Bitcoin has been consolidating in this bull flag for some time now in the Weekly Chart. Possible breakout to come soon, white and green arrows are both possibilities, we just wait to react. First target is around 84k. Drop your thoughts/opinions!
Downtrend was broken followed with a ranging market. Last week the weekly candle ended very bullish showing good risk for the upside and to break out of this bull flag. This is what I see coming ahead, feel free to share thoughts!
SPX had a big bullish week, where do we go from here? We are currently hitting resistance where it previously rejected two times. Next week will tell if we break above and move into a bull trend or reject and maintain the bear trend. Share thoughts/charts!
Looking at the chart, if SPX closes near current price or lower making a nice bearish candle pattern (doji or bearish) - this will give us 3 confirmations for good odds to take a short position.
1. Downward Trendline Resistance
2. Support/Resistance Line
3. Doji/Bearish Candle
Huge week for bulls, but zooming out and looking at the weekly chart, it's still a week trend so we will see how it acts around our 61.8% level for a possible short.
This week was a lot of ups and downs, but overall picture is what we should be focusing on! We're still on a downtrend so we must wait and trade only what we see, not hope. We've broken the trendline and now its currently rejecting what was once support. Next target is the 426 area, and may bounce for a lower high before breaking that and seeing our previous lows...
When you look at this chart, do we all see a huge bull flag in the bigger time frames, and a bull flag created overnight with futures? Plan is to ride this in the 445 zone, and possible short from there. All opinions welcome
Weekly candle last week shows strong buys, but remember the bigger picture - still on a downtrend!
Remember market can do anything, we can only react to what it tells us. I believe a perfect short entry would be in the 444-446 range, back to the lows we saw recently.
Sitting on calls to this area, and will wait for rejection candles in that zone for a short...
Confirmations: Price has rejected resistance, which was previously support. Weekly candle engulfed previous week candle with exhaustion wicks at the top. Double top on daily chart at resistance. Bearish engulfing on daily chart at resistance. Fibs show rejected at a key level(61.8) and price target shows $408 for (-27%). Also bad news expected to come soon...
According to structure, a break in support shows buyers weakness. It is possible we see a lower high form soon leading to a retest near 47k, possibly another lower low. Feel free to share thoughts!
