Eighty_Street_Capital

Eighty_Street_Capital

I just took a scalp on ETH as it looked like it wanted to break the 50 & 100SMA on the 4hr. Entry $1581.75 Amount: 5 TP $1725 SL $1480 NFA DYOR

Eighty_Street_Capital

The DXY is up +0.60% to start the week & has been on a tear since it tested the support channel on Aug 11 @ $104.625. Things to note: - LT support line is @ $106 - $107 - price action is ABOVE the 9/21/50/100/200/300 SMAs which is BULLISH - LT overhead resistance is @ $111 - $112 We have a FED FOMC meeting & rate raise coming up on Sept 21. Maybe we test the...

Eighty_Street_Capital

The SPX is down -0.2% to start the week. Things to note: - today we saw our 1st break of the BF support channel, but have reclaimed it so far - bull target #1, get back above 50 & 100SMAs @ $4020 - bull target #2, gap fill @ $4060 - bear target #1 gap fill @ $3790 - bear target #2 gap fill @ $3675 - IF bear targets are met, expect a re-test June low @ $3635

Eighty_Street_Capital

The NDX is down -0.70% for the day. Things to note: - price has failed to rally and get back into BF channel for 3 days now - bear target #1 is gap fill @ $11.77k - bear target #2 is gap fill @ $11.3k - IF we get a re-test of the June low, bears need it to break & bulls need a double bottom - bull target #1 re-test BF channel - bull target #2 break above the...

Eighty_Street_Capital

BTC Update: Daily TF Sept 6 Bitcoin failed to break above the 9SMA today & broke down to test the Jul 13 low @ $18.9K Things to note: - we've had a re-test and bounce from the Jul 13 low @ $18.9K - next bearish target IF Jul low doesn't hold is a re-test of the June low @ $17.6K - bulls have FAILED to break the 9SMA to the upside for 12 daily candles in a row -...

Eighty_Street_Capital

Let's have a look at the S&P500 on the weekly timeframe. The S&P500 has been in a bearish macro trend since it's ATH on January 3, 2022. Things to note: - we got a bearish rejection @ the 50 SMA & bear flag resistance channle @ $4300 on Aug 16 - the SPX had a bearish break below the 100SMA @ $4165 in the week of Aug 22 - after breaking below the 9 & 21SMAs, we...

Eighty_Street_Capital

We cannot rule out the possibility of a bounce or lower high being set on the NDX, so here are the targets that I would be looking @: - price action holding well at $12K support + liquidity zone - 1st target is @ the BF support line $12.3K - 2nd is gap fill @ $12.6K - 3rd is the downward slopping trendline @ $12.9K - 4th is gap-fill @ $13.3K - 5th is another gap @...

Eighty_Street_Capital

As noted in the weekly TF update, the NDX has been bouncing around in a Bear Flag since the June low @ $11,040. Things to note on the daily TF: - rejection @ BF resistance channel @ $13.7K on Aug 16 - got a bearish cross of the 9SMA below the 21 on Aug 26 - price action is below the 9/21/50/100/200/300 SMAs which is bearish, BUT the 50 looks like it might want to...

Eighty_Street_Capital

The NDX set a peak on November 22, 2021 and has been trending down ever since. Thing to note: - the 50SMA (green line) is looking like it's heading down to make a bearish cross below the 100SMA (yellow line). This would be extremely bearish, especially on the weekly TF - the NDX formed a Bear Flag channel from the June low @ $11,040, and saw a massive rejection...

Eighty_Street_Capital

ETH looks pretty bullish on the 4hour timeframe because it is above most of the SMAs, except for the 200 & 300 (red and purple), but overall targets are still the same as the daily chart. Things to note: - the bulls have found support above the 9/21/50 & 100 SMAs between $1553 & $1578 - bulls now looking to test the 300SMA @ $1655 - if 300SMA breaks to upside,...

Eighty_Street_Capital

Like BTC, ETH has been following a Bear Flag channel pattern since it's low on June 18th. UNLIKE BTC, ETH has yet to test/break below the BF support channel. Things to note, top to bottom: - major overhead resistance @ the 200SMA & topside of the BF channel @ $2100 - liquidity zone between $1825 - $1975 (these LIKE to be tested but do not NEED to be just yet) -...

Eighty_Street_Capital

There isn't much to add regarding the 4HR TF. BTC got a bearish cross of the 200 below the 300 on Sept 2nd (never want to see short-term SMAs cross below long-term SMAs). The bulls are eyeing a bounce target @ the 100 SMA @ $20.6K. Next upside targets would be the BF support channel + the 200 & 300 SMAs between $22K - $22.5K. Regardless of any ST bounces, I'm...

Eighty_Street_Capital

BTC broke below the bear flag, that it formed back June, for the first time on Aug 26 with a large red candlestick. Since then it has been UNABLE to reclaim the BF channel as support. On Aug 29th we got a BEARISH cross of the 21 below the 50, and we are below ALL moving averages EXCEPT the 9SMA. The bulls will look to try and reclaim the 21SMA @ $20.8K. If...

Eighty_Street_Capital

Bitcoin's macro trend is bearish. The weekly timeframe looks terrible. BTC is BELOW all of its SMAs except for the 300. The 50 is crossing below the 100 which is a weekly TF death cross, and we broke below the bear flag support channel 2 weeks ago and have been unable to reclaim it since.

Eighty_Street_Capital

This chart is simply to outline the current cycles' macro bottom and top to create reference for my work/thesis