BLK lifting into new ATHs, 980 and beyondPreparing for next earnings
900 soon
Possible ATH by next Earnings on 4/12
Preparing for 1000 after Earnings.
BLQA trade ideas
Financial Titans Stocks: Macro Fib SchematicsThese are the largest financial institutions in the world. BlackRock, BlackStone, State Street Corporation, American Express Company. CME Group, NY Bank of Mellon Corporation, and Vangaurd. This is not a Bank Sector Idea. This is a Financial Conglomerate type of idea rather than individual banks. Because these companies realistically OWN the banks.
BlackRock, State Street, and Vanguard are the main three who own most of the stocks and therefore many percentages of tons companies.
-The "Dot Com" means they were formed from the Dot Com Bubble.
-The Collapse of the Bretton Woods System was in 1973. This is where we switched from a gold standard to the dollar standard.
-Black Monday of 1987 was a global market crash which was blamed on Computer Algorithms... HINT HINT: What you are looking at. "algorithms don't describe it well enough.
Chart Patterns (Lesson 1)~ The Misleading Rising Wedge The Misleading Rising Wedge on Ethereum
Over the past few weeks a prominent trader who I admire has been adamant about Ethereum forming Rising Wedge, which is a bearish reversal pattern. I disagreed with this view but acknowledged the concern raised as any reasonable trader would. However, It caused me a bit discomfort as I have a large position in Ethereum since 2022 BUT I stuck to my guns and held my position.
Folks, this wedge caused me enough discomfort that I needed to dig a little deeper on it and what I found is surprising to say the least. So lets have a look at THE WEDGE.
What is a Wedge Formation?
“Wedges are clearly defined patterns of converging price trend, pointed sharply up or down; they forecast a reversal of the trend which forms them”.
From Richard Schabacker - Technical Analysis and Stock Market profits.
The Rising Wedge will have slightly higher highs and higher lows compressing into an upward leaning point. The Rising Wedge is typically viewed as a bearish reversal pattern as it demonstrates waning price action with smaller thrusts and smaller declines showing a potential exhaustion of price action followed by a sweeping reversal.
The Ethereum Dilemma
On the 4th December 2023 I shared the below picture to illustrate a dilemma, was price forming a Rising Wedge (Bearish Pattern) or an Ascending Triangle (Bullish Pattern)?
Turns out either way it’s not necessarily bearish as a Rising Wedge can continue in an upwards trajectory and breakout to the upside. I have found 4 examples of bullish Rising Wedges that are recent or relevant, I tried my best to find similar price action and structure also.
The four Rising Wedges in the main chart above have a few characteristics that give them an upwards breakout plausibility;
1. Most importantly the On Balance Volume (OBV) indicator is rising. Increasing volume helps the plausibility of continued upwards momentum, whilst decreasing volume would warrant caution of a possible breakdown and reversal of price direction. Remember the Rising Wedge is defined by waning and exhaustive price action (smaller thrusts and declines compressing to a point) and declining volume is suggestive of such exhaustion/lack of interest.
- Going forward we should carefully monitor the volume on Ethereum as Schabacker does warn of false break outs and false break downs in Wedges. In the event volume starts to decline, breaking its trendline or taking out recent lows, this could be an early warning sign that we need to reduce position size and prepare to exit. Just something to keep in mind.
- The volume on Bitcoin and Ethereum for the Rising Wedge bullish thesis is a little rocky compared to the BlackRock and Ultratech charts volume which both have more consistent upward volume pressure. Just another observation.
2. All four charts have a 200 weekly moving average that is slopping upwards with price above it or price eventually establishing above the 200 week.
3. Each target is a measured move by taking the widest two touch points on the thickest side of the wedge and placing that length of width at the breakout point to establish the target (red arrows on charts).
4. The top two charts (BlackRock and Ultratech) show that price struggled once it met the prior all time high. These were stiff resistance areas for price either in the wedge or immediately the wedge for 21 – 26 weeks of consolidation price action.
- In the event this happens with CRYPTOCAP:ETH , we could see significant resistance at $4,600 (All Time High) for a period of 20 odd weeks or something similar. We could at minimum expect resistance at this level as wedges identified illustrate this is a possibility.
