Apple confirmed it is trading in a downtrend on Friday when the stock printed a lower low under the Feb. 14 low-of-day at the $166.56 mark.The most recent lower high was formed at the $173.44 level on Feb. 16 and bearish traders will be watching to see if Apple prints a reversal candle below that level on the next bounce higher to indicate the downtrend is likely...
Bitcoin was falling almost 5% lower on Sunday on fairly high volume, which indicates the break-down Friday from a rising channel may have now been recognized. Bitcoin may fall to back test a descending trendline which the crypto broke up through on Feb. 3. The area may provide a pivot back to the upside in the future. Bitcoin has resistance above at $39,600 and...
Ethereum was falling over 4% at one point on Friday as inflation fears, the likelihood of rising interest rates and Ukraine/Russia news continues to spook the markets. Gold, considered a safe-haven asset, has been rising steadily in comparison, which indicates in times of economic uncertainty. Cryptocurrencies are still considered risky, despite many arguing...
Bitcoin is trading lower Thursday and will need to see a bounce off a key level. The crypto is trading in a sideways channel and has fallen to the $40,000 support level. Bitcoin is falling back toward the $40,000 level and wants to bounce back. If the crypto can hold this level it may start pushing more bullishly as it is forming higher lows. Resistance may be...
While Ethereum was trading lower most of Wednesday — cooling off after having a strong green day yesterday — the crypto took a turn in the late afternoon and is trading slightly up again. The crypto has been rebounding the past few weeks after seeing a strong bear market for a couple of months. The crypto has been nearing resistance and could see a breakout in...
Solana is trading higher Monday as it looks like it could be at the start of a bounce. The $85 area has been a key area on the chart in the past and the crypto is looking to hold above this area once more. Falling volume may show the downward trend of the past few days is coming to a halt. Solana bounced off support in a sideways channel as it has had a strong...
Ethereum had been trading in a rising channel since reversing course, creating a series of higher highs and higher lows as it worked its way north in an uptrend. The most recent lower high is at $2,672.84, and if Ethereum drops below the level, it will negate the uptrend and throw the crypto into a possible downtrend. Ethereum’s afternoon decline came on...
Shares are falling in what traders call a descending channel after seeing a strong bullish run higher. The stock now looks to be in a period of consolidation as it trades within the channel. A break above resistance or support may hint that a further move in the same direction as the break may be coming. The stock is trading above the 50-day moving average but...
Looking at our 4 hour time frame we can see how a double top has formed, if the acending trend line or our clouds don't hold up we could easily see a continuation to the downside . Currently we can see SPY trying to move above the 50ema and 200ema two resistance level that if broken could give us a more bullish scenario .
Litecoin is trading slightly lower Thursday as it looks like it is cooling off after recently bouncing off a key support level. The crypto is trading in a sideways channel and has been pushing higher toward support over the past few days.The crypto market as a whole is slightly dipping today after having a strong green day yesterday. Litecoin looks to have found a...
Snap has been trading mostly within a falling channel on the daily chart since Oct. 22. A falling channel is considered bearish until a stock breaks up from the upper descending trendline of the pattern.On Thursday, Snap was attempting to break up bullishly from the falling channel. If the stock does so, it will regain support at the 50-day simple moving average,...
Dogecoin is trading in three possible bullish patterns on the daily chart, with the first being a cup-and handle, the second a bull flag pattern and lastly a triple inside bar pattern. Because all three bullish chart patterns align, the move higher could be explosive if the patterns are recognized. Dogecoin’s cup-and-handle pattern has the cup formed between Jan....
Disney reversed course into an uptrend on Jan. 24 and on Feb. 3 printed a higher low within the pattern.Disney printed a higher high above the Feb. 1 high of $144.69, which further confirmed the trend. When Disney reached its Jan. 24 lows, it mostly filled a gap between $128.66 and $133.86, which should give bulls more confidence going forward. On Wednesday,...
An anonymous cryptocurrency wallet holding $43,718,860 of Bitcoin BTC just transferred their funds onto Coinbase. Cryptocurrency transfers from wallets to exchanges is typically a bearish signal. Most high networth cryptocurrency traders hold their funds on a hardware wallet, as these devices offer better security than cryptocurrency exchanges. Hardware wallets...
DOGE traded lower along with other major cryptocurrencies as the global cryptocurrency market cap fell 2.5% to $2 trillion at press time.On Tuesday, DOGE and other major coins traded muted after a surge in their prices earlier in the week. Bitcoin’s price tumbled after the U.S. Department of Justice seized $4.5 billion worth of cryptocurrency stolen during the...
As seen on the daily bitcoin chart there is a very important area on the clouds which should eventually be broken and hold above in order to confirm further continuation to the upside. Failing to do so would reopen a downside consolidation .
Tesla is now trading in a confirmed uptrend, with the most recent higher high printed on Monday, which was above the Feb. 1 high of $943.70. The most recent higher low falls at the $882 mark, and Tesla will need to stay above the level to avoid negating the trend. On Monday, Tesla looked to be printing a shooting star candlestick on the daily chart, which...
If history is any guide, there may be trouble ahead for shares of ZoomInfo Technologies. A so-called death cross has formed on its chart and, not surprisingly, this could be bearish for the stock. Many traders use moving average crossover systems to make their decisions. When a shorter-term average price crosses above a longer-term average price, it could mean the...