Due to crypto currencies newly introduced investors and lite coins 99% correlation to bitcoin, I am willing to bet it will reach new highs just as bitcoin has in the next month by the middle of February.
The economy is doing bad, there is less spending, less spending less transactions, less transactions less demand, less demand deflation. All while the US is trying to stimulate spending through lowered interest rates and stimulus checks/programs. Causing a sugar high one could call it we experienced after the COVID crash of February/March. We are due for a...
ETH is testing the lower highs of the new channel created as the dollar has deflated. I"m going to buy at 380-370 range as I believe there will be a reversal and we should hopefully at least test the 420 range and if we are lucky the 450 which is where I will be selling.
Nasdaq, Dow, and S&P are all up, making this a much more risky trade. Tesla is entering this wedge at the top of their buying price, similar to nike last week. If we don't see a correction this next week in the Nasdaq then Tesla will be bullish but I think we are due for a correction. So hold and wait for a stronger downturn.
Gold has done well in recessions in the past and extremely well during depressions. Considering our current economic situation, gold has a driving force to keep the price moving in a bull pattern. From the last big correction it has entered this channel and is testing the lows below the moving average. Unless we see a large correction like we saw in Feb/March this...
Nike broke out of the wedge it was in and I'm looking for it to form a new channel where I can buy lower-highs and sell at higher-highs. Until then, patience.
Be patient wait for it to move closer to resistance of the channel and buy lower-highs and sell at mid-top of channel at higher-highs. Its already below Moving Average which is usually a good buying point but I'm going to wait for a larger drop before I enter my position.
Just buying high lows and selling at higher highs. Unless we see a major correction like covid in Feb/March everything should be good. It is below the moving average and testing the lows of the channel after covid. Buy now and sell after.
In the middle of a channel for the month. Gold always does well in a bad economy, I am going to wait until its at the lower end and hold. If you look at the 25 year chart it is very undervalued due to unemployment levels, housing, and market growth.
Just like in bitcoin its following the same channel, it's in the top portion of the channel, there is a wedge developing, and its above the 5 year moving average. All of these indicators are showing a bear market in the near future creating a great buying opportunity if the price drops and it hits the resistance of the channel.
Ever sense the large spike in 2018 and the correction we saw the next year, bitcoin has entered this channel from April 2019-July 2020. On April 2020 we see the start of a wedge being formed at the top half of the channel. This leaves us with two possible options I see in the future for bitcoin . Since it's forming a wedge , a key indicator for a large bear...
