Genedrive is great value here - slow bleed bottomsThe selling power is dropping there is no more volume on this slow bleed. I think we are forming a bottom here finished a 5th of the C of the B and will move up to the larger C from here. Counts well with a finishing 5th wave now poked lower and strong divergence on all timeframes. There is one more option though that can happen (pictured in grey lines) is that we go up for a C of the 4th wave and then the 5th down even lower, I think it is less likely. Well if no news on sales still in January the poke lower will be possible. With GDR I just dont know when the news will drop. Back in May if someone tells me we get to see the first person vaccinated before Genedrive PCR test fills a single sell order... ffs Budd, just take it easy.
The safest entry would be on break of that downward trend line around ~90p
Targets remain as always ~x10 from here. IMO, DYOR
Bottoming
$NBY The weekly chart is Absolutely Gruesome!
The Longterm Downtrend appears to be closing, bottomed in May, double bottom is in and a Golden Cross is very close on the daily chart. Shallow Uptrend is in play, we should hopefully see some strong action coming into May 2021.
Hopefully those holding longterm should get some relief. Swing Traders may want to "LOCK AND LOAD". Cheers!
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GBP/NZD. Maybe time to long it. 2day TD9 buy. bottom of linear regression channel. Oscillators very oversold with god mode triggering caution dots on the bottom. The monthly camarilla breakdown levels have also already been hit. I think its about time for heavy relief
Possible break above bearish channelAn attempt to break free from its long-term bearish channel is imminent. Recent support pegged at $6.15, a close below it will signal continued bearishness.
PRTY - Potential Bottom Swing PlayParty City is in no way sheltered from the current state of things. Most stores are probably shut down, but with all the increased buying I believe we have hit a bottom and can break up to an upper channel off its most recent move.
I do not have any shares of PRTY but will be looking on monday to buy in the area of 0.58-0.61 if I get the chance. First price target is 1.18 and depending on how strong the move is, I may ride some up to 1.66.
This is only a swing idea, I am not necessarily bullish on PRTY, but I do believe in the swing potential setup here.
VIX - Bottoming out , be prepared for high volatility. VIX - Bottoming out , be prepared for high volatility.
BTCUSD Bottoming Pattern? A potential outcome.Bitcoin historically loves prominent double bottom patterns on the Daily/Weekly timeframes before going on to rally.
Considering the current market outlook with CORVID 19 being a catalyst for an economic downturn across the board, I would not expect Bitcoin to simply move back into a bullish rally before establishing a low with an accumulation phase.
This chart represents that possible pattern supported by my custom MA algorithm.
CANOPY GROWTH TSE: WEED 1DAY Bottoming PatternPossible Bullish Reversal pattern. Potential for high % profits for Canopy Growth. (Canadian Cannabis Stock)
Let's Revisit Futures Past For A MinuteI'm not saying you bought the top, but i'm sure we haven't bottomed.
Don't get caught buying War FOMO my friends.
I could be wrong, but doubting yourself will only get you Rekt in the long run.
As Always DYOR and safe trading.
CSX Bottoming FormationCSX is in a bottoming formation with higher lows but consistent highs within the bottoming action. The candlesticks are now in a common compression mode with moderate volume supporting upside action.
MRO Bottoming ImprovementMRO is forming an intermediate-term bottom formation that is slowly improving.
MACD CrossImpending cross on MACD weekly, I believe the bottom is in. We are now in the accumulation phase in marijuana stocks. All the big name players are heavily discounted, mostly due to overproduction in the last quarter.
This is one of the best Marijuana ETFs out there, much more stable than the concentrated growers ETFs.
ATVI Bottoming DevelopmentATVI has been in a long-term rounding bottom formation. The first attempt to complete the bottom failed, but another attempt is underway. Normally, it takes 3–5 attempts to complete a bottom of this duration.
MMM Bottoming Attempt FailsMMM continues to show weakness in the attempt to bottom. Currently, the trend is at risk of continuing to move downward. The stock has failed to break through weak resistance in recent runs upward.
Crucial pivot point : Altcoins are in trouble if no higher highComparison of a same bubble structure between the Silver bubble and the total market cap of crypto (exl. Btc)
If alts don't produce a higher high around here, then new lows are to be expected, with a slow and long decling of several years.
