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Correctionalmostdone

US 30 ?Fake Breakout: Volume not ConfirmingToday's 400pt lift in Dow was unconfirmed by volume which declined as price rose. VOLUME DIVERGENCE violates basic Dow Theory: The session volume in each day's trading reveals nearly all the session volume was traded before the thin air lift at the end of day. A move against trend must be confirmed by increasing volume to be a true trend change, else it is merely a countertrend movement. Expect this rally to fail and return to consolidate around price rotation area. Failure will likely lead to capitulation & panic-selling break down. I could be wrong, but I'm buying a single put Wednesday to test my theory! This is not investment advice, trade at your own risk and good luck!
DJ:DJIShort
by DaddySawbucks
2
Which SUPPORT will bounce???? The TA of BTC is showing three possible support lines and the question is when will the bounce come and which support??? Right now the downtrend is looking like the first resistance is around 8400. If it breaks then head upwards. If it hits the resistance and heads down it is more likely that is will find the next support toward 7800-7900. Then if it will break that support next is the 23% Fibonacci Ret support around 7400 which is the most likely! Should it bounce well and good and if not more correction will follow and the next support will be around the 7000 area! Bouncing off the last support #btc should bounce and then head upwards and this will be when the crypto market will be bullish and new money will start to come in and confidence will start restoring gradually with new money pourring in from FIAT. Cryptocurencies are here to stay! BTC will prevail!!!
Long
by glennie81