Either a short down to 36ema (1.40) level as TP 1 as a pullback and retest of the supply zone we are currently at, trying to break through 1.42 level afterwards,
OR a bigger pullback down to TP2 (at this point, either a deeper pullback to retest the highs later OR a reversal, the former is more likely).
The two arrows represent scenarios to look out for.
Seeing as some psychological supply levels have been broken I see this crypo continuing this bullish trend. Aiming for the all time highs of around $3 and expect a new all time high to be set similar to etherium and bitcoin.
M pattern forming (with 3 trendline rejections, the 3rd currently rejecting)
Parabolic run up while the rest of the market was either ranging or moving up slowly
Options expired yesterday, so could see a further move downwards as we have seen in the past after options expire
Nearing the end of the week/month
Its currently the weekend where we usually see a...
Reasons to sell
Overextension of the RSI on the 4hr
Bearish DIV on 1hr and 2hr
Last time we saw a move like this was 04 Nov 2020 with a 20% correction happening
Strong resistance at $6
Head and shoulders still intact (but subject to change as we are in a bull run and this is a bearish pattern) low success rate in bull runs
Could see price revisit $4.80
The DAX has broken out of its 5-year long channel, with the last time being early 2018. This time, however, there is substantial support found around the 14150 level. With the ECB speeding up their PEPP in order to quell rising bond yields, the DAX is fundamentally poised to continue moving up.
The ZEW Economic Sentiment comes out on Tuesday, which has previously...
price broke into support and I waited for a pullback into supply zone, price pulled back as expected and I again waited for a sell confirmation... Price gave us a long/strong bear candle 7/10 times price retrace before continuing in it's expected direction. I will drop down timeframe and try to catch the move.
Stops and Target are made visible in the screenshot...
Price is trading at a supply zone on higher timeframe and I believe what I see here is a broadening wedge pattern.. I want to see break of pattern and a new lower low structure form and get in on a pullback.
Targets are made visible in the photo above.
As mentioned previously on my ideas and on my videos I have said that I expect the sp500 to crash down to the 3500 area. It appears as though we are continuing that trend downward, hopefully we hit that 3500 level for a HUGE trade to the upside. Lets GO!!!!