Breakdown
Dow in C leg of ABC Correction: Bounce After or Rejection at TL?Chart says all. Looks quite Bearish but no capitulation as of yet. C waves tend to be fierce and furious. See what it does when Gap fills from 9/04.
Bulls will likely return for another crack at ATH if they can hold the line near 26200. SPX should find support near 2900, at least in this first downdraft. Second support at 2860; breakdown through these levels will likely lead to panic selling and capitulation down to August prices or lower. It is possible a Bear Market is beginning, but too soon to tell.
Have to see if an ATH can be developed by EOY. Trade day-by-day now and hold ur hand close! Rejection from the wedge TL on a bounce could lead to a fully developed 5-wave Elliott impulse downtrend. Failure in China will certainly precipitate this kind of Bearishness.
RUT is getting killed and shows greatest weakness. Expect Flight to Quality to boost US 30 more than NQ, RUT. SPY has been most Bullish of these and might suffer less.
Just an idea, not advice; trade at your own risk!
Revival or BreakDown?Tomorrow Open and Close will be Cruical as Bearish pennant Broken and lower channel is likely to break.
Watch and trade carefully as key support levels are evident.
...eitherway the price broke down symmetrical triangle (gray) where price should be in a continuation of the prevailing trend (in this case should be up)
or
ascending triangle (blue) where price should breakout and continue in an uptrend...
which ever you were looking at the price broke down... we might still be in a sideways range... but I feel the risk is to the downside.
This is what i see here BitcoinI am ready to take the risk, if wrong and stop loss hit, i will market buy a break upward.
Alts up at the end of consolidation, this could be a trap for alts and a capitulation down with bitcoin... Lets see.
Enjoy
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If you're interest in my indicator "Lady BTC BOTTOM" check the link below:
BITCOIN PRICE IN TRIANGLE | PUMP OR DUMP ?it's not easy to see what is going to happen this 4 hour candle is very important if this rejected than Alts party is on
last time we breakout but didn't pumped well 2 3% for bitcoin is not a good momentum so opposite can be happen we can pump from here too.
bitcoin dominance also down from 70.40 to 69.20 .. (1%)
alt market cap broke out of falling wedge that's good and this bitcoin dominance going down and rejected
Wait for this 4 hour candle close and trade with proper stop loss and book profit wherever you get.
bitcoin dominance chart With Elliot waves ... other small pattern already invalidate this is the perfect match if we are moving according to this than we should be careful this 4 hour and yesterday candle is very important
If Bitcoin Repeats History? Descending Triangle Looking SimilarThe daily bars of the 2018 descending triangle are starting to match the current 2019 descending triangle. If the bearish breakdown also repeats itself in the same way, then this would be the outcome, continuing on from where the charts fit together. Notice how a similar bearish breakdown would take us to the 200 Week MA, given its current trajectory. This would be long-term bullish if this happened, ie finding support again one year later $2K higher. I'd therefore find it unlikely to return to a bear market, or even continued consolidation (which would both be under the 200 Week MA).
Google. Approaching Headwinds- GoogIndustry:
Google is a Multinational Conglomerate within the Internet Services and Technology Industry.
Assessment:
Looking at Google from a technical market perspective will surely increase shareholder weariness. With steep bullish accumulations and the price bracing near all time highs we can definitely expect an increase of exchange activity. Long Term Investors are expected to offload partial positions while the entry bulls will likely start to sit sidelined waiting for a more conclusive consolidation structure. Although the long term profitability, market share domination, and future prospects of Google’s operations appear through its fundamentals integral and sound, technicians may observe an overall high evaluation. The stock currently trades at 29x earnings. This may invoke a temporary or prevailing bearish beta trend in the short term. We examine the protrusion on the exterior of the macro support line. This is a signal for potential price breakdown. However, keep in mind that a short term devaluation does not necessarily signify a reversal of control from the bulls to the bears.
Micro Market Climate:
Canary Jones assess’ a bull controlled, “bull-bear push” trending market condition categorized by increasing bullish accumulations being “pushed down” by selling activity at high resistance regions.
Patterns Identified:
Narrowing Wedge
Bullish Flag
2 Measured Moves Up
Fundamental Ratios:
Long Term Debt to Equity:
2.22%
Quick Ratio:
3.93 Declining
Current Ratio:
3.96
ROI:
14.28%
ROE:
16.26%
ROA:
12.38%
Net Income:
$30.74 B
P/E Ratio:
29.28
EPS:
$12.78/ Share
EBITDA:
$16.53
Gross Profit:
$77.27 B
Source: Google
Potential Risks
Devaluation:
Due to a supposed algorithm change on Google’s popular YouTube platform, Google’s market cap has been devalued by $70 billion dollars. An enormous sum and a testament to the negative net return of YouTube's primary operations for Google's long term prospect.
Regulatory:
Due to the impressive market share dominated by Google, numerous countries have moved to place particular regulations against Google and a variety of online tech and social media companies. Googles size and web traffic places attention on the company which may position the company at risk of future regulations regarding the companies flexibility with online content. Numerous anti-trust probes in both Europe and the US have recently sparked wide controversies regarding the companies operations.
AAPL Pennant Apple pennant on the hourly and daily has been squeezing for a while. Watch for the break this week, direction will depend on other heavyweight techs and S&P if they break the trading range.
#bitcoin - Descending Triangle?Yesterday / last night have destroyed our symmetrical triangle on Bitcoin and pushed it towards the $9k. Most of you already know, that this is anything else than a bullish chart pattern and may break very soon OR can still swing for a while, up to a couple of months possible.
We are already within the red support key-level and need serious, serious bulls to turn this picture if we want to grow mid-term.
The overall target of this descending triangle would be around the old consolidation support around and just below $6000. Keep this in mind, there are already a lot of people short or sold, and not ready to buy back just yet. Quarterly Pivot is also endangered.
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Warm regards,
Neru
On the Edge. Fly or Die?Talk about riding the line! What do you guys think? At this point I am going the traditional approach of waiting on the sidelines for some form of confirmation. I am not good enough yet to trade this chop. ;)
tvsmotorgave inverted flag breakout on downside. can sell on given levels and keep trailing sl for booking profit.
keep it simple
#ethereum - Falling Wedge & Key-Support "D"Ethereum did not manage to overcome the "BO-Level" after it bounced off a former breakout-bevel and is yet not showing any signs of recovery. It´s the opposite, producing a trend-follow H/T right now, was not a very good start also maybe printing a hidden bearish divergence today.
No reversal signs are seen on Daily so far. Although passively sitting on a rather bullish falling wedge, this does not mean we cannot go lower to the key-support around $163, where also S1 Quarterly and Monthly S1 Pivot sit and wait for the price to touch the ground.
As usual, I have labeled important prices. The trend is not yet grown up bearish on Daily.
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Warm regards,
Neru
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Charts made with:
Key-Levels & Trendlines
bearflag poentially breaking down...target 8.6k?breakdown no confirmed just yet but probability is definitely favoring it now as we can see price acion now firmly under the 4hr deathcross. If price action cant climb back above that deathcross then both the bearflag breakdown and he death cross will be sustained/confirmed. this is the perfect spot if the breakdown is confirmed for price action finally reach that 8.5k gap on cme futures chart bit of course the smart trader will make sure to buy back in a few pips before that and if we continue to fall and hit that target to also buy the dip
$SPY Bulls Have Control As Long As $273 HoldsDips in the $SPY can be bought down to $273. If $273 breaks, look out below.
Good luck to all!
