Xrp is still making lower lows and lower highs. I'm expecting another leg down before cryptocurrencies become mainstream. If they already aren't. More mainstream, like. When you could actually shop around using cryptos instead of dollars :D Currently chart seems like it's retesting. Let's see how the week closes and the month closes. I personally have bought...
Aiming to close at around highlighted area at the end of the month. Anyone?
-50% in less than 2 months may build a bull trap after, shown in chart. I hope it breaks higher high. I'm not ready for recession haha
Stimulus doesn't do anything to charts. It's just a reasoning. Fibonacci retracements do tho! DJ bounced at .5 fib since 2009-2020 hike. Next, DJ could retest MA200 daily and down again from there from a bearflag to 15,300.
Bitcoin possible bearflag! This could be a good chance to grab cryptocurrencies at a bargain. Probably to around 400-600 a Bitcoin, that's when bankers get in.
Now that DJ hit .5 fib, next target will be at .236 from the total fall at USD20,300-800. Why? Corona virus. I'm joking lol, the virus did nothing to DJ. It's just a cover up on why stock markets crashed. DJ should revisit MA100 & MA200 regardless even if you don't watch the TV. Next month we might see 15,300. That would be awesome, buy in cheap. Let the 90%...
Oil has a bear-flag in the monthly chart, could go back down to $10-11 a barrel and form a triple bottom. Up from there would be nice to put a buy limit
This is only valid for day trading. Watch level .5 fib and .618 to buy (.618 is located exactly at Monthly MA200) Which is at around 18100 and 15400 USD This might set up a bull trap, DJI might move up from here and close below last high on the monthly chart Let's see how things play out, up or down we are making money!
This week DJI should close above support. Next 2 weeks DJI should make a long wick downwards to around USD17-17,500 and closes in green which would make a good bullish doji candle. Also watch 23,600 lever which still have to be retested (MA100 weekly) Remember, corrections don't come from a bat, a virus, a plane that got shit down, trumps tweets, etc....
As expected, back to monthly MA100. Monthly chart. I would wait and see how this month's candle closes and see. If it closes above MA100 (green line), I will try to find a long entry. If it closes below MA100, I will wait for a retest (same, at MA100) to open a short position. Ideas are welcome !
Commodities have been trading way above MA100&200 for years. That's like buying a brick house for millions in Toronto. (overpriced) Time for the big boys to crash the market and stack up back some investors cash. (Central Banks and Government). And after they crash it, they have to blame it on something (corona). Or someone they're in debt with...
ETH did a nice correction to $235 as I mentioned earlier. Currently ETH should keep going up to the next fib retracement point Next target is .5 Fib (at USD367-370) From there, another correction should arise Goodluck
Ethereum reached .618fib retracement in respect to last swing high-low (USD .618 known as the golden ratio should give Ethereum a nice correction downwards to around 235,l and 165. Long term still bullish until june-july. Personally I'm shorting at 268, SL at 275.
Next target : USD11,026 at .618 fib .618 fib is where the bounce usually come. Should be up until July 20 ish based on the Fibonacci time frame.
Ethereum is at .238 fib retracement currently Next targets at: 209 238 268 I'm bull with cryptocurrencies this year. Share your ideas!