If the stock market does see a reversal Netflix appears to be one of the best stock fundamentally to short. It's sitting with a P/E over 80. The company has main stream adoption and dominance in their market. The issue with being the largest in an industry is unless that industry keeps growing you can't. They are valued like a growth stock without a high...
The trend line that acted as resistance for for multiple years may have seen it's first sign of becoming support. It's expect appears most people price to plummet or sky rocket. Likely that multi year trend line is repeatedly tested frustrating those looking to profit from large swings in either direction. If Bitcoin is going to decouple from stocks it will...
A few weeks ago the chart seemed clear that Bitcoin would be taking back some attention and some market dominance. You can see from my previous post things got a bit confusing. Watch for cycle change from DeFi alt to either $ or BTC.
On the daily chart you can see formation of golden cross with bounce from 50 MA very bullish. I have drawn a line on the chart where the weekly 50 MA is. This is also a key level to watch. To stay bullish Tel needs to stay above 50 daily MA and ideally go above 50 weekly MA before end of this week.
Looking at this chart Tel needs to close above 50 daily MA today. In the next few days this could be a Golden cross or a death cross. Have to see if this can bounce up.
With the up's and downs in the crypto currency industry some times it's hard to remain calm. With prices dropping today I wanted to point out that Bitcoin dominance is still staying down. If your holding alt coins that mean over all they are outpacing Bitcoin. As long as Bitcoin is out pacing the dollar on longer time frames like weeks or months your in real...
Looking at what it would have been better to buy this index fund vs Bitcoin. Seems everyone wants stocks now days. I want to look at how the facts line up. For starters lets be really clear I am only looking at time frames where the S&P 500 might have stood a chance against crypto. Here being an example of start of why start of 2017 S&P 500 vs BTC. To put...
Bounce from trend line seems to have not panned out. I has broken and we now have two days below the trendline and support line A closer look shows the break down very clearly.
The last pull back in Tesla stock went to the 200 daily MA today 200 MA is around $850 which is nearing the previous all time high. Looking at the chart on a log scale interesting to see Tesla is approaching the 3.618 Fib level. Sentiment seems to indicate that price will keep going up. Can this actually pass the 4.236 FIb level. At this price i'm just an...
ETH is still down about 10% since it's top. Rated as Strong Buy/ Buy/ Hold/ Sell/ Strong sell. In my opinion this is just Hold right now. I take a more conservative approach not really interested in every bump in the road. Normally I use daily weekly chart. Based on what I previously saw on BTC.D and ETH I am patiently watching. I think a think the long...
Very nice bounce off 50 MA on the daily chart Weekly is still struggling to break 50 MA. Looking for this to really start moving in the next few weeks. A continuation on the daily chart would lead to a large weekly breakout. If this can't break through on the weekly a continuation of this long term down trend will continue.
After multiple days of rejection at 21 Daily MA it's not looking good for Bitcoin Dominance. These rejections could lead to a further drop.
Watching longer time frame fib levels for a bounce. RSI is currently overbought. Watch between 384 and 365 price range for the next move.
Looking for a continuation of retracements to 21 weekly MA seen previously in 2017 and 2018 with BTC.
So far TEL is above the 50 weekly MA and looking like in the next hour it will have it's first close about the 50 weekly MA
$400 is a key support level and was a key resistance level. It has both historical significance and physiological significance. I am watching $407 as a short term resistance level and $400 as the support that will likely indicate the start or end of a possible retracement. Historically should we break this $400 level and start a short term retracement we could...
I have indicated on the bottom of this chart a support like that can clearly be seen as acting as support for many weeks. For this to go up it really needs to break above this resistance at 50MA after that you may see large moves.
Next cycle starting now. RSI showing moving out of over sold. Stoch RSI showing reversal. MACD waiting for reversal on daily test. 3 wicks rejected at lower trend line support. Watching 200MA for possible resistance. I expect price won't go above upper blue line.