pnaik732

pnaik732

BTCUSD is entering the bounce zone, hitting strong resistance now, and support levels at 28150 and 27200. This is for a quick trade, though if you believe a credit event is coming then also an opportunity to accumulate. not financial advice

pnaik732

S&P 500 testing uptrend support. Bulls want to see a bounce here, or at least some resistance in the face of mounting pressure. A breakdown could mean tests of lower horizontal resistance levels.

pnaik732

There's a triangle on the 4 hour chart of BTCUSD. Really low volatility is just itching for an excuse to move... does it come soon? There are some support and resistance areas on the chart.

pnaik732

SPY re-testing the top of a wedge... a bounce could mean all-time highs before the recession, a fall takes SPY back down to the long-term trend line. Tread carefully, but despite all the warnings about a credit event both scenarios are still in play, particularly if the "credit event" is not THE credit event

pnaik732

Time for another BTCUSD big move. Clear triangle forming. BTCUSD has been holding up really well, so could be setting up for a continuation move. Of course, triangles can go either way.

pnaik732

wait for confirmation of course, but the powerful upchannel has been broken today. Still could pop back into the channel tomorrow though. If not, testing the next line down is a strong possibility

pnaik732

Lumber to Gold ratio having a nice repair, but if it bounces hard off the uptrend line, look out below! If it consolidates underneath could be an opportunity for a rally earnings and the consumer may tell the tale

pnaik732

The SPY up channel is still intact. Bears time will come but a few things have to happen first, and several supports on the way down. Waiting for the other shoe to drop can take a while.

pnaik732

Look for signs of confirmation but this is potentially the start of a long signal. Target is the top point of the start of the wedge. This is not financial advice.

pnaik732

Anything can happen, but this is a bullish pattern coming from a downtrend. However it also means that if there isn't a bullish breakout, there's a long way down.

pnaik732 Updated 

This triangle on the S&P 500 is still holding. As long as it is still inside there is no way to be certain of direction. Look for a breakout and the re-evaluate.

pnaik732

After the last spike the picture is confirmed. Here are the key lines of very-short-term support and resistance. Anyone who is convinced we are going down or up from right here in the short term would surprise me. The battle is clearly on.

pnaik732

There is a potential breakdown in the recent uptrend of the Lumber to Gold ratio. Watch Gold, if it keeps going this week it could have a nice run. If it falls back then the uptrend may be intact.

pnaik732

The futures are looking pretty dreary for the S&P 500 but it could just be a test of the bottom of the upsloping channel.... market is selling off but is there really any thing new or surprising lately?

pnaik732

Not at all surprised, now let's see if BTCUSD can stay above the channel and break through 28.7k, or if we go back into the channel and drift down to test the channel low. Still in the ascending triangle for now though

pnaik732

This week was awesome for Bitcoin.... but can the Bollinger band remain stretched? Long term good news for Bitcoin if it holds the 21 week EMA, but that will take a few weeks to find out. Break the 21 EMA and might go to test the lower Bollinger Band instead.

pnaik732

BTCUSD has reversed after retesting the epic monthly support, and has now broken the big up-sloping resistance line. All depends on how the month closes and if the next month confirms it is game on.... if the resistance line is lost could be big trouble.

pnaik732

You can see that BTC.D is heading straight to test BIG resistance at 48.75%. Either Alts run there, or the markets are crashing and BTCUSD takes crypto share, or BTCUSD lights on fire. This is definitely worth watching.