Itskaleel

Itskaleel

Us30 has just ranged between 39k and 38400 for the past 2 weeks, with little impacting volatility or overall sentiment. The CPI data had a short live bullish spike testing 39k before price corrected the move still within the range. This week if price fails to break above 39k respecting the bearish liquidity zone to the left then we could easily see price break...

Itskaleel

Last week on us30, we saw price begin trading below 39k, clearing the range to 38500 as expected. Then continuing this bearish correction to test key level 38000 before rejecting and ending the week at 38500. On higher time frames us30 is still in a bullish market structure, giving us no reason to change our bullish bias. So unless us30 breaks below 37800 we can...

Itskaleel

For the past week, us30 has been on a steady downtrend after rejecting the 40000 level. Price began consolidating while ending the week at 39000, and has now broken below giving us reason to believe this bearish run could make its way to 38600. This week if price continues to trade below 39000 and we see Higher Time Frames candle closures below we can expect price...

Itskaleel

We got the break above 39000 on us30. We've now begun consolidating at key level 39500, slightly under the current All-Time-High. We will likely see buyers try to squeeze as much profit as possible so expect a bullish move to test the ATH, specifically if we see a break above 39600, clearing the range to 40000. Otherwise, if price breaks below 39400 we could see a...

Itskaleel

Despite the fact the FEDs stance on inflation was that there is more work to be done before seeing any rate cuts, their optimistic tone is why we still saw us30 move bullish and begin trading above 38600. As we approach the 39000 key level it's likely we'll see some resistance and if we fail to break above expect price to retest 38600 before making its way back to...

Itskaleel

Last week we got the expected retest of 38600 before failing to break above then returning to the 38000 level. With anticipation for this weeks FED speech and market indecision, we continued the week just ranging between those key levels. Tomorrow the feds will be discussing their stance on inflation and how they choose to respond will impact the current market...

Itskaleel

After creating a double top at All-Time-Highs, us30 began a steady bearish correction back to the 37200 key level. Then rejecting and still maintaining the overall bearish market structure on higher timeframes. Now looking on the daily timeframe we see a strong hammer head candle formation after rejecting 37200, indicating a reversal and potential bullish move....

Itskaleel

Us30 has just been consolidating at these highs for the past couple weeks, while still maintaining this bullish market structure. Last week with CPI coming in fairly neutral we saw another retest of the previous All-Time-High before coming back down to test 38650, respecting this lower time frame uptrend. With continued rate cut bets holding wait and decreasing...

Itskaleel

As expected, once we saw price trading below 38800 we got the bearish move to continue down to test the 38500. After seeing a lot of back and fourth movement price came back down to test 38500 again creating a double bottom, which is an indication of a potential reversal which we saw pushing price back to 38800. After the CPI data came out the volatility showed...

Itskaleel

Last week we got that expected push down to 38800 before seeing a retest of 39000, price simply ranged between those 2 levels with a lower volume output. With price now struggling to hold above 38800 we may begin to see a push to 38500, a continuation of the downtrend from the 39280 All-Time-High. Confirmations if we see a Higher-Time-Frame closure below 38800....

Itskaleel

We ended last week in a consolidation zone just after creating another All-Time-High slightly under 39300. We've had a slow start to this week regarding volume, but price has now broken below this demand zone, potentially making its way to test 38800. If we break below 38800 expect price to continue down to 38500 or even 38200. Our main bias on the other hand...

Itskaleel

2 weeks ago we saw us30 sitting just under 38800 All-Time-High, then with rate cut hopes and stock market greed impacting the market we got continued higher highs creating a new ATH at 38900. Last week inflation data was released higher than expected ending any near rate cut hopes and giving us a correction on us30, we saw price drop to 38000 level before making...

Itskaleel

In the past 2 weeks, us30 has strictly been rallying, printing new All-Time-Highs weekly. Last week we finally saw an almost 500 point correction after FED Powells FOMC speech where he indicated that they don't plan to cut rates any time soon, ending the rate cuts narrative driving the market. Despite that, this correction was short lived as we continued to print...

Itskaleel

Last week on us30 we expected rejection of the 37200 area, a bullish move to break above 37600 and continue to print new All-Time-Highs. At this key price point if we fail to continue to make new ATHs expect buyers to begin taking profits, leading to a short term corrective phase as the rate cut bets narrative begins to be phased out. If we fail to break below...

Itskaleel

Last week we got a second retest of 37800 All-Time-High creating a double top indicating a bearish reversal which we then saw ending the week and now testing 37200. Still playing the stock market greed and rate cuts narrative our bias is still bullish specifically if price breaks above 37600. Since we are currently at one of our targets from last week 37200 we can...

Itskaleel

As us30 begins to show exhaustion and profit taking we end the week at 37200. With jobs data supporting the optimism of more rate cuts in the future and stock market greed, we can still maintain a bullish bias on us30. However, we have to look out for the CPI (inflation data) for a true picture of whether or not we can keep this current sentiment. As of now, our...

Itskaleel

Us30 has been on a steady uptrend over the holidays which typically host a lot irregular movement entering a new year and business quarter. With that being said we've been creating new All-Time-Highs for the past 2 week, representing the optimism still in the market with hopes for continued rate cuts. We could likely see buyers begin taking profits at these new...

Itskaleel

Us30 is now testing All-Time-Highs after breaking out bullish last week from the 36000-36200 liquidity zone. With this data heavy week upon us, the FED interest rates being released will likely impact whether we see us30 continue bullish creating new ATHs. For that to be the case we'd like to see FEDs continue to keep rates steady as expected or lower them and...