For me, BTC is undecided. I’m personally direction agnostic and think it could go either way. But, this looks pretty bear flaggy to me. Higher lows and lower highs point to the tightening inclined range, on the backdrop of the first initial downspike. I wouldn’t be surprised to see more of the same.
If we breakdown from the lower range, I’d expect at least a tag...
I think the market has overreacted in the last week and this ETF is oversold. I'm targeting it to get back to the 17 level to be within a normal range while it consolidates and awaits vaccine news.
A red day across the markets may bring this bearish technical view into play. Looking for a breakdown today, with more extreme pressure down to the 290 level.
For me, this looks beautifully setup for nice GDXJ out-performance for the next few months. Rebalancing accordingly.
Fundamentals for the juniors are solid, as well as this nice technical setup. Looking strong.
Any contrary thoughts?
Expecting considerable upside with this ETF.
Three key targets listed as potentially only the beginning. Obviously fundamentals are important too, but I fully expect the world to progress sufficiently and allow this sector to grow effectively.
Gold is on an absolute tear. Technical and fundamentally it is primed for a hell of a year. I'm expecting a pullback at some point, and believe if the weekly close is below 1478 we will get one.
Otherwise, we will be moving on to 1580.
