pnaik732

pnaik732

The BTCUSD chart is on fire, but the moon is beyond the final boss. This glass ceiling is very unlikely to crack the first time, perhaps take some off the table Reload on pullbacks to former levels of supports BTCUSD can defy all logic and run straight through, just don't see it since massive potential good news is priced in. Could be wrong. not financial advice

pnaik732

Massive FOMO into TSLA happening here It will run with SPX to the 5550 area though, see related post. TSLA is going to need a breather... could be a clear rejection in which case it is going down to fill gaps, or could form a handle for another run not financial advice

pnaik732

SPX has a very long term trend line intersecting with the 2023 uptrend line. This indicates two levels of overhead resistance around SPX 5550. Look for a strong pullback from this level. "Second-tier" stocks having a run like TSLA should also need a breather around here. not financial advice

pnaik732

For the first time GOLD/BTC has rejected off of 0.04 rather than sail straight through Expect another attempt at 0.03 in the near future. Normally I would say it might break 0.03 finally soon, but there's been too much fiscal shenanigans to expect it this time. So 0.03 is the target and then re-evaluate. not financial advice

pnaik732

Indecision shown here with purple dashed lines. An impressive consolidation. One proper pullback is the obvious thing, but when something is that obvious it usually doesn't happen. So look for this to make one final push with the rest of the markets; alternatively if markets go down expect further consolidation and some downside before the dip is bought

pnaik732

to be decided of course but after gold broke on through this one might be next stay alert for a triple top, or a triple top breakout

pnaik732

Gold to Bitcoin is heading for a triple bottom. Price action there will tell us if BTC is going to keep running hard or if Gold has one more big run in store probably the latter not financial advice

pnaik732

GOLD/SILVER ration is about to re-test the triangle breakout..... This is a nice potential opportunity to long gold should the retest hold. Even if Gold goes lower it's still strong relative to silver until it gets to the bottom of the triangle not financial advice

pnaik732

Keep an eye on this chart Gold/BTCUSD ratio is testing support.... possible if this breaks the Gold/BTCUSD ratio could move quickly to test the all-time lows More likely BTCUSD shoots up than Gold falls... but the latter is a possibility

pnaik732

BTC dominance making a run for resistance A little profit taking never hurt anyone If still bullish, can always rotate into alts Not financial advice

pnaik732

Beautiful triangle breakout on the GOLD/SILVER ratio wait for the ratio to come in, and then there should be a beautiful high-confidence buying opportunity, presuming the top of the triangle holds on a retest not financial advice

pnaik732

SPY seeing parallel channel resistance in a channel that has been grinding up for a while now. A break up would be shocking, but possible.... more likely we go back into the middle of the channel but the way this market is going who knows

pnaik732

BTCUSD is testing support at 42k, though there is more support at 41k if this doesn't hold. Look for a bounce and then watch to see if BTCUSD makes a lower high, this would be a good sign that BTCUSD is headed lower

pnaik732

Expect a triangle breakout move on BTCUSD over the weekend. It may or may not be due to any announcement, but it is clear from the tails that this triangle is important. Not financial advice

pnaik732

Looks like a potential breakdown of the slow up channel. If so look for further downside as tie goes on. Getting back into the up channel means the slow grind may continue not financial advice

pnaik732 Updated 

keep an eye on this.... if it is not a false breakout, then based on the movements in ETF prices, the outlook for gold is improving and the outlook for silver is declining, but gold may still decline for a bit just with relative strength please zoom out on the chart to see the full trend not financial advice

pnaik732

If the top trendline properly breaks (currently could still form a wick), then the chart says buy gold. This could be the big one for gold, but we have been fooled many times before. Otherwise if the top trendline holds, the chart says buy silver. Not financial advice

pnaik732

S&P 500 cannot get past the ascending tightening wedge resistance on light seasonal volume. If it can, sky is the limit, maybe 5200+. Would have to not be a false breakout though, we've seen those before. If it can't most likely defense point for the bulls is at 4550 (+/- 50).