrade
14
SPY: Don't Fight the Rally, Downtrends Include Highs TooPrimary Chart: Downward Trendline from All-Time High, Various Anchored VWAPs and Fibonacci Levels Rallies in Downtrends Are Part of the Process Don't fight the rally in AMEX:SPY , the ETF tracking the S&P 500 ( SP:SPX ). Bear rallies are part of every downtrend. Many are debating whether equity markets have put in a lasting bottom in mid-October 2022. Although this seems unlikely given the macroeconomic headwinds and interest-rate environment, no one really knows the answer to these questions. SquishTrade favors the continuation of trends, especially at the larger-degrees of trend, rather than reversal. So at the primary degree of trend, for example, from the all-time high, it makes sense to favor the odds that such downtrend will continue despite a reversal of trends at smaller degrees of trend (such as the uptrend shown on short-term time frames such as intraday charts and perhaps even the daily chart). But favoring the continuation merely recognizes the probability that the downtrend will resume at some point—and acknowledges that no certainty exists about whether a lasting bottom / major trend reversal has occurred. In short, no one knows what comes next. So we fall back on what is more probable and what is less probable. It's important to remember that downtrends include both highs and lows. A downtrend is defined by lower highs and lower lows, and on the daily chart and weekly chart since the all-time highs in January 2022, higher highs and higher lows appear. Sometimes, we traders sometimes wish that price would just move smoothly downward in more or less a straight line. But this does not happen. At each lower high in this current downtrend—March 2022, June 2022, and August 2022—major rallies led to actual market highs, albeit lower ones than previously. So don't fight the highs as they are part of every downtrend process. Even if one's macro research and technical analysis continues to support a bearish case, and the bearish case may end up prevailing in the larger degree of trend, it remains prudent to avoid fighting the rallies. This is a lesson the author has learned the hard way. Bear market rallies are powerful and sharp, often defying all logic. A prime example occurred last week, when major FAANG stocks like META, GOOGL and AMZN took major hits to the downside but indices remain stable and even rallied hard at the end of the week. Irrational? Maybe. But it's what the market wanted to do, so it's best to flow with it. And the rallies are part of the downtrend process, and in fact, they can provide better shorting opportunities than shorting at the lows expecting the downtrend to move in a straight line. Price Has Moved into a Key Price Zone from $380 to $413 SPY For the next couple of weeks into mid-November 2022, the following technical levels and patterns remain relevant. 1. SPY appears to have moved back into a critical price zone between $380 and $413—corresponding approximately to $3800 to $4146 on SPX. Support for this range lies at $380, which can be found from both price support over the past several months as well as Fibonacci analysis: Notice on the Primary Chart how price has now moved back above a longer-term Fibonacci retracement level at $380, the .382 Fibonacci retracement of the entire rally from Covid 2020 lows to January 2022 highs). This is now major support, having been resistance in prior weeks. Another key Fibonacci retracement lies at $380.05, which is the .382 retracement of the recent decline from August 16 to October 13, 2022. This $380 level is therefore an area of strong support going into next week. Within the next couple of days, the key 21-day EMA should also move right up to about $380 (though it lies at $375.13 currently). The yellow rectangle on the Primary Chart shows how this crucial area has served as important support and resistance—as well as a consolidation zone—for many weeks within this downtrend. Price bounced hard off this zone in late February and mid-March 2022. Price chopped in this zone in May and early June 2022, with a whipsaw break below it in mid-June 2022 that ultimately ended with price working its way back into the zone in July 2022. A whipsaw breakout above this zone occurred in August 2022, and this also failed with price falling back into the zone. Finally, in September and October 2022, price broke decisively below this zone. But now it has pushed its way back into it with another sharp rally over just two weeks (about 12 trading sessions). In short, this zone remains a very important area and magnet for SPY. 2. This crucial zone from $380 to $413 is reinforced and confirmed by the key anchored VWAPs, shown more distinctly on the supplementary chart below. The dark blue VWAP at $413 is anchored to the all-time high at January 4, 2022. A bunch of key short-term and long-term VWAPs run near the lower edge of this $380-$413 zone. These include VWAPs anchored to (i) the March 2020 Covid low (pink) at $385, (ii) the mid-August 2022 high (orange) at $382, and (iii) the mid-June 2022 low (green) at $386. On Friday, October 28, 2022, price reclaimed all these VWAPs except for the dark blue VWAP from the all-time high which remains at $413, at the top of this key zone. Supplementary Chart A: Key Anchored VWAPs 3. The upper edge of this key zone (yellow rectangle's upper boundary) shows confluence with key Fibonacci levels, trendlines and the January 2022 VWAP. The key resistance ranges from $399 to $415. The Primary Chart shows two Fibonacci levels at $399 ($400) and two more Fibonacci levels at $413. The downward trendline from the all-time high lies right in this area as well, and because it slopes downward, it covers most of the zone. The VWAP anchored to January 4, 2022, lies at $413. Note that two of the Fibonacci levels at $399 and $413 were derived by projecting the rally in March 2022 from the low in October 2022, as the rallies (so far) appear to be somewhat similar. SquishTrade is watching to determine whether the present rally off October 13 lows will be roughly symmetrical to the March 2022 rally. 4. The target range for this rally appears to range from $399 to $413. See the yellow circle on the supplementary chart below, where two arrows each point to a confluence of levels, one at $399/$400 and the other at $413-$415. As discussed, these two upside targets are defined by Fibonacci, the YTD down trendline, and a variety of relevant VWAPs discussed in paragraph 2. Supplementary Chart B: Target Zone for the Present Rally The Current Rally Should Be Respected until the Primary Trend Resumes Lower As mentioned, the trend the still remains in effect at the primary degree of trend (the trend YTD over the past 10 months). So this larger-degree trend is favored and remains the higher probability price path—but until it resumes lower, the rally should be respected. Although the author remains bearish at the primary degree of trend, he acknowledges that markets can do whatever they want, and no one really knows with certainty what happens next. Our job as traders remains to flow flexibly with what the market is doing at all levels of trend, watching how price responds to each level. And on the shorter timeframes and smaller degrees of trend, price is bullish until markets confirm that the rally is done. Lastly, here are some key technicals to watch to determine whether the multi-week rally remains in effect: The anchored