TheTravel1ngTrader

TheTravel1ngTrader

SHIB/USDT is sitting at the 100 MA after forming a long descending channel (bull flag on the weekly). There is major bullish divergence between the price and RSI and the market has already showcased its support on the S1 pivot when $SHIB wicked to exactly that level on December 4. I would still set an SL at 0.0000275. Short term PT at 0.000053 and 0.00007.

TheTravel1ngTrader

BTC/USDT is still looking solid here holding the 200 MA, much in the same way it has been for 2 weeks. It is highly correlated with the equities markets now and is in the same boat waiting on J. Powell's speech on Dec 15 about Fed policy. The good news besides maintaining the 200 MA is the bullish divergence between the price, RSI, and MACD. Also, we see the same...

TheTravel1ngTrader Updated 

$SAVA (Cassava Sciences) saw an insane rally in 2021 from $7 to $145 on the hopes that its groundbreaking Alzheimer's treatment will yield promising results never before seen in the history of the disease. Currently there are no Alzheimer's modifying therapies on the market and if the data surrounding Cassava's main drug, simufilam, is accurate then it could be...

TheTravel1ngTrader

CLOV (Clover Health) short interest has dropped from the 40%s to the 20%s, which is still relatively high. The technical setup here is optimal after $CLOV fell to 4-month support. I'd still like to see more volume here but we could see a quick pump to the $10 mark pre-earnings (August 11). Following the unusual options activity 32,000 call options expiring Jul 23...

TheTravel1ngTrader

RYCEY is bouncing off of S2 support on the pivots with a gap up yesterday. With the UK reopening underway RYCEY could net an easy 10% where the central pivot point is (yellow line). MACD curling up and RSI bouncing from oversold levels, which it hasn't seen since Jan 2021.

TheTravel1ngTrader

Without fail, every single major Bitcoin crash in history has flashed a bearish MACD crossover on the weekly and has fallen below the 21 weekly EMA. Literally every time this happens Bitcoin crashes. It was true when it went from above $1100 in 2014 to $150, when it went from $20K to $3K in 2018, when it went from $14K to $3800 in 2019, and we see the same signal...

TheTravel1ngTrader

$NOK is forming a rounding accumulation pattern with a bullish MACD crossover and an upward-trending RSI. The OBV (on balance volume) is also looking to break out with the same rounding accumulation pattern. From a fundamental standpoint, $NOK has actually been fairly active on the contractual front. It recently picked up a few 5G contracts from large operators...

TheTravel1ngTrader

NAKD is forming a fractal pattern at the moment, which is technically a bullish pennant. It has also found an extremely tight range at the 50 MA while doing so. There are also all kinds of bullish crossovers forming with the moving averages with hidden bullish divergence between the price, RSI, and MACD. The OBV (on balance volume) is also showcasing a heck of a...

TheTravel1ngTrader Updated 

If you 're not already in a TSLA position and have been waiting to enter, it is now in a perfect setup for a low-risk/high-reward entry. #TSLA has retraced after its binary event (earnings), as it typically does. Novice traders still think they can buy a stock on a known event and make easy money doing so. What they don't know is that most dip-buyers are looking...

TheTravel1ngTrader

Let's just talk technicals first. We can see that this stock is on an upward trajectory, retracing to the 21 EMA like a plethora of momentum stocks out there. It has created two perfect bullish pennants (or bull flags depending on who you talk to), perfect for the continuation play. You also have hidden bullish divergence between the price, the RSI and Stoch...

TheTravel1ngTrader Updated 

BNGO (Bionano Genomics) is forming a textbook bull flag. This comes on the heels of a share offering, which is important. Share offerings dilute the value of the stock in the short term, but if general sentiment remains bullish, provides a buying opportunity for a takeoff after the retracement. Well, now we also have a bullish continuation pattern in the form of a...

TheTravel1ngTrader

Re-posting since TV took down my original post from yesterday. With most SPACs we tend to see a post-merger decline as traders take profits. However, if the new ticker is a company that has tailwinds behind it then we often witness a rally after the retracement finds support. GNOG is now sitting at the 50 MA after forming a double top . There is also hidden...

TheTravel1ngTrader

$LAZR (Luminar Technologies) is on the verge of breaking out of the bullish pennant. Playing this breakout is relatively easy since you can set your stop limits close to your entry. LAZR has been holding the 21 EMA for a month, which is a good sign. RSI and StochRSI are curling up. There is hidden bullish divergence here as well. Entry: close above the...

TheTravel1ngTrader

Here is why I'm ultra bullish on #Bitcoin leading up to the election. Bitcoin is forming a repeating pattern on the monthly chart, which is clear as day. * Bitcoin eventually broke out after the 2012 election, finding its first major ceiling in 2013. * Bitcoin then formed a huge accumulation rounding bottom that lasted 1100 days. * After the 2016 election it...

TheTravel1ngTrader

$TSLA is in a moment of truth here. #TSLA formed a bullish pennant after hitting all time highs. Pennants are considered continuation patterns (in this case a continuation of the violent uptrend). The volume is also declining in typical fashion during these types of continuation patterns. The Stoch RSI is oversold which TSLA responds well to on the 1D chart. The...

TheTravel1ngTrader Updated 

Here is a low risk/high reward trade on #Bitcoin. Bitcoin is once again finding support at the bottom of the ascending channel (as well as the 21 weekly EMA ). The weekly stoch RSI is oversold as well. With stimulus aid back on the table next week, we could see Bitcoin rally back to around $12K, especially after forming a classic accumulation pattern. This is...

TheTravel1ngTrader

Even though it's typical to see bear rallies in bear markets since nothing shoots down in a straight line forever, there are technical reasons why this week will likely be red for the SPX500. First let's talk about the declining volume while the price is violently rallying. This divergence between volume and price cannot be ignored. We also have the hidden...

TheTravel1ngTrader

Crazy fractal spotted on the 1hr chart. Bitcoin was in a sideways continuation back on March 24, which looks exactly like the sideways pattern we just had. It then tanked by almost the same rate, formed a sharp trough and is now hugging the 21 EMA in almost the same exact manner. The death cross also occurred back in March and it looks scarily similar to what...