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BTC Playbook: Relief Rally targets and possible BottomHey all! It seems like my idea (posted 3 weeks ago) about a potential relief rally is coming to fruition (with a bit of a delay). I'll keep this analysis quick and simple by giving you all the possible resistances and where I believe the bear market bottom is. Here we go: Red lines: The red lines are all my price targets for this relief rally. I give emphasis on the 200W MA and the 50D MA area. If the price breaks the first, there's a chance we visit the second but I personally believe the probability of heading even higher (towards the 28800 area) is not as great. If you're wondering why I picked these prices go back to the bull run and you will see those where areas of consolidation during previous upside. As I said tho, for me the most important levels are those around 200W MA and 50D MA. Green lines: Green lines are all tested supports. Ironically, all those levels were hiding in plain sight. All of them are levels from November 2020 (right before we broke 2017 ATH) Those are levels you might considering buying, of course depending on the Price Action (context while visiting each level may vary, making each one a good buy or bad one. Use your brain) Yellow lines: Those are untested supports. For context I've written the dates they come from so you can check why these prices are important. There's high probability these yellow lines are the bear market bottom. If not then my eyes would target the 11800-12500 area as an extreme bear market bottom (absolute lowest price I could ever imagine is 10800 and I think it's highly unlikely we'll see it) Blue background "Zone" = Ranging zone. Not terrible buys but expect a lot of chopping Green background "Zone" = Good buying opportunity zone. Very good prices to build some spot. Potentially that's also gonna be the bottom unless we go for the extreme scenario of sub 14k. !!! INVALIDATION !!! -- My Idea for a relief rally is invalidated if we get extended price action below 20.4k or daily close below 19.2k or weekly close below 19.6k !!! Generally, I believe we have lee-way, thus, possible upside until either 13/7 when CPI comes out or 19/7 when earnings start to get published. I am expecting bad earnings to be announced starting 19/7 and on. On top of that we have FOMC meeting the 27/7 and GDP for Q2 coming out the 29/7 (which will confirm we're in a recession) So whatever you do make sure to secure profits till 13/7 max 19/7 In short, upside for up to 2 weeks, then return into the inside week range (19600-21800) and eventually towards the actual bear market bottom. This whole process might take a month or two, so, stay vigilant and be patient. Good Luck!
COINBASE:BTCUSDLong
by Athantonios
2
BLK - downtrend underwayDespite the recent strong sucker's rally BLK is still in a downtrend. It is likely to retest a longer term support at 660 soon. However any bounce from here is likely short term at the moment A near term rebound back to the 50 day moving average around 750 could be an opportunity go short (however, short with caution as strong sucker rallies are frequent). Disclaimer: Just my 2 cents and not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance and don't forget that money management is important! Cheers.
NYSE:BLKShort
by Juliac
Gold nonsense copium rally: let's fall like a rockAnother sucker rally. There is not much to say same story as usual, every bear market. Commodities, mainstream assets like Tesla & Bitcoin... First the price drops in a straight line as smart money, the "weak hands" exit. Then price is choppy because of bagholders. There was a first "THE BULL MARKET IS BACK HURRAH" and then another drop down with less chopiness, the whole downtrend has a smaller angle. And then a second "BULL MARKET IS BACK 🥳" diagonal sucker rally that always all end in a straight red line. May 6 2010 flash crash CANCEL ALL ORDERS CANCEL ALL ORDERS. I bought some 16 June puts with a strike price of 1850. Ideally I aim for at least $1800 which will pay really well (several times the warrants costs). Once the dumb gamblers have capitulated I'll just buy some calls with 1-2 years expiry, I'll try to get in around the bottom but I don't know a way to magically predict where it will be (don't try to catch a falling knife). And I'll buy as it continues to go up.
