benjihyam

benjihyam

AMEX:SPY is looking like it put in a short term top here. I originally only thought that we had the potential to fall to $545 or so, but now looking at the chart, I think we have the possibility of falling farther. The two targets that I'm looking for on the downside are $524.35 and 481.18. Let's see if they get hit over the coming weeks. If they hit, it'll be...

benjihyam

These are the long-term ETH levels. There's a possibility of price getting down to $791 before it starts it's next leg higher. If price does hit $791, that'll likely start the run to $18.1k. Don't get shaken out before the run.

benjihyam

Tom Lee's ETF AMEX:GRNY launched back in November and looks set to fall here after ranging in the $20 range. Where do we stop on the way down? I've marked off support levels. Let's see how far down we have to go.

benjihyam

If we look at the chart, the current structure looks very similar to what happened right before the market decline in August. We've formed a head and shoulders (albeit not perfect as it's slanted), and price seems to be breaking down. If price action accelerates to do downside, it's likely to take the market with it just like it did the last time. Paying...

benjihyam

NYSE:SAND looks like it's almost to a bottom here. To me, the chart looks like it has one more move lower and then that'll setup a long term bull trend. We're below the 200DMA and have tested that and rejected it so far, if price can't make it above that area, then it looks like we'll have a leg lower. If it makes it down to $.14, then that will be a level to...

benjihyam

Everyone is extremely bullish on ETH (and crypto in general), but the charts tell a different story. While many people will think the low is in (Feb 3 spike), I think we still have another larger fall to come over the next few weeks. I could see the possibility of a move up to the resistance at $3000-$3100, but then after that, I'd set tight stops, as I think...

benjihyam

I've been watching people on Twitter trying to short meta all week and get squeezed. META has had a really strong move over the past few weeks and is now in parabolic blow off top stage, however, I think the run comes to an end between here $738 and $752. I'll be buying puts if price can reach $750-752. Not trying to short it below that level.

benjihyam

NASDAQ:COIN has earnings tomorrow, and while I don't know how earnings will turn out, I lean towards a bearish outcome based on the chart. I could see a move up to $295 or $315, but if price can't break above and flip those levels as support, then I think post earnings will lead to continuation to the downside. We're seeing a red cloud form on the daily, which...

benjihyam

If you look at the chart, you can see that every time we've touched the blue trend line, price has bounced off of it and gone higher. If price bounces here and forms a lower low, then I think the setup is there to finally break the trend line to the downside and head lower. If price breaks below that trend line , then I think the structure of the chart turns...

benjihyam

I hate being bearish here, but the charts show that alts are going much lower. Comp has a pretty clear trend here. I think it's likely that price goes back up and retests $68 here as that's the level price broke through on the way down. If that level can't break, it sets up a final leg down to the lower supports between $11-16. If it gets down to that level,...

benjihyam

Ever since November/December, BTC has largely moved sideways in a wide range from FWB:88K -$109k. Now that we've bounced off of $91k again this morning, I think that sets BTC up for a big bull trap. I think that we're likely to go to new highs either this week or before 2/21 up to the top resistances (although we don't necessarily have to make it up there), and...

benjihyam

CBOE:UVXY has two big hurdles it needs to make it over before it can see higher prices. 1. It needs to get over the 200DMA (light blue line) 2. It needs to get over $30 As you can see, price has been consolidating in a channel since the August spike and IMO is almost ready for a big move. I think this move will likely take place the second half of February and...

benjihyam

If we look at the TOTAL 3 chart, you can see that we've just formed a double top. I lean towards one more leg down here that plays out towards the second half of February and potentially into March. I think price has the potential to get down to the 630B support, but can start scaling in around 775B. Many alts still look like they have another 50% lower to go...

benjihyam

AMEX:SPY looks like it's formed a low for the short term when it failed the H&S pattern. From here, I think it's likely that we fall back into the $580-588 to scare everyone into thinking there's more downside, but if that region holds, it'll set up a trigger long all the way up to the $614-$630 region. I think the move higher should play out by mid-February...

benjihyam

NASDAQ:MSTR looks pretty bearish here. We're trading under a key support and it looks like it wants lower. I think if the next candle turns red, then we're likely to see a large selloff all the way down to the lower supports. If we can make it back up above this support level at $363, and close above it, it would be a trigger long. Then I think we're likely to...

benjihyam

This chart looks extremely bearish to me. I think everyone has become complacent to dips and that makes me worried for the downside in this one. If we lose the $336 area, there's very little support below it. I think below that area would setup a test of the 200DMA at $244, but I'm actually worried we fall all the way back to the trend line before the next...

benjihyam Updated 

AMEX:SPY is putting in a short term top here. All of the signs are there if you know what to look at. For example, NASDAQ:TLT up 2% today. AMEX:SPY sold off throughout the day. Crypto selling off. Volatility starting to react at the bottom of the range. Dollar continuing to rise. The chart also is failing at resistance. I could see one more attempt at a...

benjihyam Updated 

I originally thought that we'd see a move higher off the bounce from $69, however the chart has now morphed and looks more bearish than it did over the summer. If we break the trend line to the downside, then I think it's likely that we can see a crash to the $40 region before the bull market in oil really starts. Let's see how it plays out over the coming months.