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Mind the Gaps BroCheck out my new blog post: www.derzzycharts.com The SPX has more holes than the Swissy! We’re talking big swiss cheese holes. They are up, they are down, they are all around! So how can we see this playing out? Well we can look the momentum that is currently taking place and assume the upper gaps will be filled first. Its a stones throw away at roughly 3% upside. As for the other lower gaps? Well that is a little less certain. We would have to see volatility return with a vengeance to see that happen. We are talking VIX 50-70. If we go down to the last gap, I would say that we go below the 2200 support level. This would also give us room for a bullish divergence on the weekly RSI, which is a good indicator for the start of a new bull run. But for now, all we are looking for is a place to take some profit, and seeing an RSI bearish divergence on the daily would be a signal. We need to see the price put in a higher high and the RSI put in a lower high. A key thing to remember here is these gaps don’t have to fill in the short term, or even at all! They could fill years down the road if we go to 4000 and go through a 50% correction. It is just important to know that they are there. We will stick to our process and be bullish until we see an RSI bearish divergence on the daily. Happy Trading! Brandon Anderson brandon@derzzycharts.com @derzzycharts www.derzzycharts.com
TVC:SPXLong
by derzzycharts
3 big drops since BTCUSD ATH and the next move is going to ...Given that: For the time being, Bitcoin (BTC) is well correlated with traditional markets. What this chart shows me: Bitcornz on the Weekly TF. 3 major drops since ATH. All the bullish rallies and comebacks to date have yet to really break free of the downtrend, however it's above it longer now the previous times. it's like watching an asset dance on a knife edge for as long as it can before it makes the next move either way. How The Biggest Whale Affects Everything: As long as the Fed keeps buying the FAANG bonds and basically p0wning the market / transforming the USA into more like the USSA .. central Kontrol over everything. ... well as long as the charade lasts, trads keep up the PAMP and bitty may ride along, for now, anyway. The Great Comparison: However if you look at the markets compared to right before the Great Depression ... Well ... it basically looked a lot like this. See DJI for example. Highly overvalued stocks being propped up by artificial cash infusions in to the markets. and there was a signal dump and recovery and then shortly after there was the big drop. It looks an awful lot like that now, too. of course systems are "stronger" now but still ... the system is also so much bigger .. the damage from any crash now or in an even larger, more centrally controlled future, will be proportionally bigger as well, in all likelihood. WDUT?
COINBASE:BTCUSD
by stepstones
Is A 1.6% Upside Target Worth The Risk?Without carefully crafted historically backtested strategies, the kinds of trades available on short-time frames within the current market structure are high risk. Check this one out. 3 'white soldiers' candle formation on the 4 hour chart. Looks good. MACD pushing up. But look at the overhead resistance level. It's just 1.6% above current price. Would you risk leveraging long for such a small move? Or would you wait for stronger momentum on a higher time frame?
Long
by Sparkster
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