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Bitcoin(BTC/USD) Daily Chart Analysis For Week of Dec 15, 2023Technical Analysis and Outlook: Throughout this week's trading session, Bitcoin has been trading within a specific range, defined by two fundamental values: the Completed Outer Coin Rally 44500 and Mean Res 44100. This range has created a level of stability in the market and has allowed for some predictability in the short term. The market is on an upward trend that is expected to continue. Bitcoin is projected to reach the newly established intermediary Mean Res 43100 and surpass it in the coming days. In a downturn, the intermediate target is the robust Mean Sup 41200. This is a crucial level for traders to watch, representing a solid support level for Bitcoin.
BITSTAMP:BTCUSD
by TradeSelecter
BITCOIN - Very likely to go down from hereBitcoin is making its final move to the upside, possibly reaching 48k, but it's a gamble. The altcoin market is experiencing its last pump, aiming to drive the Fear and Greed Index into the 80s. BTC has been on the rise for 90 days now, typically signaling that the top is approaching. Bitcoin tends to follow a 60-90 day pattern; it doesn't have to be precisely 60 days to indicate a bottom or top, but it's generally within this range. Anticipate Bitcoin reaching a bottom between 60-90 days after the top of this rally. A correction of 20-30% is likely, potentially bringing Bitcoin's price to around 35-32k. While nothing is 100% certain, calculating time frames like this is crucial and often proves effective. Visit TradingView and see for yourself. Previous cycles also tested the 50% zone, rejecting it 1-2 weeks later; this may recur. The current 50% level is around 42k. A close below this would be negative for BTC.
INDEX:BTCUSDShort
by WealthNode
S&P 500 Daily Chart Analysis For Week of Dec 8, 2023Technical Analysis and Outlook: Throughout the course of this week's trading session, the index remained relatively stable using our strong Mean Sup 4546 as a strategic price platform, notwithstanding moderate gains leading toward the Key Resistance of 4639 and Inner Index Rally of 4647. Moreover, the Inner Index Rally 4647 indicates a strong bullish trend for traders and investors to ponder. Once the market reaches the target price, the resulting squeeze could be substantial and chaotic. As a result, traders and investors should be cautious and attentive during this price action period.
SP:SPX
by TradeSelecter
EUR/USD Daily Chart Analysis For Week of Dec 8, 2023Technical Analysis and Outlook: Last week's completion of our Inner Currency Rally of 1.099 continued to drop to strategic Mean Sup 1.084 and is on its way to a significant Mean Sup 1.067 and Inner Currency Dip 1.068 outcome. The current price action suggests a rebound from the letter prices to the designated target Mean Res 1.080. Overall, it is essential to closely monitor the Eurodollar market trend and take appropriate measures within critical price action of the support/resistance and dip result.
by TradeSelecter
Bitcoin(BTC/USD) Daily Chart Analysis For Week of Dec 8, 2023Technical Analysis and Outlook: Bitcoin has completed our three consecutive Outer Coin Rallies 39200, 41200, and 43700 in this week's trading. On the downside, the intermediate down target is Mean Sup 43100. The subsequent squeeze will likely be Mean Sup 41500. The upside price movement is expected to be aggressive and intense, as the market sentiment is tilted towards bullishness. The market participants will likely be actively buying, leading to a surge in demand for the asset pushing the price higher. However, it is essential to note that the market is volatile and subject to sudden changes, so investors should remain cautious and closely monitor the support and rally outcome price targets.
BITSTAMP:BTCUSD
by TradeSelecter
AUDUSD Bearish move to continueThe Aussie dollar has been going down against the US dollar for the past few days. This is because the US dollar is getting stronger and the Aussie dollar is getting weaker. The Reserve Bank of Australia (RBA) kept interest rates the same at their last meeting, but the market expects interest rates to be cut in the second half of 2024. The US dollar has been strong recently, even though US data has been mixed. The number of job openings was lower than expected, but the ISM Services PMI rose to 52.7 in November, which was higher than expected. US yields dropped after the data was released, but the US dollar remained strong. More employment data will be released from the US this week, including the ADP report, the weekly Jobless Claims, and the Nonfarm Payrolls (NFP) release. Overall, we are expecting a further drop from AUDUSD, and the NFP release on Friday will either push that drop or generate a pullback, and then the drop will resume the following week, we will see... Please feel free to share comments about this analysis and your point of view, thank you all, and trade with care!
Short
by financialflagship
S&P 500 Daily Chart Analysis For Week of Dec 1, 2023Technical Analysis and Outlook: The Spooz index in this week's trading session retested our completed Inner Index Rally 4590 of July 27, 2023, and is moving higher, targeting the Key Res 4630 and Inner Index Rally 4647, respectively. Once the market successfully achieves this target price, the follow-up squeeze will likely be significant and turbulent. Traders and investors should, therefore, be prudent and vigilant during this price action phase.
SP:SPX
by TradeSelecter
EUR/USD Daily Chart Analysis For Week of Dec 1, 2023Technical Analysis and Outlook: After completing our designated Inner Currency Rally 1.099 target this week's session, the Eurodollar performed as flagged in our EUR/USD Daily Chart Analysis for Nov 24 by dropping it to a primary pivotal squeeze to Mean Sup 1.087. The current price action suggests a dead-cat bounce to Mean Res 1.092 with a potential rise to retest the completed Inner Currency Rally 1.099 with a follow-through squeeze.
by TradeSelecter
"BULL MARKETS ARE BORN ON PESSIMISM"Did you come across several media reports, individuals and others betting on the crash of US economy and how everything will collapse. Here is a quote by Sir John Templeton - "bull markets are born on pessimism, grown on skepticism, mature on optimism and die on euphoria". So one can understand with the growing amount of pessimism all around as to which phase of the bull market we are in - yes, just the beginning. The S&P Real Estate weekly chart shows the impulse move up (through march 2020 to dec 2021) and a subsequent 70% retracement(through dec 2021-oct 2023) of the same. The index has now just completed a complex triple three correction (WXYXZ) and is all set to move up from here. The index could double from the current levels in the coming 2-3 years time. Note*- this is not an investment advice, please do your own research before making any investment decisions.
SP:S5REASLong
by neeraj_2_sharma
$DHI Supercycle Nearing CompletionThe stock is expected to complete its final move to Wave 5 of (V) before undergoing a significant correction, constituting a substantial correction in my view. My extended target for the upward trend is $143, with plans to consider short positions thereafter. The recent upward movement appears to be forming a rising wedge, adding to the overall wedgy appearance. The RSI shows a substantial bearish divergence since the completion of Wave III, signaling that Wave V is still underway. While the situation evolves, my current stance is to maintain a long position.
NYSE:DHIShort
by nomadhedge
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