Coinbase is showing a triple bottom pattern with the 220-225 area proving as demand zone. The price has been consolidating and RSI momentum building going into Q2 earnings report which investors are optimistic about with cryptocurrencies becoming more mainstream in recent months. There's currently also bullish sentiment with Bitcoin breaking out and positive news...
BABA broke out of it's downtrend channel and retesting the breakout point around 208. This presents a good risk/reward setup opportunity for continuation to the upside. BABA August 20 calls are actionable. Idea: BABA 08/20 call spreads 225/230
OPEN is presenting a good swing trade setup from risk / reward perspective. An entry of 17.20 and a stop loss at 16.50 (risking $0.70) with a first target price of 20 (reward $2.80) 1:4 trade idea.
$BTC is showing a potential head & shoulders formation on the weekly timeframe. If pattern plays out, this puts Bitcoin at price of 20K (downside move the length of the head is 40%)
Wish is garnering a lot of momentum and bullish sentiment. The company is undervalued (8b mktcap), is a e-commerce giant, arguably inflation friendly, and has a large percentage short float ready to get squeezed to cover. The levels to watch going forward are 15-15.50 as it breaks above a major moving average, psychological level 20, and IPO price level 24.
ALGO found support around .33 and .34 area and broke back above .40 which is a critical level tracing back to beginning of 2020. Prior to the breakout the price action was moving below the moving averages (5EMA / 12EMA), with the breakout back over .40, the price action jumped over the moving averages which signifies a reversal to the up side. Additionally, the...