VWAP from the October 13, 2022 low (shown in black on the Primary Chart). The parallel channel containing price since October 13, 2022 lows . Note that a break of this channel does not mean that the downtrend has resumed immediately, but it weakens the case for the strength of the current rally and adds "probability" to the resumption of the downtrend depending on how price responds to the key resistance levels). The 8-day and 5-day EMA's slope and price relative to those EMAs (above / below) . Currently, they are sloped upward with price holding well above them. This supports the rally. Price relative to the key $380 level , which is the lower level of the key price zone discussed above (yellow rectangle on Primary Chart). This level represents a line in the sand. Decisive breaks below it can quickly lead to lower prices. Price relative to the upper and lower VWAPs coinciding with the key price zone of $380 to $413 , as shown on Supplementary Chart A. Price response to the down trendline from all-time highs in January 2022 and the VWAP anchored to that point . VIX's decline from highs in late September and early October 2022. Price response after the FOMC meeting next week , though use caution—the first move, and sometimes the first and second moves, after the FOMC presser tend to be whipsaws (false moves). It's also important to note that price rallied hard last week. Those gains would seem likely to be consolidated soon. Price reached the 50% retracement of the August 16-October 13 decline at about $390 ($389.92), which corresponds to about $3908 on SPX. Even if price does rally further to the target zone identified, such a key resistance level as this $389-$390 level likely would repel price at the first contact. ________________________________________ Author's Comment: Thank you for reviewing this post and considering its charts and analysis. The author welcomes comments, discussion and debate (respectfully presented) in the comment section. Shared charts are especially helpful to support any opposing or alternative view. This article is intended to present an unbiased, technical view of the security or tradable risk asset discussed. Please note further that this technical-analysis viewpoint is short-term in nature. This is not a trade recommendation but a technical-analysis overview and commentary with levels to watch for the near term. This technical-analysis viewpoint could change at a moment's notice should price move beyond a level of invalidation. Further, proper risk-management techniques are vital to trading success. And countertrend or mean-reversion trading, e.g., trading a rally in a bear market, is lower probability and is tricky and challenging even for the most experienced traders. DISCLAIMER: This post contains commentary published solely for educational and informational purposes. This post's content (and any content available through links in this post) and its views do not constitute financial advice or an investment or trading recommendation, and they do not account for readers' personal financial circumstances, or their investing or trading objectives, time frame, and risk tolerance. Readers should perform their own due diligence, and consult a qualified financial adviser or other investment / financial professional before entering any trade, investment or other transaction.
AMEX:SPY
by SquishTrade
18
BYBIT CEO believes Bitcoin will fall below $10,000 USD!  I agree with Ben Zhou on his opinion about 4-digit Bitcoin! He thinks that we are probably going to see more bombs coming in the next few months (liquidations of exchanges, coins, or other big players). The CEO of Bybit has a lot of insider information about traders on his exchange. For example, he can see where the liquidity is and where people have their stop-loss orders. "Everything in crypto happens very fast; I believe a 6-month or so of this downtrend before an uptrend again," he said in his next statement. What do you think about it? Do you agree with Ben or not? Let me know in the comment section right now! You can watch a full interview with Ben Zhou on the Moon YouTube channel if you are interested in his thoughts. From my perspective, there are no signs of a trend reversal. As you can see on the chart, Bitcoin is pretty much drowning. I believe the bottom of Bitcoin will be between 6500 and 10300 USD! For more ideas, hit "Like" and "Follow"! Bybit is currently the #2 exchange on CoinMarketCap in the section "Derivatives."
Short
by UnknownUnicorn2537518
64
TWT Trust Wallet - The pump is over, buy at these levels! TWT is a great token, but it looks like the price is too high at this moment, which is why I recommend buying the dip at lower levels! As you can see, the chart is printing a descending triangle at the top of the uptrend. This is definitely not a good sign at all. Descending triangles have a higher probability of breaking down. I made a descending parallel channel projection on the LOG scale, which can be very useful in the future. Usually, triangles turn into channels. The impulse wave has been completed, and we are looking for a retracement. I will give you the two most important levels where you can place buy orders. 1.46 USDT and 1.22 USDT are great levels to buy TWT. If you missed the pump, it's not a problem at all. I will trade this altcoin once it reaches my levels for short-term gains! The first level on the log scale is the 0.618 FIB, which is, of course, a very strong support. We should see a lot of buyers at this particular level. The second level is based on price action. We have an unfilled gap from the previous uptrend that can be filled in the short term. On a higher time frame, it is also a breakout level of the previous market structure. The platform was acquired by Binance in July 2018. So there is a huge expectation for the Trust Wallet token. Binance is currently the most reliable crypto exchange in the world. A 26–40% correction is possible. I will take this opportunity once the price reaches my targets. For more ideas, hit "Like" and "Follow"!
Short
by UnknownUnicorn2537518
41
XRP - When moon? I'll tell you when... I will tell you, when the moon is for XRP, but first, let's take a look at the technical analysis. On the chart, you can see two major downtrending trendlines, and the price is below them. The bears are in full control, and I cannot be bullish at this point. The previous uptrend from June 13 to September 19 was a 3-wave structure (ABC). This suggests a corrective counter-move in the main direction of the trend. The trend is indeed bearish. I want to see an impulsive structure before even considering becoming a bull on XRP. What's more, the price is printing a head and shoulders pattern, and the price is currently forming the left shoulder.  Basically, it's a shorting opportunity if you want to catch the local top. Or wait for a breakout below the neckline for a confirmation. Your profit target is at the bottom of the parallel channel on the LOG scale. XRP can drop by another 50% or 80% to 0.1 USDT next year. It's very likely, in my opinion. If we take a look at the MACD indicator, we can see that the bulls are losing steam on the histogram, and the bearish crossover can occur very soon! So when moon for XRP? There is no indication from whales that they are buying XRP at this moment. It looks like they want to buy cheaper XRP at 0.1 USD. I think XRP can moon next year in 2023, it's possible, why not. Happy trading!
