We had some relief in the markets from the Friday sell-off, and maybe that was due to MLK day, or basic technicals.
Today things look bad, at least from our morning analysis, for Metals and Indices and they are the first two assets that have been added to our watchlist and they both indicate sells.
Regarding this sell setup idea, we have an over all...
BTCUSD is now in upward facing and narrowing channel (small purple dotted lines). It is approaching the top edge of a larger falling wedge pattern (purple dashed lines), and also bouncing along the underside of another medium-term uptrend (green-dashed line).
This is a convergence of competing trends.
A successful breakout above that wedge pattern points to...
I believe that the stock price of Tesla will plummet before February 2021 due to a few technical and fundamental factors, which are:
Trailing P/E ratio of 1,349.27
696.45% 52 week change, there's going to have to be a correction
Rising wedge on the weekly and daily timeframe
RSI overbought on the weekly and daily being a common occurrence
The Primed Analysis process makes us focus on liquid assets. We already bank decent gains on Bitcoin over the last few trading sessions, even the New Years weekend, but there seems to be more fuel in this up-trend! (For now at least)
Price action is using the fibs support (done our way) and what we see, after drawing the trendline, is that we have a strong and...
Price at the start of this week showed that it was very bearish with a lack of bulls to push price down but every time that price has had a dip it keeps getting smaller and smaller showing that the bulls are coming back into play. Price has also formed a rising wedge on the 4H time frame signifying that price is heading to the upside soon. Price is also about to...
Price recently has been very bearish after price rallying last year to highs. For a couple of days now we have seen that when the US market opens price rally's to the downside. There is also a falling wedge that has formed and price has failed to break resistance so Price is going to go down. I feel that price has to go down before price goes back up again and...
Price has broken out of the falling wedge pattern, looking for a retest of the previous trend line for momentum to continue to push this pair higher. Horizontal lines are taken off the weekly timeframe.
BTC has broken down from the widening channel we have been moving up in since the 4th of January. We need to hold $37600 (local support/supertrend) - $36200 (Macro Fib 2. extension) or we could see a move down to the landing zone around $34000 where we have major support from what has been the top side trend line resistance for the majority of this run. We also...
50 moving average above price
fib retracement hit 38%
take profit at the double bottom/support
stop loss just below the 50% fib level
1.6 risk reward ratio
the price action has formed a falling wedge, after this trade im expecting to trade a new bull market