Eighty_Street_Capital

Eighty_Street_Capital

The DXY has been on a tear since the low on Aug 11, bringing the #stockmarket & #crypto down in the process. Things to note: - LT Support channel @ $106 - $107 - Major support @ 50SMA back-tested successfully Sept 13 - Price holding 9SMA as support but it's going sideways (if turn down that's bearish) - LT Resistance $111.50 - $112.34 - Possible test of LT...

Eighty_Street_Capital

#ETH has been struggling ever since the successful #ETHMERGE transition to POS. This was to be expected, as I'd been warning of a "buy the rumor, sell the news' situation for weeks. Things to note: - Rejection just under GP @ $1789 - Broke back below LT downward sloping trendline - 9SMA rolling over, VERY bearish - Getting rejected @ 100SMA $1480ish - Bear target...

Eighty_Street_Capital

The SPY opened with a large gap-down this morning & is currently down -1.67%. Things to note: - Bearish cross of the 9 below the 21SMA coming up @ 1:30PM EST - Price still below BF channel - Bear target #1 complete @ $388.60 - Bear target #2 gap @ $377.80 - Bear target #3 gap @ $365 & re-test June low - RSI is oversold on 4HR TF As we're going into the Sept 21...

Eighty_Street_Capital

The ETH-merge was successful last night around 3PM EST but, as we've been discussing, so far it's turned out to be a "buy the rumor, sell the news" type of event. This isn't abnormal, as almost every airdrop/major crypto hype event that I've seen over the years has sold off hard shortly after. Now please listen carefully: - I am NOT saying that the merge did not...

Eighty_Street_Capital

The QQQ failed to re-claim & close above the 9SMA, and is now re-testing the Sept 6 low to see if it will hold as support. Things to note: - 21 SMA crossed below 50 (bearish) - Broke back down & below BF channel (bearish) - 9SMA sloping down (bearish) - Bear target #1 Gap @ $286.69 - Bear target #2 Gap @ $275 - Bear target #3 re-test June low As with the SPY, my...

Eighty_Street_Capital

The SPY/S&P500 resumed it's sell-off today after testing the 9SMA & getting rejected from it. Currently we are down -0.90% on the day. Things to note: - 9SMA is still sideways but the longer we are below it, the more it will slope down (bearish) - broke back BELOW BF channel - Bear target #1 re-test Sept 6 low @ $388.60 - Bear target #2 gap @ $377.80 - Bear...

Eighty_Street_Capital

Yesterday on Sept 13 BTC was smashing into MAJOR OH resistance @ the BF channel & LT downward slopping resistance leading into the CPI data release. The RSI on the 4HR, 1HR & 15 min were also all really overbought, which is why I said that there was a decent chance that the CPI numbers wouldn't be good. Things to note: - Hard rejection from BF resistance &...

Eighty_Street_Capital

Here's my "low-IQ" ETH analysis on the daily TF (haha I'm just being petty, but seriously). I've been talking about the #ETHMERGE potentially being a "buy the rumor, sell the news" event for weeks now. Yesterday morning I warned that the markets were @ resistance while DXY was @ support, suggesting BAD CPI news. This has played out & now here's what we're looking...

Eighty_Street_Capital

In my Disc post yesterday morning I stated that the cryptos/stocks were at RESISTANCE while the DXY was @ the 50SMA SUPPORT. This was one of the reasons why I anticipated bad news from the CPI data. Not much has changed at this point. I said last week that I thought we'd test the topside resistance on DXY @ $111 - $112 sometime around the FED FOMC meeting & rate...

Eighty_Street_Capital

The QQQ is facing the same issues as the SPY, only major difference being that the price broke & closed significantly BELOW the BF channel. Things to note: - 21 SMA still curled down looking for bearish cross below 50 - Gapped down & closed below BF channel, bearish - 9SMA looking to slope down. This would be very bearish - Bear target #1 Gap @ $286.69 - Bear...

Eighty_Street_Capital

Our analysis yesterday morning was telling us that the markets were favoring a sell-off ahead of the US CPI news. "Show me the charts & I'll tell you the news." Things to note: - 21SMA slopping down - Bull target #1 re-test 50 & 100SMA - 9SMA sideways but will turn down if price doesn't quickly move above. This is CRITICAL. Go look at what happens to charts...

Eighty_Street_Capital

Things to note: - 21 SMA still curled down looking for bearish cross below 50 over next few days/early next week - Gapped down @ open & below BF channel - now has overhead resistance of 100SMA, BF channel & 50 - Price struggling to get back above 9SMA - Bear target #1 Gap @ $286.69 - Bear target #2 Gap @ $275 - Bear target #3 re-test June low All targets are...

Eighty_Street_Capital

ETH dumped hard this morning on the US CPI news so let's talk about the chart. Things to note: - price action back below LT downward slopping trendline (once again resistance) - price below 50SMA bearish - price below 9 & 21 SMAs, bearish - next bear target range $1490 - $1520 I mentioned the other day what ETH did back at the Aug top once price got below the...

Eighty_Street_Capital

We gapped higher @ open (expected from last week). Things to note: - looking for bullish cross of 9 above 21 by 1:30PM EST - bull target # 1 50SMA & downward slopping resistance @ $12,875 - bull target # 1 300SMA @ $13k - RSI getting there but still room to grow I would expect the trendline and 50 to be hard to break at first, reason is because the RSI is...

Eighty_Street_Capital

The S&P500 gapped-up with this morning's open as expected from the bullish posturing left over from last week. Things to note: - Bullish cross of 9 above 21 - Bullish cross of 100 above 200 - Gapped up +0.50% @ open - Bull target #1 resistance @ 50SMA $4117 - RSI gettin there but still room to go If I had to call it, I'd say we tag the 50 on the 4HR and then...

Eighty_Street_Capital

Things to note: - bullish cross of 9 above 21 on daily - bulls managed to clear the 50 & 100 SMAs so far - major OH resistance @ BF channel @ $22.4k - major OH resistance @ LT downward slopping trendline @ $23.1k - RSI heated on daily & 4hr I would think that the RSI on the lower TFs would have to cool-off a bit before attempting to break back into the BF...

Eighty_Street_Capital

Yesterday I spoke about how the RSI on the 15 min, 1hr & 4hr TFs were overextended, and we got a bearish cross of the 9 below the 21 on the 15min & hourly to confirm that there was going to be a correction and opportunity for RSIs to cool-off. Opened 15 ETH short @ $1780, took profit on all @ $1725, good trade. My bottom call was $1716, so far bang on and only...

Eighty_Street_Capital

BTC has had an explosive +17.56% rally since the recent low @ $18.5k on Sept 6. Now that we've had some fun/bullish relief, it's time to have an objective look at the what the charts are telling us. Bullish case: - 50 about to cross above 100 @ 4pm EST - 9 crossed above 200 @ 12pm, with 21 following a few days behind Bearish case: - major OH resistance @ 300SMA...