Short
by UnknownUnicorn2537518
73
Bitcoin - Cheat sheet (road to 3k, levels) Everyone will call you a cheater for these levels because you can very well predict massive short-term bounces! I will never give you a zone. I will give you levels that are exact to the dollar!  You can use these levels if you are a swing or intra-day trader, but also if you are an investor and you want to buy Bitcoin cheap. These levels are for everyone! I expect a massive bounce from 10254 USD. You can use this level for a 30% - 50% profit with a stop loss of 8700 USD. You can be sure that I will be a buyer at this level. I don't want to miss this opportunity. The question is, how long do we have to wait for prices to reach these levels? It doesn't matter; it can be this year, next year, or even in a few years. The sooner the better because you probably do not want Bitcoin to be stuck in some range between 14k and 20k for another year, but it's possible. I believe 6435 is very likely if bitcoin fails to hold the 0.618 FIB. A simple pattern for Bitcoin is: if BTC fails to hold the 10254 area, then 6435 is the next support. If BTC fails to hold the 6435 area, then 3516 is the next support. If Bitcoin fails to hold 3516, then we can see a huge capitulation wick below 3000 with strong buying activity from whales. If BTC fails to hold 3000, then sorry, you have been scammed, and maybe BSV is the real Bitcoin. But I don't want to speculate on this topic of BTC vs. BSV at this moment. The previous all-time high, set in 2017, is now extremely powerful: 19798. We can go here in the short term before continuing in the dump. So do not fall for any fake pumps. The DXY index will go much higher after a correction. Many stop-loss orders have been placed below the previous swing low: 9825. I believe the market is going to wipe out all orders below this level. I wish you massive profits at these levels! I don't want to wish you good luck because trading is not about luck. 19798: 2017 ATH resistance (major) 12468: Start of the volume area high (VAH) + swing high (minor) 10254: 0.618 LOG Fibonacci retracement (major) 9343: Point of Control (POC) + GAP (major) 7293: GAP (minor) 6435: POC of the previous triangle + swing low (major) 5303: Volume profile node + triangle 4h POC (minor) 3782: POC of the previous triangle + swing low: (minor) 3156: Ultimate bottom of the impulse wave: (major)
Short
by UnknownUnicorn2537518
97
Bitcoin - Secret Invisible Pattern! This is a secret parallel channel that absolutely no one is talking about because it's visible only to experienced traders. Don't be a noob and buy at the 0.618 FIB + 1.618 FIB + channel bottom like a pro (if the price reaches this level)! Or open a leverage position on futures here. Bitcoin is the most hated asset in the world, and everybody spits on it. The funny thing is that while the dollar has been weak in recent weeks, bitcoin has been even weaker. As you can see, we have plenty of room to go down into the abyss. I don't know if the price will go up or down; I don't really care. I am mainly a day trader, and I post on TradingView only long-term views on crypto. But I have to admit I will be interested in Bitcoin once it reaches 3k for a long-term investment with part of my funds. Setup your orders to buy Bitcoin at 10k for a massive 50% profit, because I expect a massive short-term bull market from this level! Bitcoin is basically free falling; it's an absolute disaster, and the bear party with honey is awesome. Regards, Tolberti.
BITSTAMP:BTCUSD
by UnknownUnicorn2537518
34
DOGE - insane 83% drop, here is why! Doge pumped a lot, but it looks like a scam pump to me. There are no buyers at all. I think this uptrend was fueled by stop-loss triggers and liquidations on the futures market. At this moment, the uptrend looks like a major ABC correction. Clearly, we can see a three-wave structure. Also, the bulls failed to hold the wave A swing high at 0.089, which is a sign of weakness. Why would anyone want to buy DOGE at this moment? I don't see any bullish patterns. Better open a short position on futures , but look for setups on lower timeframes. This analysis is on the weekly chart. No worries, you can buy DOGE at the 0.618 FIB for quick gains. That's exactly what my plan is for DOGE! On the chart you can see a projection for a parallel channel . This channel is amazing, because you can buy at the bottom of the channel for quick gains. A 83% drop is possible, and I will not be surprised if we go even lower. This mini-uptrend is not healthy. On the chart, you can see three strong supports: 0.618 FIB, POC1, and POC2. This is incredible because there will be a lot of money to be made at these levels! Let's be honest; everyone bought DOGE because of that pump, and now everyone is trapped. Sell DOGE while the price is high, it's not too late. If something pumps in one week and then dumps back, then it's obviously a fake move, and it will be punished by a massive crash. Can DOGE drop by 83%? Let me know in the comment section right now! For more ideas, hit "Like" and "Follow"!
Short
by UnknownUnicorn2537518
62
COST, Another clean short set up !COST is offering another clean short set up. After proposing a beautiful and profitable Quasimodo pattern , COST reached to our first proposed take profit target ( See Related idea for details). After hitting our target , COST started a rally which is beautifully an abc form of counter trend correction . This abc form counter trend correction hit 0.618 retracement level of previous decline . Mentioned previous decline which was our short position is beautifully 12345 leg down therefore in terms of Elliott waves, every thing is it's right place to go short. Moreover, stochastic indicator is in overbought zone in daily time frame which may be a good signal for possible trend reversal. Please note two cluster of Fibonacci levels can be seen on the chart. COST has reacted well to first cluster which also nicely coincides with down trend line shown on the chart. This down trend line is a valid one since it has 3 rejection in it's history and yesterday hit might be the 4th rejection. Trade set up and information were also added to the chart. Please note that besides all these bearish evidences , our proposed set up may not go well therefore I kindly ask you to set stop loss carefully . As explained on the chart, if you can tolerate more risk it may be a good idea to set stop loss higher at 565 USD. Our take profit targets show our Reward to Risk Ratio is extremely high so I think it is good to take the risk. Good luck and wish you continuous profit.
