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BTCUSD BTFNX thoughtsI would like what currently I'm scared of on current graphics. Let's start with indicators analysis. As for me, I see a pretty good perspective for a BTC price. Currently, AO, MACD, Stoch RSI and RSI are awesome, I mean due to a daily chart all of them show that we can expect growth. Might be this could be confirmation that soon we will see the second shoulder and downtrend, but weekly charts are also good, due to indicators AO, MACD, Stoch RSI, and RSI are positive, also there is a huge bullish divergence on weekly MACD formed from 22 Jan 2018 with the first extremum on 14 Apr 2018 and second on 18 Jun 2018. But we have to be aware of the H&S pattern which is rather a strong pattern, due to indicators I'm 75% sure that we will see growth to the second shoulder. Soon we will see growth confirmation or the H&S, so be careful with it, and do not forget to set stop. As for me, I see a good perspective for a growth, let's say that I don't believe in a rapid growth, but I believe in a couple month growth. Due to the news, we have to expect good news in a couple of months ahead. Starting with CBOE BTC ETF verdict on 30th September, Nasdaq is about to add crypto trading on Gemini architecture in the second quarter, Intercontinental Exchange (ICE), who own NYSE said that they are working on a BAKKT platform for exchange crypto for USD and BAKKT will be fully regulated. All of this is just a tip of an iceberg, lots of new positive updates are coming. Few words about crypto regulation in the USA. So, I don't think that people who work at the ICE, Nasdaq and other companies who work in a crypto sector are that stupid to invest that kind of money and not be sure that everything is going to be ok) I expect for a good perspective for a crypto in upcoming months. BTW I think current problems around crypto in the USA because of low volume on BTC futures.
BITFINEX:BTCUSDLong
by pmktyn
CT overbought. Looking for sideways to take a breatherTechnically overbought. New highs made with declining volume. Not an indicator for continued strength. Overall uptrend is intact, but we are near upper end of trend channel. On top of that market is overbought based on BB, RSI and Stochastik. Targets: 1. Middle bollinger Band 2.Upsloping red shorter term trendline 3. Longer term red trend line, and 100 day MA and lower BB (all similar area). --> big support 4. 200 day MA (yellow)
C
by mjhillpp
1
OPEC meeting, breakout of triangleMarket has been narrowing awaiting the OPEC meeting. Trading volume has declined going into tighter trading ranges (red triangle). This is a great example for a symmetric triangle. Breakout direction to be determined. Also, the greater picture shows a slowing uptrend leading into a very long term triangle. Patience is required. My bias would be leading to the downside breakout following the OPEC meeting, but I will wait and see. Either way once braking out I am looking into getting into some short put or call spreads depending on direction
TVC:USOIL
by mjhillpp
1
Things point to 140 for now (2nd month continuation)Looks down to the 140 area for a test. However as long as the orange or blue trends hold, the upwards trend is still intact IMHO. short call spreads above 165 in Dec or January might be a good idea. I would buy any puts as downside seems limited for the moment and option volatility might decline during a sell off diminishing returns on long option strategies. 1x2 put spreads 10 to 15 cents wide for flat selling the 2 buying one over two month could be good IMHO
KShort
by mjhillpp
2
Still waiting, beware bulls; risk reward not so greatPro Long (Chart): - RSI and Stochastik created buy signal - Orange support line Pro Long (Physical): - ICE warehouse stocks new lows - spreads tightening ever so slightly Contra (Chart): - still in middle to upper end of trend channel - room to go in terms of lower Bollinger band - long term trend still down - risk/reward for long position not there IMHO I start looking into selling put spreads out in August or September. For example the U16 110/100 p spread. Due to the negative put skew, 1x2s also work great IMHO (selling the one buying the 2s are also an interesting idea).
K
by mjhillpp
Weighted Basket of 5 Agri Commoditeis - Hyperinflation Coming*EDIT in text quote on left of chart - *Synchronicity in between I have created an equally weighted portfolio of 5 sustenance based commodities including Soybean, Soybean Oil, Sugar, Wheat, and Maize (continuous fwd contracts). This is an update to the first chart I have published (rough rice) which isn't updating for some reason but if you see the RR1! graph on another website you will see that my analysis is 100% on point so far and even identifies exact msp level prior to breakout. I am expecting sustenance based commodity hyperinflation in the coming years as we enter a macroeconomic environment that the economics textbooks have never described. The money manager commitment data points to breakout, technicals show clear range suppression and evident accumulation pointing to impeding breakout. Global trade statistics are abysmal, statistics of subprime/consumer debt/corporate debt delinquencies are abysmal, PE ratios of leading equity markets are abysmal. I do not wish for this to happen because this will affect billions of people but this is most likely what is going to happen. Best of luck.
BLong
by RahulAndra
9