Bitcoin is in compression area, watch this for the next move.From ATH 73836$, Bitcoin dumped down to 60k$. Is it a good time to refill or will it continue lower ? We will try to anticipate by looking for breakouts using RSI and volume profile.
The RSI has completed an head and shoulders pattern, falling back to 50 in value and entering a triangle between ascending support and falling resistance. A breakout from this triangle will tell us the direction for the next move.
Volume Profile shows us that there is a lot of trading volume from 66k up to 69k$. If price breaks above 69k then there will be no barrier to the upside. Until then Bitcoin remains weak.
M-oscillator
Internet Computer (ICP)On the above 6-day chart price action has corrected 97% since August 2021. A number of reasons now exist to be long, including:
1) Price action and RSI resistance breakouts.
2) Stochastic RSI resistance breakout.
3) Regular bullish divergence as measured over the last 2-3 months.
4) Falling wedge breakout + support. 100% upside target projected.
Is it possible price action corrects some more? Sure.
Is it probable? No.
Ww
Type: trade
Risk: <=6%
Long timeframe: This month
Return: 100% in the 1st instance
Real yield in uptrendThe weekly real yield is in uptrend, which should act as support for the USDOLLAR and as a headwind for the risk markets.
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Past Performance is not an indicator of future results.
USDJPY Analysis: Bearish Fib-3 Bat Retest Analysis:
- Trading Setup: Bearish Fib-3 Bat Retest
- Entry Zone: Identified at Bearish Bat Retest or Key Resistance Zone
- Signal Confirmation: Supported by RSI Divergence
- Trading Expectation: Expect potential stop-outs on lower time frames
Trade Plan:
- Short Opportunity: Aggressive traders may consider shorting USDJPY at the identified retest zone
- Risk Management: Plan trades in advance and adhere to rules that invalidate the setup
Your Thoughts?
Are you considering a short position on USDJPY? Share your insights and trade plans in the comments below!
📉 Remember to trade responsibly and manage your risks effectively! Trading involves inherent risks and requires careful analysis.
Alchemix (ALCX)On the above 4-day chart price action has corrected by 95% since a sell signal printed. Today is great long opportunity. Why?
1) RSI and price action resistance breakouts.
2) Multiple oscillators print bullish divergence. Look left.
3) Price action prints on support. Look left.
Is it possible price action falls further? Sure.
Is it probable? No.
Ww
Type: trade
Risk: <=6% of portfolio
Timeframe: Now, don’t sit on your hands.
Return: don’t know. 2 years ago it was 2k per token.
Bitcoin Pre-Halving Analysis pt. 2If we use the True Oscillator we can see there is a significant bearish divergence on the 45 minute chart. This gives way to clear insecurity in the market. That doesn't mean that it cannot reaffirm itself, but, in reality that is quite greedy seeing as we're already so high.
All assets in the world, even these.. decentralized global assets are logarithmic. That means they have a growth curve that is exponential at first and then rounds off over time. There's only so much money in the world. As the market cap for Bitcoin climbs (which it is already quite high) it will have to convert other large cap investors from their current holdings, like gold.
Some semblance of an exodus from each asset is likely but how long that could take is indeterminable. The point is that Bitcoin can only climb so high, and it can't make sustainable climbs without cycling. If it continued upward without a brief relieving pullback, then the pullback at the top would be monstrous.
ApeCoin (APE)On the above 4-day chart price action has corrected by 90%. Today is great long opportunity. Why?
1) RSI and price action resistance breakout.
2) Multiple oscillators print bullish divergence with price action (orange circle)
3) Price action prints on past resistance since breakout. Look left.
Is it possible price action falls further? Sure.
Is it probable? No.
Ww
Type: trade
Risk: <=6% of portfolio
Timeframe: Now, don’t sit on your hands.
Return: no idea
Dow to Consolidate and Move Down from HereYM (DOW 30), 4 Hour, Indicators: This is what I need to see turn to get confirmation on our short position up here. The 4 hour is still locked in "embedded" mode on the slow stochastic. My bet is that this is going to come off "embedded" and in the process swing back to the middle of the Bollinger band. . . if that happens, that would take us back to 39921 . . . there is your 300 points. Notice the resistance on the 4 hour from above . . . You also have the top of the BBs on the 4 hour up there. So, it makes sense that it would be a good place to sell off from. Obviously, our stop is back at B/E but, if we wanted too . . .beyond this 4 hour level would also be a good place for a stop. More downside for YM could develop if we bust through the 39900 level if this wedge gives out.
HIMS a gender focused health care company LONGHIMS had an excellent earnings report for a small cap company; it is consumer driven quality
focused and helps the customer feel good about him/her- self. It does not have any gender
orientation agenda nor any obvious political inclinations. On the 120 minute chart, it started
a moving averge convergence about a week before earnings. The Greeny TTM squeeze indicator
did its thing as the post-earnings action began. I see this stock as a good long to hold into
the next earnings and perhaps through it. HIMS is now at its all time high. There is no chart
horizontal resistance overhead and traders will note that. I see the bullish momentum
continuing perhaps with some healthy ( no pun intended) corrections while underway.
Healthcare is considered to be a hot sector for 2024 this small cap seems to be warmed up.
NKTX: A technical perspectiveNASDAQ:NKTX is a clinical-stage biopharmaceutical company, develops and commercializes natural killer cell therapies for cancer and autoimmune disease treatment. While highly speculative, the daily charts have presented a purchasing opportunity after a stock offering to raise capital.
MACD and TTM Squeeze tend to be reversing, and selling pressure seems to slow. I expect price to bounce off of the critical support level around 8.47. A price below 8.47 justifies a premium valuation of the underlying.