NASDAQ:COSTShort
by SaeedSajedi
5
Price Exhaustion Just Before NVDA's Earnings ReportPrimary Chart: Trendlines, VWAPs and Fibonacci Levels Summary: 1. NVDA's bear rally shows signs of exhaustion by breakout to the upside out of its parallel channel. 2. Seasonality remains bullish so that could cause more unexpected moves to the upside before lower. 3. In the intermediate to long term, NVDA likely heads lower. The bear could resume this week. Or it could resume in a few weeks or a month or two. No need to guess, just follow price. 4. Earnings are risky binary events, and price can whipsaw or even move further than the expected move. As a hypothetical example, consider the price path shown on the primary chart, which should not be read as a forecast but a possibility around earnings. 5. In a prior post from mid-September 2022, SquishTrade showed a chart that revealed a path to about $83 for NVDA in the longer term. That target remains viable. That won't happen in a straight line and it likely won't happen in a day or a week. That chart is shown below: This chart is found in the updates to ST's September 12 post linked here: NVDA's countertrend price move shows signs of exhaustion just before earnings reports after market close. NVDA could react in either direction similar to FAANG and other tech stocks' reactions last month. Some tech stocks surprised to the upside with a failure soon afterwards (AAPL), while others fell further than expected (AMZN, GOOGL, META). On November 13 (Sunday), a prior NVDA post was updated with some countertrend targets after the rally that had begun on Thursday, November 10 (post CPI data report in the US). That update can be found here . One of those targets has been reached—see the larger yellow circle on the chart above. That was the major resistance zone of $165-$174 around the Covid-low VWAP and the .786 Fibonacci retracement. While this author provides technical analysis generally, leaving all decisions about trading to each trader's own system and rules, he avoids trading just before earnings. Most traders would be wise to do the same unless they have a strategy or edge specifically for those types of binary events. Some traders choose to trade volatility strategies around earnings—perhaps buying vol a few weeks before and selling it just before earnings, or selling vol just before earnings and closing thereafter. But those are difficult to implement and manage, though some experts appear to have viable strategies for this. Beware the whipsaw move post earnings as well (as happened with AAPL around earnings in late October 2022), a pump and then a dump or a dump and then a pump followed by another dump. The Primary Chart shows a hypothetical example of such a whipsaw—please do not interpret the price path as a forecast, though it could by some luck work out that way. The price path is a hypothetical illustration showing what sorts of moves could occur post earnings. Lastly, please note that although this post is designated as "short," that is the long-term view. The short-term view remains bullish until price reverses. SquishTrade prefers not to fight bear rallies but allow them to unfold until their natural ending. Finding that bear rally top for a good short is everyone's dream, though it's not particularly realistic. But no need to do so—the money can be made more consistently by catching a good piece of the next trend move rather than trying to squeeze every last penny from top to bottom (or bottom to top), which often and inevitably results in capital loss. Thanks for reading. ________________________________________ Author's Comment: Thank you for reviewing this post and considering its charts and analysis. The author welcomes comments, discussion and debate (respectfully presented) in the comment section. Shared charts are especially helpful to support any opposing or alternative view. This article is intended to present an unbiased, technical view of the security or tradable risk asset discussed. Please note further that this technical-analysis viewpoint is short-term in nature. This is not a trade recommendation but a technical-analysis overview and commentary with levels to watch for the near term. This technical-analysis viewpoint could change at a moment's notice should price move beyond a level of invalidation. Further, proper risk-management techniques are vital to trading success. And countertrend or mean-reversion trading, e.g., trading a rally in a bear market, is lower probability and is tricky and challenging even for the most experienced traders. DISCLAIMER: This post contains commentary published solely for educational and informational purposes. This post's content (and any content available through links in this post) and its views do not constitute financial advice or an investment or trading recommendation, and they do not account for readers' personal financial circumstances, or their investing or trading objectives, time frame, and risk tolerance. Readers should perform their own due diligence, and consult a qualified financial adviser or other investment / financial professional before entering any trade, investment or other transaction.
