priceactiontds

priceactiontds

Good Evening and I hope you are well. comment: Every bounce is sold. Target 75k remains but I hope for 70k. The big bear trend line is valid until broken, so bulls need to claim 94k again for higher prices. Not the white house summit nor the crypto reserve could break the bear trend line, why would it break now? People are running for the exits and are desperate...

priceactiontds

Good Evening and I hope you are well. comment: Another ath but two rejections for 300+ points. I give bulls one more try at this and if we pull back below 23300 again, this likely sells off into the weekend. Past 3 Friday’s we chopped into the weekend after a gap down. Right now is not the time to have bigger positions over the weekend when orange face is at...

priceactiontds

Good Evening and I hope you are well. comment: Market made a lower high. Most important fact today. Higher low also but for bears it was more important than for the bulls. Range is contracting between 20300 and 20730, so play it. News bombs will likely determine what we will do tomorrow. Embrace the volatility. Trade small and take profits along the...

priceactiontds

Good Evening and I hope you are well. comment: Very strong selling followed by very strong buying but bears defended where they had to. Another one for the 50% retracement if you go from ath down to 22348, the 50% is around 22849 and market stopped the bounce pretty much there. Now we have a big gap up from 22357 up to 22707 but I doubt this will stay open. My...

priceactiontds

Good Evening and I hope you are well. comment: 791 points from low to high today. The selling stopped exactly at the 50% retracement and this is the line in the sand for my outlook. We have two very big patterns now possible. We either melt much higher to 23800+ or we do a proper correction like the US markets but we very likely won’t continue sideways around...

priceactiontds

Good Evening and I hope you are well. comment: Very erratic price action the past week. Monday and Tuesday closed below the mid point of the daily range, just to have a 2% up day on Wednesday, followed by retest of the lows and closing almost exactly at the middle of it all. Bulls keep making money buying the dips and bears are not strong enough to even get to...

priceactiontds

Good Evening and I hope you are well. comment: My line in the sand for bears was 20600 and bears actually got there but the very bullish close on Friday destroyed many bear hopes. Biggest question for Monday is now, does the bear channel hold or will we strongly break above to test the highs again? I don’t know and that’s when I will lean neutral. Both sides have...

priceactiontds

Good Evening and I hope you are well. comment: 300 point range last week and we closed near the middle of it. Bulls buy new lows and bears sell every rip close or above the 4h 20ema. Bear channel is still valid but it’s getting weaker. We have also touched my bull trend line from 2024-09 and market has formed a triangle with a nested bear wedge. No big moves,...

priceactiontds

Good Evening and I hope you are well. comment: The bear breakout finally happened. First time I wrote about 75k was when we broke above 100k 3 months ago. This bear trend is now confirmed and the only question for me is do we get 1 or 2 legs more. For now my main target remains 75000 and everything below is a bonus. The 50% retracement for the whole bull market...

priceactiontds

Good Evening and I hope you are well. comment: Bears showed strength once again and we have made new lows. Now comes the most important part tomorrow. They need a very strong monthly close below 20600 to close below the January low. Bulls want any close closer to 21000. current market cycle: trading range key levels: 21000 - 21700 bull case: Bulls see this as...

priceactiontds

Good Evening and I hope you are well. comment: Very important day tomorrow. Bulls made a new high and higher lows. A breakout above would certainly open the path to the ath-retest 23000. Bulls have defended the bull trend line so far and if bears just step aside enough, we could print a big green day. Bears need lower lows below 22280 to keep this neutral and...

priceactiontds

Good Evening and I hope you are well. comment: Very important day tomorrow. Bulls made a new high and higher lows. A breakout above would certainly open the path to the ath-retest 23000. Bulls have defended the bull trend line so far and if bears just step aside enough, we could print a big green day. Bears need lower lows below 22280 to keep this neutral and...

priceactiontds

Good Evening and I hope you are well. comment: Bears have turned 21650 (last weeks low) resistance, which is a huge sign of strength. Their problem is, that they could not break below the previous bear trend line and as long as that holds, we could have another bounce from 21400 up to 500 or 600. It’s a clear bear wedge and I think the next push down would bring...

priceactiontds

Good Evening and I hope you are well. comment: Much more neutral again, since we are exactly at the 50% retracement of the recent bull leg. We are in a 4 month trading range and the middle is the worst place to take trades, at least on higher time frames. I do think bears will get follow-through and we will see 21300 or lower next week but we could also have a...

priceactiontds

Good Evening and I hope you are well. comment: How fitting that the week where I gave up on bearish targets, that we start to see big selling again. Bears certainly surprised with the intensity all of a sudden but it’s the nature of markets that highs get retested. After such a climactic move up, it is not wise to get uber bearish on the first sign of bear...

priceactiontds

Good Evening and I hope you are well. comment: Interesting day ahead of us. Selling was strong but bulls retraced 70% of it already. If bears come around again and keep this a lower high below 22230, it would show some strength and we could expect another test of 22000. The daily chart looks much more bullish than bearish. Big tails below bars and all bars...

priceactiontds

Good Evening and I hope you are well. comment: Neutral. Biggest bear bar since November and we are close to the elections. Market printed 23000 to the tick and now what? Tops usually get a retest, which can be a higher or lower high. Given today’s strength and the timing of this move, it’s tough to hold any bigger bias for the next two days. current market...

priceactiontds

Good Evening and I hope you are well. comment: Bears started the day very bearish and printed decent bear bars down to 22200 but bears failed to find sellers below 22130 and we went sideways 22100-22200 until we saw bigger buying coming through again and bears gave up late into the day. Bulls closed it between Friday’s close and today’s open, so the day was...