TVC:GOLDShort
by MrRenev
7
Short sell the disgusting climate hoax"It's very hard for people to reject what they have been taught their entire life since they were children even when presented with the evidence". WEAK. Literally took me 1 second after seing the data to change my mind about the lies I was spoon fed my entire life since I was 5. Donald Trump administration finally went against the dogma. Retiring scientists (their careers cannot be ruined anymore) are standing up to the establishment. The truth is out and it will spread. We live in the internet age. They can try censoring it, but you cannot censor the whole internet. The truth will spread. And all the GARBAGE, wasting, nature killing (ironic) companies built on the lie will collapse. If you do not want an elite to control the world, push europe & na in misery, keep africa poor and even exterminate them, then you are a racist and a holocaust denier - er I mean "climate" denier. Climate change logic at its finest. They are actually dumber than middle ages witch burning peasants. And history does not exactly paint a very flattering image of those. Facts don't matter, "approved" facts is what matters to them. They disgust me so much. And why are they so eager for news not to cover their buddy Epstein? It might steal valuable time from the climate change "only 10 years left" urgency? It's all for the good cause right? Wait until we get the short interest on Tesla. Already shorting a company overrun by brainwashed cultists & Robinhood ignorant gamblers. Let's not also join a crowded short. Don't go against the herd, as dumb as they might be. In the past century there have been hundreds of stock market and real estate bubbles, stock bubbles happened in particular in "new tech" stocks that mainstream media talks about alot. In the past century how many bubbles have there been in corporate bonds? Take a guess. Zero. Not one. Tells you everything you have to know. If Bitcoin taught us something it's that retail is VERY SLOW to understand things and react, especially when it goes against what they want to hear. They can even ignore it. So I expect a downtrend to be slow. If institutions are the main player in something they are so fast that you can't even get filled so it's not good either :( Pros to short: Tesla is not profitable, it's a trash company based on hype and Elon being a manipulative celebrity. Climate change threat is an obvious lie. Literally takes 15 minutes to debunk 97% of their claims. Near ath resistance & 1.236 extension of a sucker rally. Cons to short: The stock market in general could be entering its last phase, the parabolic run up. Noobish morons cause bubbles, and will randomly buy anything. Overcrowded short (we will know this soon). Short at around 375 with a SL slightly above ath, or sell puts. Or be long DJI/SPX while short TSLA.
NASDAQ:TSLAShort
by MrRenev
36
The baggy dead stock bounce strategy: Another exampleI know nothing of this company. But either way, looks like a nice example of buying something beaten up down 99% after it starts rallying. When it goes down usually it goes down pretty fast (crypto won't be an exception btw), important not to overstay your welcome. I do not use this strategy at all. Adding an example, learning a bit more every few month or so... learn with me. If it goes to zero it is fine since this strategy aims for several hundred percent returns often. No need to go all in... Here we can see that we have a V shape reversal at the bottom, a ~50% retrace, then a C wave very extended. The ABC retraced ~50% ~55%. In the case of cryptocurrencies... They retraced 55%, from being down 92%, but this does not look like we are "at the bottom", they are still way up from where they started. Bitcoin retraced 78.6%. I am not sure the strategy is the same... Will see how this progresses. If BTC gets to a few dollars, it can go up thousands of percents... But who will get filled? Oh companies on the verge of bankrupcy can recover... You will never believe what company did this... (if you do not already know)... APPLE. In 1997 they were about to go bust and Microsoft threw 150 million in and saved them. Now Apple is pretty big (in a bubble thought). 99% or more companies just disappear cannot even find them on trading view whick makes it hard to analyse this strategy here. Kodak went bankrupt in 2012 and re-emerged in 2013: The "new" Kodak fell by more than 90% lmao. Not sure how much the previous one fell. In 96 the price was above 90$ and at the end it was circling around 5. They had a nice back to normal. The new company price does not pick up the old one. The probably issued less shares to make it look like they bounced back. If I look at the daily chart: That is just too fast. I also noticed something else. That I am keeping for myself. Sry. Rekt. Looking at more examples will help. Maybe a good new strategy in the future here? The point of having multiple strategy is more a safeguard if the ones being used stop working rather than to make more money or to diversify. One question remains: Where do all these poop chasing baggies come from? And why do they keep appearing?
NASDAQ:MNKDEducation
by MrRenev