JamesRennie

JamesRennie

Found resistance at 17.60 and support should be at 15.80 expecting price to continue this bullish movement after another sideways accumulation. Look at the diagonal trend line moving up the will likely act as a bottom till the market can build enough support to break $18. RSI is showing trend reversal. This wedge will have to be broken out of to keep seeing the...

JamesRennie Updated 

Bolligerband is almost exactly matching up with horizontal channel now. Need to see increase in historical volatility for 2 standard deviations to grow and possibly start to show a movement out of the channel.

JamesRennie Updated 

Interesting to watch change in sentiment as days pass by a day on the market up see excitement. Day of the market down people giving up. Most of them were not even day trading just riding the roller coaster. Bitcoin is still trading in wedge and staying above 21 daily MA.

JamesRennie

Silver spot price has been completely disconnected from physical price of silver for couple months now. As physical markets have been sold out and spot price was going down. I am looking to find resistance at $18 temporarily before a breakout from the trend line from previous to tops. The longer term trend not showing higher lows and higher highs yet. Though...

JamesRennie Updated 

Last week PLT broke down below the lower trend line. In order to see a recovery this week it must stay above the lower trend line and keep moving up. We might ever see $18 before the end of the month. RSI and MACD are both in a good position to allow significant upward movement. Stoch RSI appears to have just signaled a trend reversal towards bullish movement.

JamesRennie

Can't feel the affects of inflation yet because the money that has been added to the financial system has not started to move yet. If we look at the comparison M2 money has increased by over 100% since 2008 yet the flow or velocity of money is down 30%. Keeping in mind that since the start of 2020 there has been an increase of M2 money around 16%. While many...

JamesRennie

It's funny how fast this is going up 16% in the since the start of the year. Sadly most people don't know anything about M2 money or Fed money printing. They will be the victims of this. Though I do believe it's best to not live the victim life. People should be educating themselves rather then blaming others. Regardless it's hard to watch people go rough...

JamesRennie

S&P 500 is above 21 daily MA and 0.618 Fib level. It is coming up on $3000 if it gets rejected at $3000 I expect we could see new lows. If it breaks above $3000 then look to break all time highs.

JamesRennie

If 21 daily is broken and MACD continues it's reversal expect cycle to change to alts.

JamesRennie

Bounce off 21 weekly could show the start of a bull trend. Looking for price to stay above 21 weekly and pass February highs.

JamesRennie

Looking for silver to find support at old resistance by May 25 where horizontal movement and diagonal trend line intersect. New resistance is likely in the 18 to 18.50 range. Physical and paper contracts still are not matching up in pricing. Though RSI is still worth watching as we might enter overbought territory temporarily.

JamesRennie

Currently Bitcoin trend has been upwards. As long as it does not break below the lower trend line in wedge it should be continuing upwards. It could take till late June to break out of the wedge. A breakdown out of the wedge would show trend reversal switching it to bearish trend. A break out above would breaks long term trend line from 2017 of downwards price...

JamesRennie

Comparing angular growth on linear and Log chart using angles to compare recovered and confirmed cases. The linear chart seems to suggest that recovery rate could soon overtake confirmed rate. Log chart shows the exponential growth of both lowering. With the exponential growth of recoveries being slightly faster.

JamesRennie

Possible trend reversal on May 7th. Looking for reversal on MACD indicator.

JamesRennie

Stay above 21 daily MA at 11900 and 21 weekly MA at $10900. A break below 21 daily would be bad as it's showing signs of acting as support. A break below 21 weekly would show a likely change to bearish trend. I have written about the significance of 21 weekly MA before. The Price is pushing at top of bolligerband with 2 standard deviations on the daily chart. ...

JamesRennie

With upside being around $10k at upper trend line. Support is at $8700 at lower trend line with stop loss at $8400 . With a risk reward ratio around 6. This can for sure go down my thoughts are that risk reward of 6 justifies the small downside risk.

JamesRennie

BTC may have been rejected at 21 daily average but need to get back about trend line today or tomorrow. Otherwise trend reversal to bearish is possible.

JamesRennie

Watching for BTC.D to stay above 66.69% looking for a dip in price on the daily chart RSI showing over bought. I expect this means one of 2 things. Ether Bitcoin will rise fast then alts or that the market will drop but Bitcoin will drop slower. As long as BTC.D is above 66.69% which is 21 weekly MA I think Bitcoin is safer to hold then most alts. I don't...