In this analysis of SPY, this is the third time in history of SPY (excluding Pandemic black swan event) that the RSI has gotten into the bearish control zone on the monthly chart.
Historically, this only happened in March 2001 and March 2008 before the market capitulated.
In 2001, the market retraced 50.45% from ATH and in 2008 it retraced 57.41% from...
We have 4 hour 3-drive bullish divergence currently. Green and red boxes are liquid zones.
With all these targets, we have to take them level by level.
Target 1 is 8500
Target 2 is 8700
Target 3 is 8900. A daily close above 8900 will create a higher high on the daily timeframe, if this happens then we will likely retest weekly horizontal resistance at 9500. A...
Bitcoin on the 4 hour is currently in a downtrend, using the yellow 21 EMA and red 10 SMA as resistance. Price action broke the bottom trend line support and is using the green liquid zone as last support level. A 4 hour candle close below 7850 and the support will be confirmed broken to the downside initiating the next major leg down
4 hour stochastic's have...
Bitcoin on the 12 hour time frame is consolidating. A 12 hour close below 7850 and it will be a confirmed support breakdown, leading to the next leg down to 6800-7000 range.
Price action has rejected the yellow 21 EMA and red 10 SMA and using both as resistance. The 12 hour timeframe is in a death cross formation and has confirmed the death cross with the strong...
Bitcoin on the daily is still consolidating in a range and is looking likely to breakdown in the next few days. However, cannot trade for the downside until we see a confirmed breakdown of the daily 377 EMA.
Bitcoin has rejected from the yellow 21 EMA and the red 10 SMA using both as resistance. We also have a daily death cross that is going to confirm in 1-2...
Bitcoin is still in a weekly downtrend consolidating at major support at the 55 EMA. Consolidating on major supports makes the support more likely to breakdown. We have rejected from the yellow 21 EMA, and the 21 EMA and red 10 SMA have downward slopes, indicating more sell pressure down. Trade below last week's low at 7765 and we will most likely begin the next...
Bitcoin on the 4 hour in a downtrend, has regained the 10 SMA but held below the 21 EMA using it as resistance. Downtrend slope is much more aggressively slopped than the uptrend, indicating the selling pressure is intensifying.
Downwards slope aligns with the 12 hour 10 SMA and 21 EMA, indicating it will be strong resistance.
4 hour stochastic crossing up and...
Bitcoin is forming a bear flag with falling off volume on the 12 hour timeframe and is held up by all major moving averages. A confirmed high volume break on this bear flag will most likely initiate the next leg down
First resistance around 8160-8200, between the 10 SMA and 21 EMA.
12 hour stochastics are extended to the downside and are looking like they want...
Bitcoin on the daily is currently consolidating in between two liquid zones. Green support liquid zone between 7700-7850. Red resistance liquid zone between 8600-8700. A daily candle close below either liquid zone will confirm structure break. I am currently more biased to the downside as we are in a weekly downtrend.
Price action is currently trading below all...
Bitcoin on the 4 hour timeframe is currently postured in a descending triangle. A 4 hour candle close below 8267 and the descending triangle measure move is down to the next liquid zone at 7850.
Currently, price is trading below all major moving averages. Red 10 SMA and yellow 21 EMA sloped down and acting as resistance, adding pressure to the downside.
4 hour...
Bitcoin on the 12 hour is forming an uptrend, we have a confirmed higher high and higher low. This uptrend will turn into consolidation if we trade below the yellow horizontal at 8094, which will most likely retest the bottom green liquid zone. We have had 3 tests to the liquid zone, buying on a 4th test is unlikely to hold as support. Currently, we are using the...
Bitcoin on the daily chart is consolidating. We have a confirmed higher high and lower low.
We are below the major liquid zone marked in the red rectangle, below the yellow 21 EMA using it as resistance, it is sloped downwards putting more pressure to the downside. We have also rejected off the 200 SMA and 200 EMA using both as strong resistance.
A daily candle...
Bitcoin is in a weekly downtrend. We have confirmed a lower high and lower low. Major weekly pivot is the previous liquid zone we broke on Sept 23. Found support on green 55 EMA , confirmed rejection off yellow 21 EMA , using it as resistance alongside the liquid zone. Next target is next major liquid zone at around 6800, aligning with the cyan 89 EMA...
