Taking a look at possibly the 3 most important charts for any trader; VIX, SPX, and USD 🔮 With a massive rebound in equities, crypto, risk assets, we're seeing much chatter that "the bottom is in". Although we've made some nice trades in this week's pump, we don't think we're in the clear just yet.🥶 You don't have to look too far either. Looking at the VIX 1W...
Taking a look at the SPX Daily chart.🍿 We've drawn out 3 dip + rallies to illustrate that a 4th dip might be on the way. ⬇️ After being rejected at 4000, we can see the path down to 3300-3400 looks increasingly more likely. 📉 This combined with an expected/rumored earnings slump & lackluster Q4 for companies...🥶 We've also thrown on the US Equity Gaps...
Looking at the BTC/USDT 1H chart, we've mapped out some key price action.🔥 We can see a clear Bull Trap at the start of November following the FTX induced crypto crash. People thought Bitcoin was on the bounce back...📈 Until it wasn't. We saw a grind down in the days following the 1st relief rally. Which brings us to Bull Trap 2. This relief move up played out...
With global political tensions on the rise, the expectation for crude oil price seemed to be bullish across the mainstream media. Everyone seems to think that war=high crude oil prices. This is true. However OPEC+ just said they will likely be upping production in Jan 23 so price has been plummeting. I was actually surprised that price wasn't moving higher yet...
Looking at the Bitcoin Weekly chart, we point out a few key ranges. 📊 The first being the astronomical money-printing fueled pump back in 2021. This range is the backbone of why most, us included, are so bearish on Bitcoin and crypto in general. At least in the short term (we're bullish on crypto very long term). Thanks to the FTX circus, we've just recently...
Taking a look at 2 charts on this one. The left being right now, and the right being end of May into June when crypto took a significant nosedive.📉 We can see that the two charts are eerily similar. We've experience a double top at the 16800-17100 resistance. The last time we had a double top at a significant resistance level, we had a drastic drop to the...
Taking a look at the SP500 Daily with our US Equity Gaps indicator, next to the VIX Weekly. Looking back to the start of 2022, we can see a series of "controlled" selling, on our grind from the 4700s, down to 3500-3600.📉 Compare that to the VIX, we can see the stock market has yet to experience a true black swan. See the 2020 mega spike in the VIX. Whether it's...
With Bitcoin getting some decent rejection at $17K, overall sentiment is looking quite bearish for the king of crypto, and crypto in general to be honest.📉 FTX shenanigans aside, Bitcoin showed weakness as Stocks pumped like crazy for the 1st time since 2020. 🥶 Looking at the BTC/USDT 1H chart, we've mapped out a short term range from $15-17K we can see Bitcoin...
Fun one this morning looking at the DOGEUSDT 1H chart. Elon's latest tweets + his continued support for the memecoin over the years has DOGEUSDT actually consolidating & "potentially" finding support here. Will we get a mini DOGE szn? 🚀 Trading memecoins right now is like playing with fire if you ask us, but nonetheless we might see some strong % gains to the...
After one of the biggest rallies since 2020, we take a look at the SP500 Daily chart. We've thrown on our US equity gap & stock market breadth indicator to show some potential price targets. It’s looking like we might be after the 4100 gap before falling to the 3400 gap. The breadth indicator buying (bottom indicator in screenshot) hit numbers similar to 2020...
Looking at the BTCUSDT 1W chart. We've highlighted a so-called "bottom" zone we think Bitcoin can range in.📉 Our inspiration on this chart comes from the classic "Wall Street Psychology Of A Market Cycle".🔮 It seems we've passed the "Panic" section and are entering the "Capitulation" & "Anger" phases. Ultimately crypto's near & mid term fate will depend on the...
In the wake of one of the craziest weeks in crypto history, we look at the BTC Daily chart. There's 2 zones to keep an eye on in both the short & mid term. That being the $16-20K we find ourselves in now And the "doomsday" zone of sub-$13K BTC. We have to consider just how systemic the FTX situation is with the amount of assets they might have pledged as...
Wow... What a crazy past few days in crypto with Binance and CZ gobbling up FTX. This along with insolvency rumors not just at FTX, but other large exchanges is causing a serious meltdown across all cryptocurrencies. ❌ Looking at the Bitcoin 8H chart, we see that we just crashed through a major support zone. This goes in tandem with our mid-term thesis that...
Looking at the $ETH daily chart, things are looking quite bearish.🐻 $700-800 remains our target "bottom" in this range as $ETH just bounced off the downward channel as illustrated. We pointed out a potential crypto dip the other day looking at the $BTC charts, and it seems to be playing out. 🔮 Do you think we get a small relief bounce here on $ETH? Or is it...
One of our favorite alts both long term & short term SUSHI/USDT 🔥 Looking at the 4H and Daily SUSHI/USDT charts, we've mapped out a bull case for the remainder of 2022. This alt has shown solid support at ~1.6 and looks primed for a leg up. AlgoBuddy also printed a buy signal, which has played out very nicely.🔮 We'll be looking to scalp along the way, but long...
Bitcoin (and crypto) seems to be losing some of the weekend / last week steam. Looking at the 1H and 4H charts on BTC/USDT. On the left we see signs of a bull flag, however overall sentiment and psych is driving our thoughts on this "potential" move down to 20,000. On the right, AlgoBuddy showing some confirmation for this move by printing a sell signal on...
Looking at one of our favorite cryptos; Chainlink $LINK on the 4H and 1H charts. Broke through a major resistance during this recent crypto market pump. Some might say this could be a "buy the rumor, sell the news" situation with the staking & CCIP incoming. Time will tell. Either way, we're pretty bullish on the project! -TucciNomics Chief Overlord, AlgoBuddy
$1700-1800 remains an important range for Ethereum. Having been rejected back in September, if we can't push up and consolidate above, then we might be in for some decent downside.📉 Our overall sentiment on crypto remains the same - that being a decent pump pre & post midterm, then decent leg down end of Q4, into Q1 of 2023. Difficult to time exactly when,...