5. Another clear pattern on all four Rising Wedges is that prior to wedge formation, the price reached an All Time High, then significantly declined to form the base of the newly forming wedge. I would also argue that the compression or underside angle in all four charts is to a greater degree than the compression from the ceiling forming on the wedge. I realize this is open to your perception, but that’s how I see each charts pattern.
We are now aware that Rising Wedges can be bullish formations and that increasing volume contributes positively towards the possibility of a break to the upside. You might still be wondering…which was Ethereum an Ascending Triangle or a Rising Wedge.
Let’s ask Schabacker....
I would argue that Schabacker’s description below may indicate that Ethereum was in in fact forming an Ascending Triangle.
Schabacker advises under the heading THE WEDGE MUST BE STRICTLY DEFINED “The Wedge must point sharply up or down. A converging pattern which is projected on the chart in a nearly horizontal direction is more apt to partake of the nature of a true triangle, and the student will note that the forecast in that case would be quite different”
Ethereum’s Wedge was not pointing “sharply up” and you could argue that the line was “nearly horizontal” either by degrees or by selecting other very close points of contact. Combine with this my earlier observation that the price underside compression angle was far greater that the upper lines weak slant.
A major reassurance to me in this ETH trade was when I discovered that increasing volume can offset the bearish tone of a rising wedge. It gave me something to monitor and helped keep me on the right side of probability.
I really hope this short review of rising wedges can help you stay on the right side of probability.
PUKA
BlackRock, breakoutUptrend
It's a breakout of a trend line and also you can consider it as a flag and as you see, it left the rectangle, I bought it today and probably I'll add tomorrow if a good candle seen.
BlackRock Short from 820-850BlackRock company short.
Trend Up to 820-850, then wait correction, move down.
$BLK - watch this👀NYSE:BLK
Daily chart:
Last week, it showed weakness - currently hovering around the 785-790 support but below 20ema.
➣ A daily close below 785 ➳ may lead to a retracement towards the next support at 760-762, potentially filling the volume gap.
➣ Solid volume shelf above 790 + RSI bearish divergence.
__
Weekly chart:
Last week, it formed a bearish engulfing candle with a higher selling volume, following a hanging man candle from the prior week.
BLK - Short The Big GunsThis is not a stock I would really be looking to short but there are a series of technical events leading me to set a limit short entry.
This is also in consideration of the gap down in indexes that is the first evidence that a bearish phase may now be underway in stock markets.
Where "SRP" is on the chart looks like a "Right Shoulder" / "Last Point Of Supply" (Wyckoff) bearish shakeout .
That has been followed by a big gap down today to leave the upper area as a circled "island" with a gap and and gap down on both sides.
This island is effectively a higher time frame Evening Star candle pattern and is very attractive to shorters.
Interestingly at the open there has been a strong bounce and the gap has almost filled already.
That was a bear trap and I think it is what I have been calling a "Breakaway Shakeout" where the bounce has arrived just as momentum has increased to wriggle out traders trading the breakout.
And so I think the gap can fill before the bearish trend continues and I have a limit short there @ $791.38.
Reasonable chance it will get back to the 0.618 @ $793.22 that is just above the gap.
Worth noting also that this area is higher volatility whipsaw post earnings. And that is also positive for a tricky reversal 👍.
Not advice.
BlackRock's Ambitious Move: Navigating the Ethereum ETF BlackRock ( NYSE:BLK ), one of the world's largest asset managers, is eyeing a bold move to follow its successful Bitcoin ETF debut with an Ethereum ETF. However, the journey to market and successfully promote an Ethereum-backed product might not be as straightforward as it seems.
The Bitcoin ETF Success Story:
BlackRock's ( NYSE:BLK ) entry into the cryptocurrency space began with the launch of its Bitcoin ETF, gaining widespread attention and positive reception. CEO Larry Fink initiated a marketing drive for a second spot ETF, this time with Ethereum as the underlying cryptocurrency. Fink emphasized the transformative utility of Ethereum's blockchain, highlighting its potential value.
Challenges in Marketing an Ethereum ETF:
The challenge lies in convincing investors who have already diversified their portfolios with a Bitcoin ETF to consider adding an Ethereum-based product. Sui Chung, CEO of CF Benchmarks, a partner firm on BlackRock's Bitcoin ETF, pointed out that investors may question the necessity of another crypto diversification tool after investing in Bitcoin.