NASDAQ:NVDAShort
by SquishTrade
15
NVDA: Early Bears Punished by Devious WhipsawPrimary Chart: Two Downward Trendlines, Fibonacci Levels, Major Resistance Zone and Anchored VWAP from October 13 Low Early bears jumping in to short NVDA last week were punished when NVDA's apparent breakdown failed. NVDA broke decisively below key Fibonacci support as well as an upward TL off the YTD lows from mid-October 2022. But then this breakdown utterly failed with price moving right back up above the TL and into the parallel channel off the YTD lows. Price also reclaimed that key Fibonacci level at $134.85 (the .382 retracement shown as a purple line). Now price remains squarely within the parallel channel, but on Friday last week, it rallied smack into resistance at the August 4, 2022, VWAP (orange). This VWAP lies at $141.78. Price may pull back from this level a bit even if later it wants to push a bit higher before starting the next leg downward. SquishTrade monitors the $145.87 to $150.67 range as a key resistance level where NVDA's bear rally could ultimately fail. No one can predict the future, so it's important to stay open minded to probabilities rather than remaining married to a viewpoint such as a rigid bearish or bullish argument. Markets love to destroy well-supported but overly rigid viewpoints. In short, the probability of the downtrend resuming continues to increase as NVDA rises higher. The downtrend line and pink resistance zone ($145-$151) marks a key spot where the probabilities for a downward move seem better as long as risk is managed with with a tight stop above this key level. SquishTrade recommends continuing to watch DXY and interest rates as this market remains challenging and tricky. A more conservative approach may be to wait for confirmation rather than getting bearish right at major resistance. The reason for this approach is that one never knows when a bear rally will end, and markets love to whipsaw before starting their real trend move, and this is true especially this year. Some may see a break above the down TL from March 29, 2022 (light blue TL). The linear chart below shows this TL as having been violated to the upside. But keep in mind that the Primary Chart which is logarithmic shows that this TL has not been touched yet since August 2022. The chart below shows the linear chart's version of the TL break. But on both linear and log charts, the longer-term down TL (gold) has not been broken, and that lies significantly overhead. Supplementary Chart: Linear Chart Showing TL Break SquishTrade has been watching NVDA for a short setup, and will continue to monitor how price responds to some key resistance levels. SquishTrade prefers not to consider shorts before earnings. Sure, this may result in missing the move as with AMZN, GOOGL, META, MSFT in recent weeks. But it also may mean missing the complete annihilation of a position as with bears on AAPL or bulls on GOOGL and AMZN around earnings reports in recent days. And with CPI in the US being released this week (November 10, 2022)—and CPI reports have almost started becoming like FOMC days in terms of volatility in equity markets—and with midterm elections on Tuesday, markets could wipe out a fair number of poorly positioned bears and bulls alike this week. Caution is recommended. Wait for the best setups, the right setups for your trading strategy and approach. And remember, there will always be more setups, so don't let FOMO cloud judgment. Bears can get the same degree of FOMO as the most optimistic bulls. ________________________________________ Author's Comment: Thank you for reviewing this post and considering its charts and analysis. The author welcomes comments, discussion and debate (respectfully presented) in the comment section. Shared charts are especially helpful to support any opposing or alternative view. This article is intended to present an unbiased, technical view of the security or tradable risk asset discussed. Please note further that this technical-analysis viewpoint is short-term in nature. This is not a trade recommendation but a technical-analysis overview and commentary with levels to watch for the near term. This technical-analysis viewpoint could change at a moment's notice should price move beyond a level of invalidation. Further, proper risk-management techniques are vital to trading success. And countertrend or mean-reversion trading, e.g., trading a rally in a bear market, is lower probability and is tricky and challenging even for the most experienced traders. DISCLAIMER: This post contains commentary published solely for educational and informational purposes. This post's content (and any content available through links in this post) and its views do not constitute financial advice or an investment or trading recommendation, and they do not account for readers' personal financial circumstances, or their investing or trading objectives, time frame, and risk tolerance. Readers should perform their own due diligence, and consult a qualified financial adviser or other investment / financial professional before entering any trade, investment or other transaction.
NASDAQ:NVDAShort
by SquishTrade
15
Ethereum - Macro outlook | -62% next month! After the merge, the price of ETH is rapidly going down. It's basically a free fall right now. It was clearly a sell-the-news event.  I am very bearish until we break the major trendline that you can see on the chart. There is absolutely no reason to buy ETH at this moment.  On the daily chart, we can spot a descending parallel channel that is very well respected with all trendlines inside. These trendlines can be useful for short-term trades. I believe there is a possibility of touching the downward trendline in the future.  The market never goes in a straight line; we always have waves during the trend and that's why Elliott Waves are the best indicator to understand where we currently are in the market structure. According to my Elliott Wave analysis, we are in the final 5h wave of this particular market structure, which can be deadly indeed. But if I am right and we will go down, then do not expect ETH to go to new all-time highs soon. So prepare your shorts, because that's the only way you can profit in this bearish market. Maybe the ETHBTC pair is also starting a new macro downtrend, so basically ETH will fall off the cliff. The situation for ETH is horrendous. It's really better to switch to BNB if you really want to hold some coins. Or just stay in USDT and buy after the crash. I do not expect any tremendous gains for selected altcoins. You can find the most bearish altcoins in the related section down below. Serum (SRM) looks juicy for shorting on the futures market. For more analysis, hit "Like" and "Follow"!
Short
by UnknownUnicorn2537518
219
✅Bitcoin - The bottom is in! The temporary bottom on Bitcoin is in! Now we are looking for a bullish retracement. I think we will go lower, to 3K-10K, in the next few years, but not now! On the chart, you can see the strongest resistance on the way up. It's hard to say which one will be the reversal point. Do you think this Bitcoin crash was natural or was it caused by some strong entity? Let me know what you think in the comment section. I am happy to read your comments! I think the most probable scenario for Bitcoin is to reach the blue trendline, or 0.618 FIB, at this moment. The crypto market is a joke, and all investors are getting rekt pretty much all the time, and it's going to be even worse. It's not easy to choose the right coins; only about 5% of them are powerful. The only reliable investment is BNB, let's be honest! At least it's holding its value and going up a little bit. This week was extreme for Crypto, pretty much very sad, but it is how it is, and we need to adapt! The upcoming uptrend will be a countertrend. That means it should be very fast, and we can finally experience a massive green dildo. DXY is crashing and EURUSD/GOLD is pumping, which is also a good sign for this weak crypto market. In my opinion, a relief rally is very likely right now! For more analysis, hit "Like" and "Follow"! On the 1h chart, we can spot a strong impulse wave, which is a sign of strength!
