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Friday's predictionimminent Head & Shoulders could be made from the new bounce created in today's ticker movement. As a contingency, I allow for also a decline somewhere around Thursday with a nice bounce to end off the week on Friday, as that has a tendency to be positive-vibe day for the market. However, if there's bad news to end the week, the next week outlook starts on a bad foot. Overall downtrend, in my view, has begun on its journey from The Jan-Feb spurious recovery. I believe the white trend-lines give us a viable wedge that the market will have to negotiate with, as it moves up into the corner. I believe the wedge is valid given it's intake of the relative sizes of the trends it's drawn from. Looking at the Angular fibs, we may also suspect the edge of the white space to give us strong resistance against its current, micro trend. Should the market peak on through the edge of the 100% area, I'd suggest enough volume is behind that to hold us on new ground put us in an area of good breathing room for the supports to be redrawn higher and the expectations of the overall index higher. As you know, I'm not an optimist. I'm a fundamentalist.
DJ:DJI
by thehoplite
2
BTCUSD: exit longsI'm sitting out of trading at the moment but I am charting daily! as you can see we have CLEAR BEAR DIV. on our RSI indicating a pull back, also on the 4HR we can see negligible Shorts and Longs moving up through the roof. Price acction can not trend with sentiment over the long term, ie if LONGS are moving up price has to pull back... i would look to short this price on a smaller leverage and enter in higher leverage if price action begins to increase. If you aren't interested in SHORTING than this is a good oppurtunity to exit BTC back into USD in another stable coin of your preference!! I would be looking to TP and swing down for a re-entry! please stay vigilant! happy trading homies!! ** I am glued to charts everyday trading and if not trading charting for fun! i will update when i can and i will upload when i can. My account has had limited uploads over this BEAR period however my charting and attention to trades has been as high and as full time as ever!! DYOR.
BITFINEX:BTCUSDShort
by tradingtradefortading
3
SPX [TECHNICALS & FUNDAMENTALS] rally to Feb 15 at $2800TECHNICALS - Gann fans and Fib retracements show us going on one more run. On an Eliot count, we can still be working on the 5th wave up. And take a closer look at the top 10 largest stocks... they all have room to go on one more run. Also, we didn't get a sharp dip from the 618 ($2720), suggesting we have room to keep going. Stoch is overbought, RSI is overbought (almost...), but if we stay flat on Tuesday Feb 5 we can work some of this off, and gap higher Wednesday at open. When we finally hit the 2800-28200 fib level, expect to see an impulse touch and sharp fall - similar to how Amazon touched the 618 at $1730 before consolidating. FUNDAMENTALS - Trump state of the union will be boring... why would he declare a national emergency? That's his last card. He will wait until Feb 15 to do that. Dems have no rush to make a deal bc they want to secure the 2020 election by driving Trumps into defeat. Feb 15 checks all the boxes on the technical projections. I think the Mueller subpoena is supposed to be around Feb 15 too. The jobs report was good, J Powell's dovishness was good. The general public still believes we will keep on rallying in this bull market. Sucker in the last few on this rally to $2800, and drop it hard. Side note- I also look at crypto as a leading indicator to market drops since it is a high-risk sector. BTC looks primed to jump to the top of the ascending triangle before falling as well. We are on thin ice right now though, and the stock market is starting to look (technicals) and feel overstretched. Consider or simply disregard my collection of thoughts here... but definitely proceed with caution.
SP:SPXEducation
by warrenbudget
2
Uncertainty for BTC. Would you really short here?After an infinite bearish trend, BTC is showing less selling power as the all-time low (since Jan 2018) is every day nearer. Our suggestion now is not to short but actually wait and trade at the break-outs. Fundamental Analysis If you like to read online news, you probably have noticed that the news about Bitcoin and the crypto market are so discordant. We have analysts from all over the world that call the near bottom, articles on ATMs that are growing, articles about lighting network which is improving, articles about the future trillions dollars value of this market... And analysts that call Bitcoin at 0$, that focus on infinite bearish trend and lack o real use. The result is a moment where the market has less interest than usual. Bullish scenario Technically, we are approaching the 3.000$ support that made the price bounce 50% last time, and selling pressure which is actually weak. If the bears fail to break the 3.000$ support, we will retest the actual resistance around 3700$ and 4000$. Bearish scenario The lack of volumes, could be a sign of continuation of the trend, and a way for the bears to keep pushing down. If they could really manage to break the 3000$ support, then it's again time to short. As we precedently mentioned, we expect a bounce from the 3.000$ area again, so if your plan is to short now, pay attention. Pay also attention to the support/resistance level and trade the breakouts Not a financial advice, trade safely! BFCM
BITFINEX:BTCUSD
by BFCMInvest