For the BTC market, the short-term chip concentration area is the red area, and the mid-term chip concentration area is the green area. These two areas are highly overlapping The price fluctuates around the chip concentration area for longer than expected. Such long-term fluctuations will form the core chips for the next wave of decline in the short term It...
Given the lack of exuberance I expected to see at rally Point A when the stops would be hit I felt the need to re-examine the chart and make updates. Blow you will see how the trend, although slowed, is still in place with Bitcoin under the new resistance. The overall pattern I have drawn will remain for now. Barring a exuberance on price rally my outlook...
Cryptocurrency market is breaking out from descendeing trendlines (check my previous posts regarding).. global uncertainty around coronavirus might enhance further positivity. Triangle breakout in XRPUSD (yesterday close on daily timeframe) provides signal for joining bulls with quite wide stop around 0.215 and 0.365 t/p level.. (R:R=3.3) If entering the market...
Global Dow GDOW Same thing here. Testing resistance, in fact it's now sitting just a couple of points above the next line at 2930. It's going to push back up to 3000-3003 sooner or later, just over 2% on this chart. Look to buy SPX or any major market either on any retest of the rising dynamic if we get to see it- or on further strength above 2935 on this chart...
MSCI World Futures Index USD FMWO1! An excellent day for bulls all over the world. Now most markets are testing important resistance levels (Hang Seng, Sensex, SPX and Nasdaq) and are vulnerable to fairly light profit taking in the very near term. The MSCI World Index is also very close to resistance at 5873. Has to break above here to confirm further strength...
21st May EURUSD Week Ahead EUR has reached the medium term downside target at 1.1721 today after a low at 1.1718. Although it's rallied away from here as London opened as it should do, it's not likely to get very far, though. The first resistance potential is here at 1.1763, then a minor level at 1.1786 and then heavy at 1.1821-1.1836. It will need...
Apple AAPL It took 18 months for Apple to double from the low at 91.5 to a highs at 180-183 before a 16% decine to 150 (WD Gann would have loved this stock as much as GE, probably;) Like FB, Apple has closed out the week sitting on top of the structure to its left. And in classical fashion, if the 165-164 levels fail to hold from here it's then likely Apple...
Bitcoin Sunday Update Nothing has happened over the last 24 hours of trading to improve the technical picture - after breaking the bear flag formation all remaining longs closed out and those day traders who then sold did well from the highs of the new day at the 9900-9917 range. Since then it's carried on drifting lower, still falling away out lack of...
DXY Dollar Index Small counter-rally before further weakness DXY has crashed into the near term target zone at 92.74 - 92.55 (target 92.64) and bounced. It looks like it will consolidate by moving sideways to upwards, at best to test the upper parallel before it falls away again. When 92.50 gives way it should fall a further 1.5% to 91.01. This move, when...