Otradehouse

Otradehouse

In my last analysis I was expecting a move down to just below $540 (March lows) prior to rebound back to $700. While price did move down, it didn’t quite reach those levels. I’m zooming into 2 hours chart to navigate short term price movements. I am still expecting further pullback down to weekly 50 Moving average, which currently sits at $536. Based on the...

Otradehouse

Price reached 30K during fast and violent sell off, and looks to be closing day on 200 daily MA. Rebound to 51-53K is still on the radar. I can’t predict every price move, but it’s hard to not see price dipping below $20K, or down to $13K to be a bit more precise, in the next few months.

Otradehouse

Very near term seeing a possibility of price retesting March low’s of $540 (or just below it). Then expecting bounce back to $700 area. Close to 30% return on the long swing trade. This is not financial, investing, or trading advise.

Otradehouse

From technical standpoint next possible price support is around $40K on 200 Daily MA. We could reasonably expect a bounce back into low $50s (52-53k). After that price target of about $30K. If a price falls like a knife thru 200 DMA then chart becomes bleak and $30k can be reached without much of a bounce. In this case eventual sub $20k price could also become...

Otradehouse

A possible right shoulder of the H&S formation has formed in weekly chart since last analysis. It sits on 200MA on daily chart. Question becomes whether it’s actually a H&S formation or an uprising rising channel. I do not like that a neck like is on such steep angle, otherwise I would be convinced it’s H&S. As mentioned before neck breakdown would signal...

Otradehouse

S&P500 has been trending up in a channel for quite a while now. Expecting a change in this trend. Mostly likely price will revisit 100 MA, which is around 320-330, but could fall as far as 200 MA, closer to $300 mark. Recent expectations for inflations/higher rates are already driving growth socks down, which can pull down rest of the market with it in the...

Otradehouse

Daily price chart printed very bearish look. Price tried making ATH and instead we got a long wick with negative divergence to MACD. Very similar view has happened in recent month which lead to the sell off. This time we also have negative divergence with MACD on a longer timeframe. Not surprisingly, most cryptos have been failing in price in recent days....

Otradehouse

As mentioned in my previous post, price have been printing negative divergence with MACD since mid February. This indicates weakness in the trend as price was decelerating while making new highs. If price closes below $50K on daily chart, initial target would be $43k, then $30k, with a possibility of revisiting $17K. This bodes well with current market...

Otradehouse

Apple is trading up within a channel for about 6 months now. From technical point of view it should either keep trading up within a channel until a breakout into either up or down direction. Scenario 1: if possible head and shoulders formation plays out then price would break out to the downside. $137-138 level to watch for the right shoulder to form. Price...

Otradehouse

Price on daily chart is showing a divergence with MACD. Price target of at least $47k would be where first logical support resides. This is not financial, investing, or trading advise.

Otradehouse

On weekly chart price is creating negative divergence with MACD. This could lead to few results: 1. If price breaks pink channel to the downside, there would be strong case to retest $80 +/- few bucks range (previous high). This could fit a narrative of fears around higher interest rates / lower multiples. 2. If price stays within pink channel for some time and...

Otradehouse

Short term Bitcoin target $30-32k range, as for now price is still shaping up a symmetrical triangle. There is now a good possibility of prematurely breaking this triangle to the downside IF price breaches $28.5K support. If that were to happen, watch out for a falling knife down all the way to $16-18k range. This is not a financial, investing, or trading advise.

Otradehouse

What originally was shaping up to be a pennant, turned out to be a “fake” set up. At this point this starting to look more like a double top with MACD divergence. Staying away from this stock for the time being.

Otradehouse

Recent surge in Bitcoin should be viewed as part of anticipated symmetrical triangle. This would mean long entry here is not a good idea. Price is in consolidation range between $32-37k for the foreseeable future, reaching as high as $39k and as low as $30k when testing “borders” of a triangle. This is not financial, investing, or trading advise.

Otradehouse

While recent price volatility might have created a top, it also very well might have started a symmetrical triangle. Such set up would allow Bitcoin to consolidate for next couple of months. In essence price should stay in 32-37K trading range, while reaching as high as 39K and as low as 30K when testing triangle’s resistance and support. Lower highs and...

Otradehouse

Plug formed a pennat/flag on 60 mins chart. Price is looking to retest $60-62 area by mid week. Long entry looks promising at 61 with $58.5 stop loss and $106 target. That’s 1/18 tentative risk/ reward, but company is extremely overpriced already and doesn’t sound like good investment at these valuations (or at all). Latest parabolic move could propel price...

Otradehouse

Flag/pennant has been formed. Price should retest $833-835 soon, possibly close a gap of $824 (unlikely). Entry $833, target $1080 (29.7%) with a stop loss at $798 (-4.2%). Solid risk reward of 1 to 7. This is not financial/investment/trading advise.

Otradehouse

We believe Tesla is currently forming a flag on 30 mins chart. It implies bullish sentiment of the market. 1. Price is moving in downwards sloping channel (defined by parallel green lines) 2. Flag formation is almost 75% completed (Please refer to time lapse cycles and vertical blue lines) Forecast Scenario 1. a. Price moves up to red rectangle for final test...