Long
by UnknownUnicorn2537518
89
BTC's Logarithmic TL vs. Linear TL: Vote Now!Primary Chart: BTC's Logarithmic Trendline from the All-Time High to the Present Date BTCUSD's current down trendline reflecting the primary trend can be drawn on either a logarithmic or linear chart. Both charts are used in technical analysis. Logarithmic charts tend to be better at conveying accurate proportions of price action on charts covering a lengthy period of time and a broad span of price action. In the case of BTC, why does it matter? Look at the down trendline drawn on a linear chart (Supplementary Chart below) connecting the same all-time high in November 2021 and the March 28-April 5, 2022 peaks. Notice the breakout? Supplementary Chart: BTC's Linear Trendline from the All-Time High to Present Date Other evidence suggests that the downtrend is not over yet and new lows are likely. But the choppy and trap-filled price action since June 2022 has made it difficult for any directional traders long or short. Care to vote in the comments? It's probably true that each vote reflects the conclusions each of us has reached, and our general market expectations. My vote is that the logarithmic chart is the better TL. But my posts have remained fairly bearish this year, so this may reflect my underlying expectation that no new uptrend is being established in crypto assets despite any sharp bear rallies in the near term. Here are some of the technical reasons (in prior posts linked below) for remaining bearish. But for each of these reasons, there may be other keen technical or fundamental arguments being made for why the lows are very near. Bearish arguments in prior posts: Have a great trading week! ________________________________________ Author's Comment: Thank you for reviewing this post and considering its charts and analysis. The author welcomes comments, discussion and debate (respectfully presented) in the comment section. Shared charts are especially helpful to support any opposing or alternative view. This article is intended to present an unbiased, technical view of the security or tradable risk asset discussed. Please note further that this technical-analysis viewpoint is short-term in nature. This is not a trade recommendation but a technical-analysis overview and commentary with levels to watch for the near term. This technical-analysis viewpoint could change at a moment's notice should price move beyond a level of invalidation. Further, proper risk-management techniques are vital to trading success. And countertrend or mean-reversion trading, e.g., trading a rally in a bear market, is lower probability and is tricky and challenging even for the most experienced traders. DISCLAIMER: This post contains commentary published solely for educational and informational purposes. This post's content (and any content available through links in this post) and its views do not constitute financial advice or an investment or trading recommendation, and they do not account for readers' personal financial circumstances, or their investing or trading objectives, time frame, and risk tolerance. Readers should perform their own due diligence, and consult a qualified financial adviser or other investment / financial professional before entering any trade, investment or other transaction.
Short
by SquishTrade
19
✅Bitcoin - Secret pattern no one is talking about! Not 13,000 USDT, not 12,000 USDT, but I think 10,000 USDT or 9,500 USDT can be the bottom for Bitcoin, and this is a very optimistic scenario! As you can see, the bears yesterday successfully broke the key market structure that had held for almost 6 months. Bitcoin is now in serious trouble, and 3,000 USDT is now at play, believe it or not. A 5-year or 10-year bear market (crypto winter) is also possible. Maybe the 17k that was hit yesterday was a temporary bottom; it's possible, but I don't think so. The temporary bottom will be around 14k, when everyone will be buying, and we will have a massive false uptrend. The chart is printing a falling wedge, but this wedge is incomplete, and we need much more time to spend on this pattern. From the Elliott Wave perspective, an impulse wave was printed yesterday, which is a disaster, that's for sure. A support of 10,000 USDT is very strong. I expect a significant reaction here because it is the 0.618 FIB of the previous impulse wave + the previous head and shoulders neckline. A lot of big players will get liquidated during an upcoming crash, like LUNA, FTT, and so on. The only good investment is BNB, let's be honest! At least it's holding its value. For more analysis, hit "Like" and "Follow"!
Short
by UnknownUnicorn2537518
67
DOGE - To the moon! Huge bull flag | +5000% Doge is absolutely ready for a massive impulsive wave to the upside on the macro scale! The chart is printing an impressive bullish flag on the weekly chart with an ABC ZigZag structure, which is even better. As you know, I am very bullish on Bitcoin for the upcoming year 2023 and the BTC dominance chart indicates a juicy alt season! As per my Elliott Wave analysis on the macro scale, we have finished a corrective ABC wave 4, and we are currently starting a final impulsive wave 5. We don't really know what price DOGE can reach, but I expect the 0.618 FIB or the 0.764 FIB extension from Wave 3 -> Wave 4. The average transaction fee on DOGE is currently 0.04 USD and the confirmation time is below 1 minute. I expect tremendous gains for selected altcoins. You can find them in the related section down below. For more ideas, please hit "Like" and "Follow"!
Long
by UnknownUnicorn2537518
115
Bitcoin - Drop to 13 000 USDT! But first a relief uptrend!🟡 The situation for Bitcoin is terrible. There is nothing bullish at this moment. We are below the 200 weekly moving average and the main trendline from 2013 has been destroyed by the bears recently. The bulls are weak, and the only trump that they have is the 200 weekly moving average on the TOTAL crypto market cap chart, because the price is above this level. On the 4h chart we have a descending parallel channel that is well respected, so there is a possibility for another drop down in the immediate short term. As per my Elliott Wave analysis, an impulse wave has been printed on the chart, and this is absolutely devastating for the bulls. That's not what you want to see. Anyways, I think this impulse wave is done or almost done and we should go up for an ABC correction above the previous triangle to wipe out late shorts on the futures. Then it looks like we will continue lower to 13 000 USDT, which would be a great zone for a long position back above 25 000 USDT. However, I don't think we will hit the all-time high in the next few years. It looks like the bubble has popped and we are in the first real bear market in the history of Bitcoin. The first bull cycle from 2009 - 2021 has ended and we are in the first bear cycle. We don't know how long this bear cycle is going to last. For more analysis hit "Like" and "Follow"!
by UnknownUnicorn2537518
239
Bitcoin - You haven't seen this before! (secret) You haven't seen this inverse head and shoulders pattern before! The price of bitcoin is going sideways, so I had to do more research and find something new.  30400 USDT is a profit target for the Head and Shoulders pattern, which is strong resistance. It's the measurement target of the HaS + previous symmetrical triangle point of control (POC). The 5–10-year bear market is not confirmed yet, so do not fall for it! First, the bears need to break the 17500 USDT level to confirm this scenario.  The stock market is crashing like crazy, but Bitcoin is extremely durable. So good, right? Or so bad, if you are in a short position.  As per my Elliott Wave analysis, we have started the uptrend with an impulsive structure (9 waves), which is definitely a great sign, because 5-9-13-17 waves are impulsive, while 3-7-11-15 are corrective structures. An ABC correction of the previous impulse has also been completed successfully.  Is this inverse head and shoulders pattern the last hope for the bulls? I think so. Is this the last time we can purchase bitcoin for less than $20,000 USDT? Not sci-fi.  Is a 5–10 year crypto winter possible for the crypto market? If we break below the 17500 USDT level, then yes. Is it possible to get 3000 USDT per bitcoin? If we break below the 17500 USDT level, then it's actually very possible.  Is Bitcoin a Ponzi? Yes! I expect tremendous gains for selected altcoins. You can find them in the related section down below. For more analysis, hit "Like" and "Follow"!