Short-term price action appears to be slightly bearish, but the conditions are right for a reversal. Biotechnology stocks tend to be highly volatile, make sure to manage your risk correctly before making a trade. My R:R ratio is around 5:1 with a SL at 8.08.
NEARUSDT / Short / 27,04% (4x Leverage) / DT failing supportStrategy: Short
Entry: 6,74600
TP: 6,29000 (6,76%)
SL: 6,97500 (3,39%)
Decision Making process:
Subtle RSI bearish divergence
EMA crossover
Double Top bouncing off resistance and failing support
Support retested
General (BTC) bearish market
I see a bullish reversalEven thou BTC is in a correction, in this macro regime altcoins should outperform, so looking at CTSI, i think it should be one of the outperforming ones short-term:
- Day MACD is in the oversold zone and reversing, being in a uptrend indicated by the 50/200 MAs
- On Day timeframe (TF) there is a bullish reversal divergence as well as bullish continuation divergence on different oscillators
- on the 4H TF MACD has already reversed from the oversold zone and about to cross MACD downtrend. Also, the histogram rate of change is slowing down.
- on 4H price chart i see a strong level at 0.2827 and some kind of H&S reversal formation
So, if BTC will stay here w/o any strong moves downside, CTSI should give me 20-40%
QQQ has recently broken below its upwardAfter going on a nice rally QQQ is starting to show signs weakness in its price action and RSI.
QQQ price action for the first time in a while breaks below its upward trend and holds below for two straight trading days
RSI 20 has also been forming a bearish divergance pattern with it trending down while price has been climbing over the past month.
Key signs to watchout for:
RSI breaking below 50
Price action breaking below its flat support line.
It is very possible that QQQ will simply do a pull back through time where trades flat for a month or two months before starting to rally again. Due to its more tech heavier lean, a correction and sell off in price is very likely as well.
Tighten your stop losses to protect downside risk
SMH breaks above its updward, reversal likelySMH has gone on a wonderful tear the last year and has recently showing signs that it is way overbought and due for a correction.
From a 1W period we see that SMH has broken above year long upward trend.
This is a first for SMH to do over the last year
The ETF has gone through some notable contractions like from Aug - Oct of 2023. This occured without breaking above the trend.
RSI 20 is now also for the first time showing that it has reached above 70 in over a year.
We should expect a decent contraction or elongated pull back in time to correct fore this over purchasing it went through.
Tighten your stop losses to protect against downside risk.
NVDA indicates a bearish divergenceComparing the price action to the RSI 20 indicator we can see a bearish divergence forming.
RSI is trending downward
Price action is continues to trend upward during same time
Gives indication that a reversal is becoming likely
RSI still remains above 50 which is bullish indicator overall
While NVDA has gone on tremendous tear lately we start to see signs of weakness in the price action and RSI. This does not mean its time to sell. I would recommend tightening up stop losses to protect against possible downside risk.
Apple Reports Soon. Can it Bounce?Apple has lagged for months, but some traders may expect a recovery.
The first pattern on today’s chart is the emerging double-bottom around $168.50. AAPL bounced at that level in early March and is trying to hold it again. The kind of price action may suggest the downtrend is slowing – at least for the time being.
Second, the tech giant is expected to report earnings in the next few weeks. Considering the nearby support, will sellers wait for the approaching catalyst to push the downside? That could give an edge to buyers in the near-term.
Third, MACD is starting to rise.
Next, consider the falling trendline along the recent highs. Closing above that line may also suggest the near-term direction is less bearish.
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Short opportunity on SPXSPX index showing bearish divergence on RSI. While price have been moving up steadily for the last two months. RSI doesn't seem to track price instead it has been falling. This bearish divergence indicates there could be possible correction in SPX. From past correction, I guess it could be around 10% where there is a good support. Also this correction can be welcomed so we don't see a bubble burst scenario.
Hope you like this analysis. If you like please boost the idea or leave a comment on your thought. Otherwise, happy trading :-)
Salesforce Could Be StallingSalesforce more than doubled between late 2022 and early 2024. But now some traders may think the provider of marketing software is stalling.
The first pattern on today’s chart is the November 2021 high of $311.75. CRM rallied above that level on March 1 but couldn’t stay there. Such a failed breakout is a potentially bearish reversal pattern.
Second is a trend line rising along the lows of January and February. CRM touched that support more frequently in March. That could suggest it’s at risk of breaking. (The 21-day exponential moving average may be providing a similar signal.)
Third, MACD has mostly fallen since mid-February. That may reflect weakening momentum.
Fourth, Bollinger Bandwidth has narrowed. Will that tightening price action give rise to increased volatility?
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Past performance, whether actual or indicated by historical tests of strategies, is no guarantee of future performance or success. There is a possibility that you may sustain a loss equal to or greater than your entire investment regardless of which asset class you trade (equities, options or futures); therefore, you should not invest or risk money that you cannot afford to lose. Online trading is not suitable for all investors. View the document titled Characteristics and Risks of Standardized Options at www.TradeStation.com . Before trading any asset class, customers must read the relevant risk disclosure statements on www.TradeStation.com . System access and trade placement and execution may be delayed or fail due to market volatility and volume, quote delays, system and software errors, Internet traffic, outages and other factors.
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Bitcoin Liquid Index Gann Square & EW CountHere I made an elliot wave count, this is a complete wave assuming the 5th wave is short like in 2013/2014.
I will look into making an alternate count that shows one more 5th wave to go before a major correction like 2014/2018... Or unlike we've seen in bitcoin history? 60k-1k???
Well no need to get too excited, time will tell which way we're going and it's too soon to say for sure.