Sol-nited we stand, Sol-vided we bounce Solana has been undergoing a phase of profit taking causing price to retreat toward this support, after the run up this year.
The run so far, for those who bought the absolute bottom at $8, amounts to a 297% gain, over the past 7 months.
I am watching to see how this support zone holds up and keeping in mind the cloud is forecasting a steep sell off.
Price Action often touches the cloud during a kumo twist. ☁️ 🪢
As always, trade safe!
Runup
Why 54K is the ULTIMATE BOTTOM for BitcoinHello again guys,
as mentioned in my previous post, here is part 2 of today’s analysis on Bitcoin.
To keep it real short: There are 4 indicators coming together showing when and where the next Bitcoin bottom is coming in:
1. The 21 Week EMA (orange rising line)
2. The green rising support line
3. The 0.5 (and 0.618) Fibonacci retracement levels
4. Big support zone (55-50k) from the last Top of February-May
Those 4 indicators are coming together in the next few days to show the ultimate support for bitcoin .
As you can see in my previous post, this can be the last correction before a massive run up .
If you like my analysis, feel free to like this post and comment your thoughts. :)
Have a great day and stay safe!
CAUTION It's pretty common for BTC to have 20-30% corrections in a bull market and has been doing phenomenal with coinciding with previous run-ups.
I believe this is the 4th or 5th correction to this magnitude.
Things look pretty swell from where we came from this year and last and hope it can continue.
We just had a crossing on the weekly MACD and things are looking ripe for maybe another push higher.
RSI on the monthly cart is also declining from overbought territory.
There was a similar run up and fall in price action and when BTC futures started trading on CME compared to the COIN listing recently.
Regardless if you are HODLING forever or just trying to make quick movements in the price action of shitcoins it looks like we are taking a breather and could be something other than a correction.
I'm remaining on the cautious side with everything else thats developing across world markets and in the US.
That's all folks
CCL Broke Key ResistanceWith JNJ news, vaccine giving hope to investors, and another round of stimulus on the way, cyclical travel stocks like CCL should regain strength and continue forward. With good news, and the recent market sell-off due to bond yields, CCL and other value stocks saw a push. We're expecting this to continue, especially with the arise of a new cruise line from the company. The stock also broke a key resistance level from the June run up, at 25. This level held and the stock topped at 28s before falling back to 25 and bouncing - proving that the resistance level has now become a support level. This trend should continue, as there is nothing stopping the stock from moving back up to it's previous highs since this strong supply level was cleared.
Entry at 25-26, PT1 33, PT2 43-45, PT3 (EOY) ATH, SL Below 25
OIL me up What a crazy rally its been for oil since last November.
Just passed the .786 Fib level on the daily based on the highs of Jan 2020 and looks pretty solid growth wise.
Possible it can go to top of channel around 65.
Definitely been good for the OPEC cartel and the USA.
Maybe theres some cracks?
A lot of traders are pricing in a recovery already in travel and based on vaccination roll out (new variants) seems like this might have been jumping the gun a bit.
Ichimoku looks like it about to cross over and the baseline has been acting as support during this rally. How long will it sustain?
Completely over bought on the daily chart and just went into overbought territory on weekly chart as well.
historically OIL and DXY have been inversely correlated since the oil trade around the world is done in the good ol Benjamin.
Curious to see how a decline in prices would affect DXY.
Let's see what you think,
That's all folks.
TGT Channel & ER Run-upRetail hasn’t really been the play in the past couple of weeks but Target $TGT has proven itself to be a strong company throughout this COVID market. $TGT has been following the same strong support line since October, and has been holding the same trend line for the past year. $TGT hit its support on January 28th at the price of $178.01. Since then, it has pushed and closed at $188.86 on Friday February 5th. I alerted a position on Thursday for two 200 call contracts for March 19 expiry. Target has the upwards momentum and can see the levels of $190 then $194 and then a push to $200. Price target set at $200, could see this in the next one to two weeks - above that can run to 210-212 at the top of the channel.
UTX Breaks to the UpsideAfter a month of sideways action, UTX broke to the upside to resume an uptrend. UTX candlesticks lengthened just prior to the run up.
SIEN at key resistanceSIEN has had an amazing run despite negative earnings and is currently showing weakness/indecision at a key level of resistance. Switching to the weekly chart shows nicely where price has tested this level before. The last time it was above it and then came below this level price crashed HARD!
I am bearish on this one... This could mean the momentum is drying out but we all know that shorts can also get trapped! Stay safe out there ;)
Cup and Handle on POA networkPOA network is one of the coins I am post passionate about. Also, I believe will do really well during this next altcoin rally. POA token is attractive to investors because they are a platform token with a brand new consensus mechanism, Proof of Authority. Proof of Authority, or POA puts identity up at stake instead of holdings. since everybody has only one identity, POA is very decentralized when it comes to their validators. Since other platform tokens with old consensus methods are evaluated in the billions, I believe there is huge potential for POA.
Yesterdays volume was the most since the coin ICO. Since the coin went to the upside, I think this is a big indication of a rally. Also, POA is holding its short term gains very well, which shows investors are not eager to sell anytime soon. A cup has formed after yesterdays rally and i believe a handle too.
The Project idea, the Volume, and the teacup pattern all indicate signs of a rally soon. I am hodling POA token for the altcoin rally, lets see where this ride takes us!
OMG/BTC Head & shoulders in the progress. Potential 50%Hello traders!
This is what i found while i took a look in OMG/BTC and it is looking like h&s or at least cup and handle if u wish.
but after all my target is on .786 fib if we break the 0.5 fib!
Alts are back and we sould definetly expect a nice run up everywhere!