We have Clear selling trend So we have LH HL
So we starting a downtrend
if we can get a 3rd low higher
the trend could be set and
looking to a projection
of 128/125
Sellinginterest
Hitting the sell intersection on the SP500!Selling here with a sell stop on a break above the intersection.
Thoughts?
Despite Latest Rally Attempt - SP500 Still Primary BearishThis huge jump to the upside is still registering as a bullish move in a primary bearish trend.
This move to the upside is likely a 4th wave of 5 to make up wave A of a 5-3-5 Zig Zag correction.
Look for selling interest to return as price zeros in on the next couple Fibonacci levels. This should start wave 5 to complete wave A.
This is a weekly chart, so a long term correction should be in order.
Thoughts?
Beware of The Divergence in $BTCSelling interest likely to stay near the 61.8% level on the divergence.
Thoughts?
Despite the Monday jump, bears still control primary trend.I like seeing a rally to start the week, but so far there is not enough evidence yet to break key resistance.
Selling interest should come in here near the previous low that was once support, but now is resistance.
Until key resistance is taken out, the $2800 target is still in play (the target is marked with arrows).
$3120 still next key support target for $BTCUSDWith the price hitting the 61.8% Fibonacci extension level as resistance and sellers coming back to the market, the $3120 traget is still in play.
Internal momentum is to the downside with an ADX showing strength for trend. Look for selling interest to continue.
Thoughts?
Despite Price Drop BTC Should Hold SupportThe week is starting off with some selling interest as price drops to the top black trend line, which should remain as key support.
There is also another near-term blue-dotted trend line that intersects where buyers are likely to be found. The RSI dropped lower, but remains inside the green bullish zone going forward. As the intersection of the two trend lines holds as support, the RSI support level should hold too.
A break lower here would not be good for the bulls, but patterns show that despite the drop in price to start the week, the bulls still hold a slight control.
Thoughts?
XRP likely to see more profit-taking this weekPrice broke lower bearish trend line resistance and rallied higher last week. The upside target for the breakout (marked with black arrows) hit and found selling interest, or likely profit-taking near the objective. Selling interest also came in as the next upper red bearish trend line was tested.
Price is slipping lower and is likely to test the red 61.8% Fibonacci level (.4695) as support this week. Indicators show this level holding if tested, but if momentum starts to switch back to the bears while price approaches the golden ratio, look for a drop all the way back to the breakout point or support 2.
Weekly S/R
Critical Resistance: $0.7972
Key Resistance: $0.6125
Key Support: $0.4695
Critical Support: $0.3171
Primary Bearish Trend for BTC ContinuesAfter the market tried to rally and stalled into 50% resistance ($6,764), the pattern painted a bullish correction in an overall bearish market picture.
The price touched the 50% retracement level last week and found selling interest. As price moved higher the ADX, which measures trend momentum, slipped lower. A weakening trend as price rises is a divergence to say price should stall out. So far this is happening and selling interest should continue this week. The resistance zone of the 50%, the 61.8%, and the red trend line price levels should hold any rally attempts.
Look for the primary bearish trend to persist.
Weekly S/R
Critical Resistance: $6,921.40
Key Resistance: $6,764.60
Key Support: $6,596.61
Critical Support: $6,100.00
