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I REALLY LIKE BITCOIN'S STRUCTURE But what we need to see first?As you can see, the beast has awakened in recent days, and the mother of all cryptocurrencies is back. It’s crucial to use Bitcoin’s analysis as a base because it’s the crypto that drives the entire cryptocurrency market in general. So, rest assured, if Bitcoin wakes up, the crypto market will be alive! The Beast has awakened, and we are very close to $70,000. The key lies in two very important points that I will highlight in yellow on the chart. Point 1 (P1): VOLUMETRIC CANDLE. The impulse of the volumetric candle that gave the price its bullish strength—these types of candles are the fuel that the price needs to propel itself and reach new highs. Point 2 (P2): DIVERGENCE. If we look at the two EMAs (8 and 21), they are very extended. I use these EMAs as a reference to confirm there’s strength in the price. Whenever these two EMAs start to widen from each other, it's when the price begins to make a decision and show strength to either continue its trend or maintain momentum. But hold on! Don’t celebrate just yet. To reach the All-Time High, we’re likely to see one or two pullbacks first. It all depends on the volatility we’ll see in the coming days. Our short-term goal is for BTC to reach $70,000, and after hitting that target, we’ll be very close to seeing BTC surpass its all-time high once again. In my personal opinion, I think the most difficult stage for Bitcoin is not reaching $70,000, but surpassing $71,800 level Let’s see what the week has in store for us. Thank you for supporting my analysis.
COINBASE:BTCUSD
by RocketMike111
Palantir Validated a Liquidity Zone, Whats Next? If you saw my previous structural analysis, I had mentioned that Palantir was going to hit an institutional liquidity zone, and for the first time in several years, using common sense, the price was going to face rejection. And that’s exactly what happened... The price hit my point of interest and dropped for 3 days. However, the last candle with which we closed the week was green and had enough volume. Why is this? If we can see 2 candles before the close, we can detect a trap that created a long wick downward, preventing the price from falling further. That’s the detail we're seeing before the week’s close—the last candle was bullish. We also can’t ignore that Palantir is only about 2 weeks away from its earnings report. So, I don’t think the price will make a decisive move just yet, and even if it falls further, it would likely be around 38.50. However, the earnings strategy that traders are waiting for, where Palantir accumulates and begins to rise, is very close. So, we need to be very alert as we approach its earnings report on November 4th. Best regards, and thank you for supporting my analysis.
P
by RocketMike111
Google Still Bullish but nothing to see yet till Earnings ReportGoogle is clinging to this stagnant channel (yellow color), but the question is: Could this be an accumulation before their earnings report? We are one week away from Google's earnings report, and I have a feeling that the price will simply continue to trade within the same range until a few days before the report. Let's say on Friday or Monday, we may see a strong and sudden move. This is due to the "insiders," those privileged individuals within the company who hold positions and know what the price movement will be on the day of the report based on information they can access before the expected date. We just need to keep in mind that we are still in a congested sideways channel, and this channel may expand as the days leading up to the report approach. There's really not much to see with Google at the moment. Best regards, and thank you for supporting my analysis.
NASDAQ:GOOGL
by RocketMike111
2
NVDA we ended the week with an Inside Candle What this means?Nvidia NOTE: We closed the week with an "inside candle" as the last candle. What does this mean? Last week, we analyzed the price movement, basing it on the idea that with strong momentum and divergence, the price could continue upward. However, for it to reach the point of interest, the price needed to make its natural retracement. And that’s exactly what happened (I can hardly believe it myself). The objective was met, and the price reached our highest point of interest. The issue here is that Nvidia still has a long way to go before it can make that bullish push! The week closed with an "inside candle," or what some refer to as a "pregnant candle" (don't blame me, that's what they call it). This type of candle pattern is bearish because it's when a candle loses momentum and starts to change direction. And it's quite obvious—if you can see, my point of interest comes from none other than an institutional liquidity zone. The price may start to struggle in this area, but that doesn’t mean it will fall drastically. No! Let me explain: NVDA has been coming with a lot of strength since last week, and upon reaching an area where the price has historically retraced, it’s clear that this zone is like a swamp. The price will face the challenge of getting out of this swamp. So... The price comes in strong, touches an institutional zone, pauses, and starts forming bearish candle patterns. What is the price telling you? To wait! The price will most likely make a retracement but will create a range where it will try 1, 2, 3 times or more to break out of this swampy area. What should we be watching for? 1. Strong volume, and 2. A ranging channel fluctuating between supply and demand, which is essentially accumulating for the next push. In the meantime, we’ll see what movement happens next week. Best regards, and thank you for supporting my analysis.
NASDAQ:NVDA
by RocketMike111
2
SPY Loosing Momentum ! SPYLOVERS DONT PANIC ! Its OKAfter several weeks of analysis, the price reached its all-time highs twice, creating a new extreme. Att his moment is what i call in a no man's land zone. But what do I see in the overall structure? If you can clearly identify the yellow upward channel, I want you to split it in half, and we will analyze the two parts. In the first half, we have an active price movement, with clear fluctuations between support and resistance. The high volatility causes the price to move in waves, perfectly respecting support and resistance. But if you can manage to identify the second half, up until the end of the channel, you'll see that the price shows signs of exhaustion. Exhaustion, how? When the price stops having that volatility everyone is looking for, and begins to slow down and starts moving like a worm along the edge of the channel’s support, showing small candles and, above all, losing momentum. (In the chart, I want you to identify the price exhaustion by marking it with a small symbol of a worm crawling along the channel's support.) This type of behavior happens frequently when the price is losing momentum. In this type of scenario, I am more than certain that we will soon see a move where the price might break out of the yellow channel. Most likely, we will see the price make its natural retracement. After achieving two all-time highs, I believe it's time for the price to take a break, either to consolidate or make a quick decision. Nevertheless, I am expecting the price to make its natural pullback in the coming week. We’ll see if it happens. Best regards, and thank you for supporting my analysis.
AMEX:SPY
by RocketMike111