Long
by UnknownUnicorn2537518
131
0% Inflation very soon?United States Inflation Rate, Year-over-Year, 1914-2022 chart ---------------------------------------------------------------- Why do I think inflation will go down to 0%? Inflation is currently at the main trendline (established in 1920). This is a very strong resistance, and as a general rule, do not short a support or long a resistance. In other words, you don't want to speculate on inflation increasing when inflation is at its critical point. FED cares about their charts, and they also want the charts to look great. That's why they will push inflation down. ---------------------------------------------------------------- Why the Inflation Rate Matter? The inflation rate demonstrates the health of a country's economy. It is a measurement tool used by a country's central bank, economists, and government officials to gauge whether action is needed to keep an economy healthy. That's when businesses are producing, consumers are spending, and supply and demand are as close to equilibrium as possible. A healthy rate of inflation is good for both consumers and businesses. During deflation, consumers hold on to their cash because the goods will be cheaper tomorrow. Businesses lose money, cutting costs by reducing pay or employment. That happened during the subprime housing crisis. In galloping inflation, consumers spend now before prices rise tomorrow. That artificially increases demand. Businesses raise prices because they can, as inflation spirals out of control. When inflation is steady, at around 2%, the economy is more or less as stable as it can get. Consumers are buying what businesses are selling. ---------------------------------------------------------------- How is inflation measured? There are several ways to measure inflation, but the U.S. Bureau of Labor Statistics uses the consumer price index. The CPI aggregates price data from 23,000 businesses and 80,000 consumer goods to determine how much prices have changed in a given period of time. If the CPI rises by 3% year over year, for example, then the inflation rate is 3%. The Fed, on the other hand, relies on the price index for personal consumption expenditures (PCE). This index gives more weight to items such as healthcare costs. ---------------------------------------------------------------- How do you hedge against inflation? Because inflation causes money to lose value over time, hedging against it is an important part of any sound investing strategy. Investors use a diversified portfolio with a variety of asset types to offset inflation and ensure that the overall growth of their portfolio outpaces it. ---------------------------------------------------------------- YEAR - INFLATION RATE YOY - FED FUNDS RATE - BUSINESS CYCLE (GDP GROWTH) - EVENTS AFFECTING INFLATION 1929 0.6% NA August peak Market crash 1930 -6.4% NA Contraction (-8.5%) Smoot-Hawley 1931 -9.3% NA Contraction (-6.4%) Dust Bowl 1932 -10.3% NA Contraction (-12.9%) Hoover tax hikes 1933 0.8% NA Contraction ended in March (-1.2%) FDR's New Deal 1934 1.5% NA Expansion (10.8%) U.S. debt rose 1935 3.0% NA Expansion (8.9%) Social Security 1936 1.4% NA Expansion (12.9%) FDR tax hikes 1937 2.9% NA Expansion peaked in May (5.1%) Depression resumes 1938 -2.8% NA Contraction ended in June (-3.3%) Depression ended 1939 0.0% NA Expansion (8.0% Dust Bowl ended 1940 0.7% NA Expansion (8.8%) Defense increased 1941 9.9% NA Expansion (17.7%) Pearl Harbor 1942 9.0% NA Expansion (18.9%) Defense spending 1943 3.0% NA Expansion (17.0%) Defense spending 1944 2.3% NA Expansion (8.0%) Bretton Woods 1945 2.2% NA Feb. peak, Oct. trough (-1.0%) Truman ended WWII 1946 18.1% NA Expansion (-11.6%) Budget cuts 1947 8.8% NA Expansion (-1.1%) Cold War spending 1948 3.0% NA Nov. peak (4.1%) 1949 -2.1% NA Oct trough (-0.6%) Fair Deal, NATO 1950 5.9% NA Expansion (8.7%) Korean War 1951 6.0% NA Expansion (8.0%) 1952 0.8% NA Expansion (4.1%) 1953 0.7% NA July peak (4.7%) Eisenhower ended Korean War 1954 -0.7% 1.25% May trough (-0.6%) Dow returned to 1929 high 1955 0.4% 2.50% Expansion (7.1%) 1956 3.0% 3.00% Expansion (2.1%) 1957 2.9% 3.00% Aug. peak (2.1%) Recession 1958 1.8% 2.50% April trough (-0.7%) Recession ended 1959 1.7% 4.00% Expansion (6.9%) Fed raised rates 1960 1.4% 2.00% April peak (2.6%) Recession 1961 0.7% 2.25% Feb. trough (2.6%) JFK's deficit spending ended recession 1962 1.3% 3.00% Expansion (6.1%) 1963 1.6% 3.5% Expansion (4.4%) 1964 1.0% 3.75% Expansion (5.8%) LBJ Medicare, Medicaid 1965 1.9% 4.25% Expansion (6.5%) 1966 3.5% 5.50% Expansion (6.6%) Vietnam War 1967 3.0% 4.50% Expansion (2.7%) 1968 4.7% 6.00% Expansion (4.9%) Moon landing 1969 6.2% 9.00% Dec. peak (3.1%) Nixon took office 1970 5.6% 5.00% Nov. trough (0.2%) Recession 1971 3.3% 5.00% Expansion (3.3%) Wage-price controls 1972 3.4% 5.75% Expansion (5.3%) Stagflation 1973 8.7% 9.00% Nov. peak (5.6%) End of gold standard 1974 12.3% 8.00% Contraction (-0.5%) Watergate 1975 6.9% 4.75% March trough (-0.2%) Stop-gap monetary policy confused