Of course maybe a few alt coins will probably survive this pattern and will show a more bullish pattern than shitcoins and other alt coins, but this is a very important warning, as this bubble structure is so far 100% identical.
Humans reproduce the same patterns on charts as our behaviour and nature does not change, and will never change.
I am absolutely not against Alts beeing destroyed, as a large majority of them is a cancer to this space, and the crash of the majority of alts would educate the market in the way of driving dumb speculators into bitcoin maximalists, which is not worse.
A little zoom in shows the Smma totally blocked the upmove of the altcoins market cap :
Daily shows a golden cross, but the moving averages are already pointing to the downside, so i don't exclude a bearish cross to happen.
Last note about the Silver chart that produced the exact same bottoming pattern as the Bitcoin chart of 2015:
NVT pointing to a deeper Bitcoin correctionNVT has exited the OverBought condition after 3 months. And this event offers multiple layers for interpretation:
The local top at $13k-$14k got confirmed by the NVT.
Looking back in history, we see that after this event happened a severe correction was due along the next weeks/months, pushing price down between 50%-70% which would bring us into the $4k-7$k range.
Alternatively, a more classical interpretation could suggest that not so deep retracements are needed to alleviate the overextension.
To the point that the Bitcoin network matures, the corrections might soften compared to the ones we've experienced in the past.
Therefore we have 2 scenarios to consider:
1) This time is NOT different scenario , which would bring BTC back into the $4k-$7k range.
2) And the This time IS different scenario , which would be content with a softer correction and seeing BTC bottoming in $8k area.
Please note that both scenarios assume printing a higher low above the $3100 December lows .
So, all in all, that's a good thing to build a proper market structure to support the next up move beyond all-time highs at $20k.
NOTE: I’ve plotted the information on a 3-day chart for better visualization. But the NVT data is based on daily candles.
NVDA: Filled gap down, watch for pro trader pre-earnings runNVDA has filled the gap down from the negative earnings reaction in November 2018. The stock is likely to consolidate or shift sideways at this resistance level if it is to build energy to move higher. There is some Dark Pool accumulation in the bottoming pattern. HFTs have gapped this stock on earnings news in the past. Earnings will be reported May 9th. A month out is a good time to start watching for the pro trader patterns that lead to momentum in a pre-earnings run.
The Bitcoin market is probably bottoming.Bitcoin is starting to form a similar structure as the bottoming structure of 2015.
No double bottom, no spring, no true recognizable bottoming pattern yet, but the market is possibly stabilizing Bitcoin in this area after a V reversal.
The 1week log chart shows some possible similar ranging between the 2 main Smmas:
This is very encouraging for now, unless of course some drama happens and Bitcoin falls below the 3.000$ support zone, but this scenario is now becoming less likely in my opinion.
Locally, the 50 Smma is forming a very strong resistance, and a false breakout of this 50 Smma with a pullback to the 3500$ region is not to be excluded.
Ethereum is above the 50 Smma, last seen around 1 year ago for a fakeout
Same goes for Litecoin
Xrp from Ripple isn't there yet, but it could be bottoming as well
OMG XRP the next two alts to go for 200 % ?a lot of acculumulation over the past two months we could still retest these levels but breakout is also likely and reward is good so I wouldn't hold back too much here could see a few days of upside on these two if they run
symettrical triangle wanna see big vol on break out of trend linalso dont like entering unless scaling into position until the candle is actually closed
1 hr time frame
daily could consolidate further
Bitcoin: NVT anticipating a down moveThe NVT indicator is anticipating a down move in BTC.
We can observe that the recent drop to 3400 has triggered the break of the NVT Trendline that we were monitoring for the last days.
That signal is anticipating a near retest of BTC bottoms around 3100 area.
If the test of the lows would fail, then we'd focus on the harmonic targets that sit below 3k area. I've drawn here a 1.27 Butterfly, but there are lower targets that could unfold.
For the next days, we will track the crash of the NVT indicator. The closer we are able to get to 45 area, the bigger the chance that the bottom is in.
Currently, NVT is about 87. We want to get a close confirmation below the trendline.
