SPY re-testing the top of a wedge... a bounce could mean all-time highs before the recession, a fall takes SPY back down to the long-term trend line. Tread carefully, but despite all the warnings about a credit event both scenarios are still in play, particularly if the "credit event" is not THE credit event
Time for another BTCUSD big move. Clear triangle forming. BTCUSD has been holding up really well, so could be setting up for a continuation move. Of course, triangles can go either way.
wait for confirmation of course, but the powerful upchannel has been broken today. Still could pop back into the channel tomorrow though. If not, testing the next line down is a strong possibility
Lumber to Gold ratio having a nice repair, but if it bounces hard off the uptrend line, look out below! If it consolidates underneath could be an opportunity for a rally earnings and the consumer may tell the tale
The SPY up channel is still intact. Bears time will come but a few things have to happen first, and several supports on the way down. Waiting for the other shoe to drop can take a while.
Look for signs of confirmation but this is potentially the start of a long signal. Target is the top point of the start of the wedge. This is not financial advice.
Anything can happen, but this is a bullish pattern coming from a downtrend. However it also means that if there isn't a bullish breakout, there's a long way down.
This triangle on the S&P 500 is still holding. As long as it is still inside there is no way to be certain of direction. Look for a breakout and the re-evaluate.
After the last spike the picture is confirmed. Here are the key lines of very-short-term support and resistance. Anyone who is convinced we are going down or up from right here in the short term would surprise me. The battle is clearly on.
There is a potential breakdown in the recent uptrend of the Lumber to Gold ratio. Watch Gold, if it keeps going this week it could have a nice run. If it falls back then the uptrend may be intact.
The futures are looking pretty dreary for the S&P 500 but it could just be a test of the bottom of the upsloping channel.... market is selling off but is there really any thing new or surprising lately?
Not at all surprised, now let's see if BTCUSD can stay above the channel and break through 28.7k, or if we go back into the channel and drift down to test the channel low. Still in the ascending triangle for now though
This week was awesome for Bitcoin.... but can the Bollinger band remain stretched? Long term good news for Bitcoin if it holds the 21 week EMA, but that will take a few weeks to find out. Break the 21 EMA and might go to test the lower Bollinger Band instead.
BTCUSD has reversed after retesting the epic monthly support, and has now broken the big up-sloping resistance line. All depends on how the month closes and if the next month confirms it is game on.... if the resistance line is lost could be big trouble.
You can see that BTC.D is heading straight to test BIG resistance at 48.75%. Either Alts run there, or the markets are crashing and BTCUSD takes crypto share, or BTCUSD lights on fire. This is definitely worth watching.
BTCUSD now above the big up-sloping channel AND the mini up-sloping, but hitting severe resistance. Not Financial Advice: Lighten up on positions if you are exposed to too much crypto/risk. If it breaks through resistance and runs; you won't regret having lightened up. If it falls back down into the up-sloping channel you won't regret it either; can buy it back...
Big resistance line being tested by BTCUSD on the monthly.... getting back above would be bullish. On the other hand, if this turns out to be a failed retest, might be bad news for BTCUSD
If this forms a cup and handle, could mean relative outperformance from Bitcoin in the future. There is no doubt that Bitcoin is perceived as the safe haven crypto. The only question is does dominance go up due to inflows, or due to altcoin outflows.