As I posted on May 1st that the S&P was going to have a major move. At the time we were still above our box of support ($4,050 - $4,150). Now we have broken below that key support range and are currently retesting it. Most likely we will flip OLD support (green arrows) into NEW resistance (red arrows). Therefore, if selling occurs in this zone it could lead to a...
ENS looks like it is running out of steam on our RSI. This would be a good place to begin shorting. If we do go higher look for tight shorts in the red box I have drawn above.
Nice parallel channel forming for ETH. Would watch this closely for swing trading.
Here we can start to make out a clear triangle forming on the 4H. As soon as we have a candle close above the resistance or below the support of the triangle, we should see a move to the measured price target. To the upside, our price target is around $35,000. To the downside, our price target is around $26,400.
4H candle is forming a doji. This gives us a potential good short setup with a tight stop loss at the high. 1.5 RR ratio.
We can see that our KDA trend is starting to stall out after going on an almost 100% rally to the upside. Our old support (green arrows) is currently acting as new resistance (red arrow). Taking a short here gives a good RR with the SL being above our last high. If we break our neckline of $2.80 we could see a move somewhere near the $2.40 level.
From my pervious posts it seems pretty clear we are about to go on a nice relief rally. But I do want to caution you on opening long positions at the current moment. With how price action is acting, it would not surprise me to see some chop and then a swift move to the downside (bart pattern). This would liquidate the overleveraged longs and give us a clear...
Here we are analyzing the daily timeframe and currently it looks like we could be repeating a similar pattern from Jan 2022. During that time, we created a W pattern finding a low around $43 and candle body support around $47. Once we broke $60 (the neckline of our W pattern), we had almost a 100% rally to the upside!!! Current day, we are seeing the same sort of...
The chart on the left is the 1D time frame where we can see that we have just created a double bottom in price (around the psychological level of $1) and have already rallied almost 20% from our lows. The chart on the right is the weekly time. We have bounced perfectly off oversold on our 1W RSI, which is usually a very bullish thing. At the current price of MIR...
On the 4H we have broken above our resistance trend line (Red trend line) and are currently holding new support upon it (Green arrows). Wait for a daily close above to confirm. Also it is very important to wait for the FEDs announcement before hopping into a position. Other than that things are looking good for a pretty big rally to the upside, before potentially...
Here is $Ape and our Fibonacci levels of the current move. What we can see from this, is the 4H candle bodies have had massive confluence with each of these levels. Currently, it looks as though this $13.50-$13.80 level could be a bottom before a relief rally. It is still possible we drop to our long term trend line around $11.70, but if this ($13.80) does become...
In my previous posts, I have outlined the bullish scenario which seems highly likely. Since so many people right now are bearish, it would make since for there to be a massive washout of shorts before potentially continuing a bear market. Although, we do live in very uncertain times, and it is important to examine the bearish scenario. This will give us a good...
$ENS we have been forming higher highs, but on our RSI lower highs. Thus we have created a bearish divergence. It is only on the 1H, 2H and 4H timeframes therefore be cautious. Could be a great short, but only on lower timeframes at the moment.
Really interesting fractal potentially playing out for the long-term outlook. I know a lot of people are currently bearish and think we could drop to the $30k level or lower. This is a valid point, but Bitcoin normally likes to surprise people. Therefore, since everyone is bearish, I want to give a bullish outlook on the long-term growth of Bitcoin and provide...
Here I have outlined every key level for Ape on the daily timeframe. The main levels of support are $14.25 and $11.70. If we can find support at either of those price targets, we could see a bounce all the way back to around $20. We also have a trend line that has been forming as support since our low of $9.50.
Since Dec 2016, every time the US dollar has reached a price of $103 we have seen HUGE moves to the downside. Will history repeat itself? Currently we have reached a high of $103.92 which has not been seen since Dec 2002!!! A selloff is starting to begin as a new month has begun. If we take a look at our monthly RSI, a slight bearish divergence is being created....
We are at a critical point in the chart that could determine the next several months of price action. We have entered our green box of support around $4100 which leaves us two options. Option (1), Buyers find support yet again at this level and we rally all the way back to our trend line - $4500. Option (2), We end up losing this support, flipping it into new sell...
Although the 3D chart looks very bearish, we have found support at our downwards sloping support on the 4H. This has created a bullish divergence with lower lows in price action and higher lows on the RSI as labeled in the chart (Black Arrows). We are also in what seems to be a falling wedge pattern (pink lines) which generally breaks out to the upside.