Bitcoin as a Diversification Tool:
Chung emphasized the role of Bitcoin in portfolio diversification, citing its behavior and price history as potent diversifiers in traditional investment portfolios. The addition of a small allocation of Bitcoin has been shown to boost the overall risk-adjusted return, making it a compelling investment choice.
Educational Foray into Ethereum:
BlackRock CEO Larry Fink has begun delving into the complexities of Ethereum by mentioning tokenization, a concept gaining traction in traditional finance. However, Chung suggests that an educational approach should also cover smart contracts, decentralized finance (DeFi), and the intricacies of blockchain staking, all of which form integral parts of the Ethereum ecosystem.
ESG Concerns and Marketing Strategy:
While Ethereum's move to a greener validator model differentiates it from Bitcoin's energy-intensive proof-of-work system, concerns about environmental, social, and governance (ESG) issues may not be the ideal marketing angle. Chung suggests caution in navigating the ESG controversy surrounding investing today.
Conclusion:
As BlackRock ( NYSE:BLK ) explores the possibility of launching an Ethereum ETF, it faces the challenge of convincing investors about the unique value proposition of Ethereum in addition to Bitcoin. Navigating the complexities of Ethereum's ecosystem, explaining concepts like smart contracts and DeFi, and addressing ESG concerns will be crucial in developing a compelling marketing strategy for BlackRock's potential Ethereum ETF. The success of this endeavor could reshape the landscape of cryptocurrency investments and further solidify BlackRock's position as a key player in the financial industry's embrace of digital assets.
BLK : Booked a profit of 22.76% on the invested capitalBooked profits purely due to technical reasons.
Market seems a bit over valued and so there is a possibility for a sell-off in the near future. So decided to take some chips off the table. Hence booked profits since the price is close to inflection points that may trigger a sell-off.
Clearly aware of the fact that there is a possibility for a potential up move of about 20%, from the current levels, in the near term. But at the current situation the downside risk weighs more.
Will consider a re-entry if price falls back to the low of the channel line.
Defense of the last peakAfter breaking through the triangle formation, we can expect declines. It will be safe to assume that the price will reach the S/R level marked on the chart, which gives us a 2:1 profit to risk ratio
BLK: aiming for the upper range?I price action above 738 supports a bullish trend direction.
Increase long exposure for a break above 738.
The target price is set at 832 (upper range of the inclining channel pattern).
The stop-loss price is set at 719.
Recently crosses above its 200-day and week simple moving averages, confirming a bullish stance.
Asecending or decending wedge BLK Blackrock
most poplulary know for its 10 trillion dollar capital, has some excitment coming and itll be not so boring to watch from now up unitl early next year. YTD down 0.44% its bouncing like a lowrider a real gangsta mexican would be driving with the essays. i will be watching this and i am sure that i am not the only one.
WEEKLY CRYPTO HIGHLIGHTS -BLACKROCK STEALS THE LIMELIGHT, AGAIN!WEEKLY CRYPTO HIGHLIGHTS -BLACKROCK STEALS THE LIMELIGHT, AGAIN!!
The recent crypto Spot ETF developments, with BlackRock heading the tide in the industry, have proved that ETF approvals are not a matter of ‘if’ but a matter of ‘when.’
Amid the market recovery, Ripple’s XRP is trailing behind as a result of its ongoing case with the United States SEC.
SBF is headed to jail – and for a long time – the news has revived the FTT price and hope for FTX investors.
The crypto markets have been up this week, and many analysts have confirmed the beginning of a bull run. In this week’s spotlight, BlackRock, the financial giant that seems to have an insatiable trading appetite, has once again emerged as a key player in the crypto space.
From groundbreaking investments to strategic moves, BlackRock’s influence on the crypto market continues to shape the narrative and captivate the attention of investors worldwide.
BLACKROCK at crucial channel supportThe second largest worldwide institutional money manager - BlackRock, is seen reaching a crucial structural support level on the charts.
The stock after triggering an impulse up move in the October of last year just spend the most of the entire 2023 in corrective phase after that.
It is however now looking to complete a corrective pattern according to Elliot wave.
One should now only watch for right kinds of volumes to kick in and positive daily/weekly close.
It would not be a bad candidate to consider for the "Santa rally".
note*- this post is for educational purpose only.
