Eighty_Street_Capital

Eighty_Street_Capital

The SPY is attempting a bounce this morning following a rough couple weeks after breaking below the bear flag channel on Sept 13. Bull targets: - Bounce target #1 Gap @ $374ish - Bounce target #2 9SMA resistance @ $380ish Bear Targets: - Bear target #1 @ $350ish - Bear target #2 Measured move of bear flag target @ $345ish - Bear target #3 re-test of Feb 2020...

Eighty_Street_Capital

As BTC is deciding on whether to find a double bottom here or set new lows, I figured it's time to discuss possible macro bottom targets for this cycle by using historical liquidity ranges & incorporating the famous 80-90% drop from ATH figures. Where we're @: - BTC is down -72.26% from its ATH of $69k - Current support level is very strong because it's both the...

Eighty_Street_Capital

The QQQ gapped down @ open again today & is currently down -1.20%. What to watch for the bulls: - Bull target #1 gap @ $280 - Bull target #2 gap @ $283.50 - Test of 9EMA resistance @ $287.85 - RSI is considerably oversold on daily/4HR/1HR/15MIN TFs (can get VERY oversold in major bearish periods, however, so don't bet the farm on this) What to watch for the...

Eighty_Street_Capital

Alright folks I've got some data that you'll want to know about. ETH formed a Bear-Flag pattern back in January that looks EXACTLY like the one we are in RN. So what happened back to the last BF? - ETH smashed into the topside BF resistance & LT downward sloping TL ON Apr 3rd - After being rejected, ETH broke BELOW the 9EMA & got crushed by it (sound...

Eighty_Street_Capital

Our FIRST DXY target has been hit! Bullish things to note: - Hit our first target @ LT Resistance $111.50 - Topped-out @ $111.83 so far - Price holding 9SMA as support & it's turning up (bullish) - Major support @ 50SMA back-tested successfully Sept 13 -LT Support channel @ $106 - $107 Bearish things to note: - RSI getting OB - LT Resistance $111.50 - $112.34 -...

Eighty_Street_Capital

The QQQ has broken back below its Bear Flag channel & has been unable to reclaim it since Sept 13. Price has been getting crushed by the 9EMA resistance & is now testing the July lows as support. Bearish case: - Broke back down & below BF channel - 9SMA curling down (bearish) - Bear target #1 Gap @ $275 - Bear target #2 re-test June low - Bear target #3 BF...

Eighty_Street_Capital

The SPY broke down from its BF channel on Sept 13 & has been getting pushed down by the 9EMA ever since. Now that we've remained consistently below the Bear Flag channel, it's time to discuss our bear targets going forward. Bearish things to note: - 9SMA curling down (bearish) - Bear target #1 gap @ $377.80 HAS BEEN HIT - Bear target # 2 & 3 gap @ $365 & re-test...

Eighty_Street_Capital

XRP has been on a tear & is up +43.87% since its local low of $0.31 on Sept 7. Things to note: - Major resistance @ 200EMA $0.48 - Smashed into bear flag resistance channel - 9EMA looking bullish - Major liquidity zone & resistance - RSI in OB territory. Could go higher but be careful I sold 30k XRP @ $0.44 because, even if it does go on to test the 200 or...

Eighty_Street_Capital

The DXY has been on a rip since it re-tested its LT support channel on Aug 11 but is starting to look a bit toppy in the ST at least. Things to note: - LT Resistance $111.50 - $112.34 - Possible test of LT resistance coinciding with the FED FOMC meeting & rate raise Sept 20-21 - Price holding 9SMA as support but it's going sideways (if turn down that's bearish) -...

Eighty_Street_Capital

ETH has been acting as we predicted @ the end of August since its sell-off after the merge. Things to note: - Rejection just under GP @ $1789 - Broke back below LT downward sloping trendline - 9SMA crossed BELOW 21 SUPER BEARISH - 9 about to cross below 100SMA (super bearish) - Getting rejected @ 100SMA $1480ish - Bear target #1 $1300ish HAS BEEN HIT - Broke...

Eighty_Street_Capital

Not much has change with BTC since my last post. Overall, the chart looks extremely bearish. Things to note: - Rejection @ downward sloping trendline formed from Nov ATH - Inability to break back into & close above BF support - 100 DEATH CROSS below 50SMA - 9 crossed below 21SMA extremely bearish - Re-test July liquidity zone, held so far - Re-test of June low,...

Eighty_Street_Capital

The SPY has been experiencing the same struggle as the QQQ ever since it broke below the 9SMA on Sept 13 and has failed to get back above it. Things to note: - Broke back down & below BF channel (bearish) - 9SMA curling down (bearish) - Bounce target #1 gap fill @ $390 - Bounce target #2 9SMA resistance @ $393 - Bear target #1 gap @ $377.80 - Bear target # 2 & 3...

Eighty_Street_Capital

The QQQ has been struggling ever since it broke below the 9SMA on Sept 13 and has failed to get back above it. Things to note: - Broke back down & below BF channel (bearish) - 9SMA curling down (bearish) - Bounce target @ $295 coincides with 9SMA resistance - Bear target #1 Gap @ $286.69 has been hit - Bear target #2 Gap @ $275 - Bear target #3 re-test June...

Eighty_Street_Capital

The DXY might hold the key to the markets direction following this Wednesdays FOMC & rate raise. Let's take an objective look. Things to note: - LT Resistance $111.50 - $112.34 - Possible test of LT resistance coinciding with the FED FOMC meeting & rate raise Sept 20-21 - Price holding 9SMA as support but it's going sideways (if turn down that's bearish) - Major...

Eighty_Street_Capital

The #SPX has been trending lower ever since it was rejected from the 21SMA on Sept 12. Things to note: - Rejection @ 21SMA @ $4.1K - Bearish cross of 21 below 50 - 9SMA now resistance & looking to curl down. WATCH OUT IF IT DOES - Gap NOT filled, expect more of a bounce possibly into tomorrow/Wednesday - Bear target #1 re-test of July low @ $3.7k - Bear target #2...

Eighty_Street_Capital

The Nasdaq failed to break above the LT downward sloping trendline last week on the 12th & has found itself in quite a bearish posturing since. Things to note: - rejection @ 21 SMA & downward sloping trendline - 21 about to cross below 100 (bearish) - 9 now acting as resistance. BEWARE if this curls down! - Filled our gap this morning @ $11.9k - Bear target #1...

Eighty_Street_Capital

We got the #ETHMERGE sell-off that I predicted back @ the end of Aug, with #ETH getting rejected @ the GP FIB @ $1790 & trending lower ever since. Things to note: - Rejection just under GP @ $1789 - Broke back below LT downward sloping trendline - 9SMA crossed BELOW 21 SUPER BEARISH - Getting rejected @ 100SMA $1480ish - Bear target #1 $1300ish HAS BEEN HIT -...

Eighty_Street_Capital

BTC failed to get back above the 21 & 9SMA since it was rejected from the LT downward sloping trendline & BF channel on Sept 13. Things to note: - Rejection @ downward sloping trendline formed from Nov ATH - Inability to break back into & close above BF support - 100 death cross below 50SMA - WATCH HERE! 9 looking to cross BEARISH below 21SMA - Re-test July...