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AMD Bounce play!?Hey all, If you look a little bit left on AMD's chart, you'd see that the mid-70s level is very strong support for AMD. Considering my bullish thesis on NVDA over the next month(though I think it will eventually go lower), I think playing a bounce through July is the right move to make. I just took a long position on AMD at $76/share, but it is very possible it goes a little lower before the said bounce. I WARN you guys though, that I'm only playing a bounce, and this is not an investment; I do think AMD will eventually go lower. I think a conservative estimate is that AMD will see the mid-high 80's again, though it is POSSIBLE AMD sees the high of the range it is trading in in the high 90s. Best of luck in your guys' trading!
NASDAQ:AMD
by MichaelEugen1
2
The range we are in. Failed H&S into W. Possible range Break-outHello again! Here's the whole clear picture so far: - We were in a bigger range (20k - 22.5k) - As soon as we lost 20k (bottom of that range) we broke down to 17600 (which is the daily low of 11th December 2020 - the last red day we printed before the beginning of the new bull market. Those numbers are not random. More on that in another post!!) - After breaking down we managed to reclaim the bottom of the range and we've been ranging between 20k and 21.6k with the mid of the range being 20.8k - In fact, 20.8k (the mid of the range) has worked as a pivot point - It first helped the price form a Head & Shoulders pattern, leading everyone into thinking that we will go much lower once we lose 20k (look at green pattern) - However, H&S patterns usually do fake breakdowns just to stop all the longs and trap shorts. Then they reverse. - In fact, H&S breakdown was reclaimed and on top of that we immediately converted the structure into a W bottoming pattern (look at pink pattern) - 21.6k is the "moment of truth" point. Should the price breaks above I can see us teleporting to 22.5k with the power of millions of short squeezes. - 20.8 is a very important price level. It worked as a pivot point and it will show us if we are truly going to break out of this range (20-21.6) and move towards 20.5k or we are going back to 20k, potentially even lower. In other words, 20.8k is your invalidation point. Now look at the daily candle. My guess is that the new day open (25th June) is going to print its lower wick into the 20.8k before we really try to break 21.6k Entry 20.8k. Tight stop loss below this. TP either 21.6k or 22.5k If we lose 20.8 you can short to 20k (or just open long 20.8k and hedge with short at 21.6) Good luck!
FTX:BTCUSDLong
by Athantonios
3
Re-life rally to 30 kBTC had a perfect rebound on the 200-week SMMA, as mentioned before never BTC closed a week below this metric. RSI is very oversold and I think we can have a quick rally up to 30 k where we find resistance from the trend line. this feels like the bottom to me, but with so many bearish catalysts ( Luna crash, Celsius, fed interests rates, Ukrainian war, etc) we can not disclose BTC going to 14 k in the near future has historically BTC retraces about 85 % from the ATH
COINBASE:BTCUSDLong
by Roberto411
1
Incoming Bear Market RallyLocal bottom was found exactly on the 3D lows of the 2020 consolidation (before the breaking of the old ATH) Today's daily candle has made higher lows, higher highs and is a bullish engulf candle. On top of that the close was exactly over the daily resistance of 20400 (coincidence?) Also MACD shows the local bottom is very likely to be in and we're now preparing for a rally which will -at least- reset MACD (maybe put it in the positives). Weekly has also closed with a wick above the "pre-breakout" 2020 area (17600-19440) Here's my idea: We're preparing for a massive bear market rally. -- We will break low TF support of 20200 and deep lower (somewhere around 18800 and 19450) to scare all longs and force people to close positions + open shorts -- We will then rally towards either 22500 or 28800 (depending on how we do on the first resistance) Why this could happen: -- Next FOMC minutes is 6th of July -- Next CPI report is 13th of July Plenty of time to FOMO people into thinking the bear market is over and make money both ways (long to 28, short back down) This will end around the beginning of July. After CPI report we'll see Good Luck! p.s. keep the prices marked below 18k. We might not see them soon but we will see some of them :)
FTX:BTCUSDLong
by Athantonios
4
BTCUSDT - Are we about to see an explosive rally?Check the above chart. Couple points to consider: 1) The massive falling wedge forming 2) RSI bullish divergence and RSI crossing 50 3) How close the bollinger bands are. Look at the circled red lines, they are copies of themselves. Last time the bands where this close BTC rallied 250%! 4) Market sentiment and fear. Everybody is waiting for lower prices and after the LUNA fiasco the fear in the crypto space is at all time high. (BTC fear and greed hovering around 10-17 for the past month) 5) Wallets like this bitinfocharts.com (Whale accumulation...) Ciao
Long
by unknownpower
Nasdaq Elliott Waves continued.Sorry about this delay, but I am in the middle of a warzone. Anyway, nothing much changed on the elliottwave count other than the fact that the B of C seems to be developing into an expanded flat. My guy feeling is that we have bottomed (too many bears around) and we are poised for a massive flash rally back to, either : 15500/16000 or ATH's (All Time Highs. This would conclude the Cycle B and we can get into a serious bear market. No crashes, if you are counting on that stop dreaming, crashes don't come about like that.
TVC:NDQLong
by csmottola71
Relief Rally?Hello Traders, I will get straight to the point today. It looks like a bit of a reversal, or is it a bear market relief rally? What I'm looking at: If price moves above around 408.80-409.5 and keeps momentum, watch out for a gap up around 412. This is likely a relief rally, and we are probably just reverting to back to the trend because we were QUITE a bit oversold, but we are seeing a low volume move upward. Like I said before to those who follow me here and elsewhere, the downtrend is weakening, but lets not get ahead of ourselves. This isn't like after COVID hit or March '09 (the month the Bull market was reborn), we LIKELY won't have a recovery like that without a catalyst (i.e. Ukraine war end, steep inflation drop, steep oil demand decline/supply increase -aka priced too high/Saudi production increase). Technically speaking, we're hitting a small supply zone around 406 it might push back down a little then move upward to keep the trend pattern going. Around 410.90 another Supply zone on the chart. We don't hit the big ones until 417+ but I don't think it's likely we'll make it up that far. I'm getting a little ahead in this prediction, but this is for preparation for my followers or anyone who needs a little guidance. Cheers, Mike (UPRIGHT Trading)
AMEX:SPY
by UPRIGHTTrading
BTC broke the neckline.I’m sorry for the people who lost much of their money. But what to expect now? there is a possibility that we will now see a small rally back to the neckline, we will then test that point (≈33500$) to see if it serves as resistance. Yesterday we did this same process with the SPX, and it's not looking very good yet. Of course I'm not a fortune teller either, but please beware. For some suggestions on what's important not to forget, take a look at the 'related ideas'. I wish you the best! This is not financial advice. Please leave a comment if you have any questions. BITSTAMP:BTCUSD
BITSTAMP:BTCUSDShort
by StijndeVries
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NASDAQ:SOFILong
by SimplyShowMeTheMoney
4