businesses and kept prices high 1976 4.9% 4.75% Expansion (5.4%) 1977 6.7% 6.50% Expansion (4.6%) 1978 9.0% 10.00% Expansion (5.5%) 1979 13.3% 12.00% Expansion (3.2%) 1980 12.5% 18.00% Jan. peak (-0.3%) Recession 1981 8.9% 12.00% July trough (2.5%) Reagan tax cut 1982 3.8% 8.50% November (-1.8%) Recession ended 1983 3.8% 9.25% Expansion (4.6%) Military spending 1984 3.9% 8.25% Expansion (7.2%) 1985 3.8% 7.75% Expansion (4.2%) 1986 1.1% 6.00% Expansion (3.5%) Tax cut 1987 4.4% 6.75% Expansion (3.5%) Black Monday crash 1988 4.4% 9.75% Expansion (4.2%) Fed raised rates 1989 4.6% 8.25% Expansion (3.7%) S&L Crisis 1990 6.1% 7.00% July peak (1.9%) Recession 1991 3.1% 4.00% Mar trough (-0.1%) Fed lowered rates 1992 2.9% 3.00% Expansion (3.5%) NAFTA drafted 1993 2.7% 3.00% Expansion (2.8%) Balanced Budget Act 1994 2.7% 5.50% Expansion (4.0%) 1995 2.5% 5.50% Expansion (2.7%) 1996 3.3% 5.25% Expansion (3.8%) Welfare reform 1997 1.7% 5.50% Expansion (4.4%) Fed raised rates 1998 1.6% 4.75% Expansion (4.5%) LTCM crisis 1999 2.7% 5.50% Expansion (4.8%) Glass-Steagall repealed 2000 3.4% 6.50% Expansion (4.1%) Tech bubble burst 2001 1.6% 1.75% March peak, Nov. trough (1.0%) Bush tax cut, 9/11 attacks 2002 2.4% 1.25% Expansion (1.7%) War on Terror 2003 1.9% 1.00% Expansion (2.9%) JGTRRA 2004 3.3% 2.25% Expansion (3.8%) 2005 3.4% 4.25% Expansion (3.5%) Katrina, Bankruptcy Act 2006 2.5% 5.25% Expansion (2.9%) 2007 4.1% 4.25% Dec peak (1.9%) Bank crisis 2008 0.1% 0.25% Contraction (-0.1%) Financial crisis 2009 2.7% 0.25% June trough (-2.5%) ARRA 2010 1.5% 0.25% Expansion (2.6%) ACA, Dodd-Frank Act 2011 3.0% 0.25% Expansion (1.6%) Debt ceiling crisis 2012 1.7% 0.25% Expansion (2.2%) 2013 1.5% 0.25% Expansion (1.8%) Government shutdown. Sequestration 2014 0.8% 0.25% Expansion (2.5%) QE ends 2015 0.7% 0.50% Expansion (3.1%) Deflation in oil and gas prices 2016 2.1% 0.75% Expansion (1.7%) 2017 2.1% 1.50% Expansion (2.3%) 2018 1.9% 2.50% Expansion (3.0%) 2019 2.3% 1.75% Expansion (2.2%) 2020 1.4% 0.25% Contraction (-3.4%) COVID-19 2021 7.0% 0.25% Expansion (5.9%) COVID-19 2022 8.3% 3.25% Contraction (-1.6%) As of Sept. 21. 2022 2023 2.7% (est.) 2.8% (est.) Expansion (2.2%) March 2022 projection
ECONOMICS:USIRYYEducation
by UnknownUnicorn2537518
56
ADA - 47% CRASH | Buy here! I am very bearish on specific altcoins such as ADA, XRP, SOL, LUNC, SHIB and much more. Why? Because the charts are terrible and I don't even know why you should buy these overpriced altcoins that will never make you rich. Some gains are possible, but you have to focus on altcoins with low market caps, not these Giants. It's too late for the party. I am not saying these altcoins are bad. These coins are great, but the market cap is too high and whales want to buy them at a cheaper price.  Cardano is in a massive downtrend, basically in a free fall mode, and another 47% drop is likely in my opinion. There is pretty much nothing bullish on this chart; the bulls completely disappeared.  You can buy ADA at 0.1841, at least for a short-term bounce (150% - 300% profit). I will inform you about possible targets next year, so do not miss it and follow me! The price is printing a falling wedge pattern and a descending triangle. As you can see, the bears destroyed the triangle without any problem! From the Elliott Wave perspective, the market structure is insanely bearish and I expect 2 huge impulse waves downward to complete a major ABC correction. The bears are in power and I would not play with them at all cost. We need much more time to recover from this abyss. Look at my ideas about XRP and LUNC in the related section down below. For more analysis, hit "Like" and "Follow"!
Short
by UnknownUnicorn2537518
60
Bitcoin - 2018 vs 2022 I know that bullish analysis on Bitcoin is extremely unpopular at this moment. I can feel it in the comment section of my several previous Bitcoin analysis. The most popular ideas on TradingView are extremely bearish, and the sentiment is very negative and fearful. Pretty much everyone is expecting 13k. In this case, I am not saying the crowd is wrong, because during a fifth impulse wave, the crowd might often be right. The situation is, of course, very different this time compared to 2018, but I have seen a lot of these comparison analyses on Bitcoin, so let's do it. The triangle in 2022 is really weird. It's probably not even a triangle. It looks like an inverse head and shoulders with a steep neckline or a double bottom reversal pattern. Triangles usually appear just before the end of the trend or at the end of the trend. These patterns are, of course, very tricky. There is a possibility of a last scam wick to the downside to 17,600-17,900 before the price explodes to the upside! But I hope the bulls will defend 17611 USDT because it's very important from the Elliott Wave perspective. I hope the bulls will prevent Bitcoin from falling because I don't want a 5-year bear market, I think no one wants it in the crypto community. For more analysis, hit "Like" and "Follow"!
Long
by UnknownUnicorn2537518
154