For the past 9 years the S&P 500 has not been able to live outside of this channel for long, eventually it's pulled back inside like a metal to a magnet.
Zooming out and viewing from a macro scale I would say we are going to revisit the channel soon possibly after the next leg up around the election or shortly after..
Despite recent weakness in the market it seems like we're still in basic recovery channel. Notice back in June we had similar price activity compared to now... the media is also saying how recovery seems to be faster than expected etc. etc. and the Fed is backing off on buying corporate paper. So no... we're probably not about to crash.
This is a fractal i found on the 1h TF, on BTC on march deep correction, and i compared it with the current market situation. all i can say is that the correction seems to be over, while everyone is still waiting for a deep dive, maybe it is time to buy.
We've been going sideways most of the day today and I think that's a good chance to step back and watch the markets from the sidelines.
Don't chase the market, let it come to you!
This is my last post but with the breakout confirmed!
Called this direction yet again, knew it felt like consolidation.
Enjoy your weekend, and be safe.
This is a SWING trade: meaning dips can happen, it's about the targets and adjusting along the way until I've reached them
You can change your short term plan, but never change the short term goal or the whole plan already failed before it started.
Think about it, people with university degree's don't change their plan for the test because they get anxious or...
I was a buyer at 0.3 but I think this thing could easily see $1 from $0.6
Crypto and bitcoin is still clearly in a bull market, dips are for buying until proven otherwise.
This trade could be become obsolete if we break 0.5 or lower but I think that is unlikely at this point.
Bitcoin has found Ascending Support & Resistance on the Daily timeframe. Price is currently testing local Resistance turned Support. If failure to break support occurs, I think price could surpass $12,505. Creating new highs in the process. The Parabolic SAR also indicates more bullish action to come. Trading is never one-sided, so a pull back to it's support...
Bitcoin has just broken a key horizontal resistance zone. I'm predicting major bullish movement following a possible retest of the key zone. I wont enter until i see a confirmation of a retest or continuation. My first target is the previous Daily Resistance Level that it once tested & broke @11525.00. Bitcoin will definitely rise again... What is your take on...
No need to discuss the future of BNB the native token of the biggest and most famous exchange in the world !
Binance Coin outperformed Bitcoin by large measure during the 1 year BULL and 1 1/2 year BEAR market !!
... until it peaked in BTC terms on about the 20th of April 2019.
In Bitcoin terms it HAS LOST 2/3 of its value (- 64%) until today !! That's a lot for a...
My idea is that the market cycle repeats, but on longer time frame and with some delay from covid situation.
Lots of people will get rekt if my prediction is correct. I do know that I broke lots of Elliot rules, but it is what it is. Let's see
BE AWARE! IF I AM CORRECT IT IS NOT GOOD! This not only it will end with a big drop, but also dollar will be in a bad...
Price is 8.9k and a lot of people have made very bearish calls. Given the economic situation and bitcoin spx correlation, we can definately see that. That being said its important to remember last crash we spent nealy 2 months in denial of the covid situation. Even after it spread to italy and caused hundreds of deaths, market went up.. Even when a lockdown was...
I've seen many people confuse recent ranging price action as Distributive market structure but note: higher lows in an uptrend is a continuation pattern. Don't get shaken out before the ultimate bull
Target 16k by 2020
Hi
Once again we are looking at logarithmic Bitcoin chart from all the history avaliable in TradingView library.
So we have 9 years historical chart and a channel in which Bitcoin is touching it's bottom and tops. Again and again.
This year was special. The candles almost flew of the historic movement channel and I was worried that this could mean multi year...
