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AMD to $10 - bearish divergenceOn the above 2-month chart price action has appreciated 8500% since September 2015. A number of reasons now exist to be bearish. Side note: Timing the market tops or bottoms is not my forte. Instead, these large time frame ideas are an attempt to measure the probability of continued trend versus risk. Why bearish? 1) The ‘incredible sell’ signal prints. On a 2-month chart! This is a bubble. A large bubble. In fact, if you got a moment, it's a twelve-storey bubble with a magnificent entrance hall, carpeting throughout, 24-hour portage, and an enormous sign on the roof, saying 'This Is a Large bubble’. A large bubble requires a large plan. 2) Regular bearish divergence. A number of oscillators are printing bearish divergence with the recent higher high in price action. 3) The upper trend line resistance. Pay attention to this one, look left. Only twice before has price action reacted so strongly to this resistance, once in 84 and again in 2000. Will this time be different? It’s a heck of risk to take! 4) Stochastic RSI tests 40 and rejects. (Purple circles). Look left, the last time this happened a 80% correction followed. Why $10? Well that’s going back to point 3. On the previous two occasions price action confirmed resistance. A correction to the Fibonacci 0.618 golden ratio was then observed. The ratio currently prints around $10. Is it possible price action moves higher? For sure. Who knows where the top is. Is it probable? No. The probability of continued upside is now <10% versus a high risk of downside. Good luck! Ww
NASDAQ:AMDShort
by without_worries
224
SPY ETF Analysis: Patience is KeyCurrently, the SPY ETF shows an upward trend in both the long and short term, without clear signs of weakness. The current short-term trend leg seems strong enough to reach higher targets, especially due to the lack of significant resistances, except for round numbers that act as psychological barriers. However, we must consider the maturity of this trend. Prolonged trends can be vulnerable to corrections, which might threaten the continuity of the current rise. Moreover, the overall market scenario is not entirely favorable, with other important ETFs like QQQ, DIA, and IWM showing mixed signals. For instance, the DIA is showing weakness and might be starting a reversal, while the IWM is no longer in an uptrend. For those looking to buy, it's important to take minimal risks and aim for shorter targets since the trend, although still upward, has reached a dangerous stage. Holding large positions or expecting prolonged movements may not be wise at this moment. Any sign of weakness, such as the current short-term trend leg failing to reach higher targets, should be a reason to exit positions or reduce exposure. On the other hand, for those thinking of selling or taking advantage of a possible decline, it’s prudent to wait for the first signs of weakness in the uptrend before starting to build positions, keeping them light and taking more risk only when there is a confirmed trend change. In conclusion, patience and caution are essential now. It’s better to avoid medium trades and focus on low-risk positions until the market shows clearer direction signals. Better opportunities will come, so stay calm and avoid significant risks. What do you think of this analysis? Leave your comment below and share your perspectives on SPY!
AMEX:SPY
by LuccasChartRoom
Bitcoin Pre-Halving bull run from Jan 2023Hello Everyone, I want to share this amazing thesis that I found on the Bitcoin chart. Everything is on the chart but I want to clear some insights about this. First of all, all Bitcoin bullish cycles have two sub-cycles: pre and post-halving sub-cycles. I believe the bottom is NOT in yet but we are close to that and it will be clear before Dec 2022 and the Pre-halving phase will begin from Jan 2023. Let's take a closer look at previous bullish cycles. The first halving event occurred on the 28th of November, 2012. Bitcoin had a pre-halving bull run from the bottom which took 378 days and it pumped more than 522%. The second halving event occurred on the 9th of July, 2016. Bitcoin had the same pre-halving bull run from the bottom which took 539 days and it pumped more than 300%. The third halving event occurred on the 11th of May, 2020. Bitcoin had almost the same pre-halving phase which took 518 days and it pumped more than 200%. During this phase, the black swan event happened which was COVID-19 crash and I ignored this because it was unexpected. According to previous bull cycles, we can conclude Bitcoin will find the bottom in Q4 2022 and from there the pre-halving phase will begin and it lasts until fourth halving on 03 May 2024 which will be almost 478-540 days from the bottom. The bottom will be somewhere between $10k and $16k, No one knows the exact price but you can start DCAing below $16k (if we get there). The post-halving phase will take Bitcoin to new territory and I think it will be somewhere between $100k and $200k in 2025. Be patient and have your own plan. Trade safe. If you found this info useful, please share it with your friends, and don't forget to hit the boost button and follow me ;) Thanks.
INDEX:BTCUSD
by ir0nhand
2
Chainlink investment technicalsThe cycle low consolidation located atop the golden ratio of the primary cycle indicates a new cycle, after a similar pattern to last (2018-2019) The new cycle is on track with last (2019-2020) with a potential for breakout indicated by market structure.. Bitcoin is coming to 60% of the market, meanwhile massive altcoins stay at relatively lower market capitalization relative to bitcoin. (keep in mind bitcoin is at ATH now and above important moving averages)
COINBASE:LINKUSDLong
by accumulationdistribution
2
Bitcoin is Bearish or Bullish?To analyze the INDEX:BTCUSD Bitcoin to USD (BTC/USD) chart using the ICT style, we focus on the following key points and concepts: 1. Overall Trend Observation: The chart shows that Bitcoin's price has been in an upward trend starting from October 2023 and continuing until June 2024. Currently, a slight decline in the price is observed. 2. Liquidity Zones : - **Buy-Side Liquidity**: At higher levels (strong resistances), there are buy-side liquidity zones that can be considered as targets for an upward move. These zones include around $72,500, which is seen as a major resistance level. - **Sell-Side Liquidity**: At lower levels (strong supports), there are sell-side liquidity zones. These zones include around $60,000 and $55,000, which are seen as strong support levels. 3. Order Blocks : - **Bullish Order Block**: There is a bullish order block in the area of $63,000 to $64,000, indicating buying interest in this zone. - **Bearish Order Block**: If the price moves to lower levels, the bearish order block around $55,000 could be a significant area for a price reversal. 4. Fair Value Gaps (FVG): - If the price continues to drop, there might be fair value gaps between $60,000 and $62,000 that could be filled. 5. Volume Analysis: - Increasing volume during price rises confirms the upward trend. - Decreasing volume during price drops can indicate seller weakness and increase the likelihood of a price reversal from support levels. 6. Key Levels to Watch: - **Support**: $60,000 and $55,000 act as key support levels. - **Resistance**: $70,000 and $72,500 act as key resistance levels. Conclusion: According to the ICT analysis, Bitcoin is in an overall upward trend but has recently seen a price drop. The price might move towards lower support levels before potentially reversing. Monitoring trading volume and price behavior near key liquidity zones, order blocks, and fair value gaps can provide good guidance for trading decisions.
INDEX:BTCUSD
by Pedi_wxe
NU Trading Plan - 9/Jun/2024Hello Traders, Hope you all are doing good!! I expect NU to react from the highlighted zones. Currently NU is in bigger correction & I am still seeing the potential bigger move towards upside. Plan to Trade: If market starts to correct from current levels upside and hit the highlighted zone, then short term sells are possible. 0.605 will be the area where I will start to look for my BUYs. Look for your BUY entry setups as per the above expectations. Your follow and like will be a token of appreciation. Disclaimer: This is just an idea. Please do your own analysis before opening a position. Always use SL & proper risk management. Market can evolve anytime, hence, always do your analysis and learn trade management before following any idea.
Long
by For3xScalper