Blackrock (NYSE: BLK) Spurring The ETF AdoptionIt’s been reported that BlackRock has engaged in preliminary discussions with Jane Street, Virtu Financial, Jump Trading, and Hudson River Trading, with regards to their potential involvement as market makers for a spot Bitcoin ETF.
Amid the crypto crackdown, a BTC ETF, if approved, would open a new pathway for U.S.-based firms to get a piece of the crypto action – in a way that plays to their conventional strengths.
Some of the world's largest market-making firms are in the mix to potentially provide liquidity for BlackRock's eagerly awaited bitcoin ETF if regulators approve the product, according to a person with knowledge of the matter.
Trading giants Jane Street, Virtu Financial, Jump Trading and Hudson River Trading have held talks with BlackRock about a market-making role, according to a BlackRock slide deck reviewed by the person familiar with the matter.
Assuming the U.S. Securities and Exchange Commission approves some or all of the dozen or so applications for bitcoin ETFs (including the one from BlackRock, the world's largest asset manager), that would open a new pathway for U.S.-based firms to get a piece of the action in crypto – in a way that plays to their conventional strengths. Being a market-maker for ETFs, which trade on exchanges just like stocks, requires a level of sophistication and automation that only a relatively few companies can achieve.
Market makers are vital to ETFs. They are responsible for creating and redeeming new shares of an ETF, a role designed to keep its price tethered to the price implied by the value of the ETF's holdings.
One of the best examples of why such a create-and-redeem structure is important actually comes from crypto. Grayscale Investments offers a product called the Grayscale Bitcoin Trust (GBTC) whose price has over the past few years wandered dramatically far away from the billions of dollars worth of bitcoin (BTC) that it owns.
Price Momentum
BLK is trading near the bottom of its 52-week range and below its 200-day simple moving average.
BlackRock, Inc. is about to benefit from the bitcoin rally.Though BlackRock is late to the bitcoin race, it's getting ready to be the goto place for institutional bitcoin adoption. This will open the company to a different crop of investors and we are about ready to see their stock price soar like bitcoin recently.
The recent CRYPTO:BTCUSD rally was due to some speculation on the approval of bitcoin ETF.
What do we think will happen to NYSE:BLK price if the ETF is approved?
Trade set up
Entry price: 605.82
Stop loss: 454.51
Target price: 913.97
If this idea was helpful, like, share and comment below.
BlackRock, Potential Bearish BAMM Targeting $161.70BlackRock has some Hidden Bearish Divergence across a few notable time frames and is below many of the major Moving Averages after Bearishly Pivoting at a 618 Retrace, if we can continue down from here we will eventually break below the B Point and go for a Full Bearish BAMM break down to the 0.886 Retrace at $161.72
Next 6 months are important for BlackRock investors
BlackRock has demonstrated strong financial performance with consistent earnings surprises in recent quarters. The company's fundamentals are robust, with impressive profit margins and returns. The stock's recent performance indicates some volatility, but the long-term trend has been positive. The company's dividend yield of 3.13% is also attractive for income-seeking investors.
However, the stock's recent decline in YTD return and its position below the 200-day moving average might raise concerns for some investors. The high beta indicates that the stock is more volatile than the market, which could lead to larger price swings.
Conclusion:
While BlackRock has shown strong financial performance and has a solid position in the asset management industry, potential investors should be cautious due to the stock's recent volatility and its position relative to its moving averages.
Black rocks Bitcoin ETF SagaFact: The US Securities and Exchange Commission Will Not Appeal the Grayscale (GBTC) ETF Ruling
A Bitcoin Trust is a financial vehicle where investors pool their funds to buy and hold Bitcoin. Bitcoin Trusts operate like a traditional investment and are traded on the over-the-counter (OTC) stock exchange. Bitcoin Trusts indirectly own Bitcoin through the trust’s holdings.
Conversely, a Bitcoin ETF (Exchange-Traded Fund) is a fund that tracks the price of Bitcoin and is traded on stock exchanges, just like a stock. ETF investors buy shares of the fund, which in turn owns Bitcoin. Bitcoin ETFs are more optimal because they directly own Bitcoin, and offer investors more liquidity and flexibility than Bitcoin Trusts.
