I like crypto but that doesn't mean XBT isn't going lower. Probably a lot lower.
Technical analysis is always a tool to help distance oneself from hope. Hope is not a predictable investment strategy.
Technical analysis helps us strip away the rhetoric, the laser eyes, the maximalism, leaving us with actual behaviour upon which we apply frameworks to help us asses...
Not that there aren't already 10m Bitcoin charts on TradingView...
This type of corrective draw down after a completed motive move is not in the least bit uncommon.
It is entirely possible we correct down to 34,000-35,000, given the larger motive move that started in 2020.
We haven't even tested the 200dma yet.
At lest Mr Mannering should avoid panicking until we...
1.822 resistance. A break above would suggest the correction is over. A failure to break above would suggest a bear trap for Ada and the broader crypto class.
KOREA is one big factory with the full gamut of output, from ships to semis.
The index is a key barometer for global cyclical momentum.
Consolidation is complete
This has meaningful implications on equity markets and tech. It looks increasingly likely that blow out earnings will mark near term highs for FAANG.
As a quick reminder, higher yields increase the discount factor suggesting future earnings, which are important for high growth tech, are worth less today.
That argues for a lower multiple and points to relative...
I am not a purist. I think averages are made to be broken. More important to me is a recovery above key supports, with volume.
We have 50% fib correction now, completing an abc Elliott wave formation. And we are testing and bouncing off the 200dma, with volume.
This is a pretty textbook correction. Now, assuming we are not on the wrong side of some co-ordinated...
Amazon has many faces; part of FAANG, bell-weather US tech name, high multiple flag bearer, Covid beneficiary etc...I am sure you get the point, whether Amazon can break out and resume the uptrend matters for sentiment across multiple tech perspectives.
I suspect that whether Amazon can sustain a breakout, given the stock's high multiple, is in part linked to...
Korea is highly cyclical and a decent "canary in the coal mine for" a) the Semi Cycle, given the size of Samsung Electronics in the index and b) the global manufacturing cycle.
Watch for a double top.
This is not investment advice, I am not a licensed advisor and you should always do your own work or seek professional advice.
Telsa is most likely still in an uptrend. Note the bounce of the fibo support.
My base case is for a test of the 200dma unless the price breaks back above the ATR resistance (black line).