Grayscale runs the world’s largest Bitcoin Trust. However, Grayscale has been working to clear the “red tape” of switching from a Bitcoin Trust to an ETF for the past two years. Because the SEC did not act before the Friday deadline, the SEC will not appeal an August court loss over Grayscale’s ETF conversion application. In a statement to CoinDesk, a Grayscale spokeswoman said: “The Grayscale team remains operationally ready to convert GBTC to an ETF upon the SEC’s approval, and we look forward to sharing more information as soon as practicable.”
Fiction: The SEC Approved Blackrock’s (BLK) Bitcoin ETF
Early Monday morning, CoinTelegraph, one of crypto’s most followed news sites, tweeted news that the US Securities and Exchange Commission had approved Blackrock’s Ishares spot Bitcoin ETF. As a result, Bitcoin spiked to two-month highs and neared the psychologically important $30,000 level before reversing. However, there was one major problem – the tweet was a hoax. A few hours after sending Bitcoin soaring, CoinTelegraph retracted its tweet and said it was investigating why false news was spread. Meanwhile, Blackrock, the world’s largest asset manager, confirmed that the headline was false and said the Bitcoin application is still under review by the SEC.
BLK BlackRock Options Ahead of EarningsIf you haven`t sold BLK here:
or ahead of the previous earnings:
Then analyzing the options chain and the chart patterns of BLK BlackRock prior to the earnings report this week,
I would consider purchasing the 640usd strike price Puts with
an expiration date of 2023-10-13,
for a premium of approximately $10.80.
If these options prove to be profitable prior to the earnings release, I would sell at least half of them.
Looking forward to read your opinion about it.
BLK to Fall before RisingBLK has been forming an ascending triangle since August 2022. In Aug 2023, BLK broke the trend line of this triangle and is below 20/50/100/200 EMAs. Overall market is bearish. If the market trend continues till end August, BLK is likely to test support level near 640. The subsequent uptrend of BLK is likely to reach price target of 810 by mid-2024 and 900 by beginning 2025.
Earnings Journal 💵💵💵📶 S I M P L I S T I C A N A L Y S I S
Current Market Trend: neutral/no defined trend.
Next Wave: buy wave to the deviation.
Next Swing: negative swing to support.
Trade Type: Touch & Go don't wait for a close.
💵 E A R N I N G S A T A G L A N C E
Release Date: 10/13 BMO
Surprise-Confidence: on a scale of 0-5, #3.5
Earnings Anticipations: positive surprise for EPS & positive surprise for Revenues.
EPS & Revenue 2-Year Trend: the company trend in EPS is negative, the company trend in Revenues is negative.
📝 S Y N O P S I S
"I expect the market will buy the surprise if the earnings report hits the Wall Street consensus, or sell the surprise if the earnings report misses the Wall Street consensus."
🔎 R E S E A R C H D E P T H
Technical Analysis: daily chart.
Fundamental Analysis: EPS & Revenue data.
Press/News: none.
Social Media: none.
BLACKROCK, Decisive Formation Looking For Further Confirmation!Hello Traders Investors And Community, welcome to this analysis about BLK ( BLACKROCK ) 4-hour timeframe perspective, the recent events, the current formation building, what we can expect the next times, what can happen after confirmation and how to handle the situation sufficiently. The stock has recovered from the major corona-lows seen this year with some decent but weak up-moves and now trading above the prior established all-time-high-condition where it is building some decisive price-action important for further conclusions, in this case, I detected some important signals which can determine further outcomes of this stock.
Looking at my chart you can watch there that the stock is forming a huge rising-wedge-formation with the upper and lower boundary marked in blue which it touched already several times to form a coherent wave count with the final wave E already established and now showing more declines in the short-term firstly which can spring up into the middle and then longer timeframe perspectives. What is also matching here is the declining momentum you can watch marked in red normally indicating a reversal into the other direction, overall the stock is showing up some solid signals to come up with increased bearish selling pressure the next time.
When the stock moves on to confirm below the lower boundary which is a likely scenario, there is some local support in this area in which the stock can bounce to confirm the lower boundary rightly as it is seen in my chart marked with the confirmational. When the stock confirms the lower boundary and moves on downward below the 60-EMA in black it will continue till there is support found which can reverse the perspective and stabilize the situation which is the 200-EMA support marked in green where the stock can bounce to form a reversal. The wedge can be traded either aggressively with immediate entry or conservative with entry after confirmation.
In this manner, thank you for watching the analysis, support for more market insight and all the best my friends.
Information provided is only educational and should not be used to take action in the market.
