Nascent break above the AVWAP. I see head winds at 74 with a support area turned to resistance.
before I get long, I'd like to see a break of 233 and hold above 233, where sellers at the anchored VWAP has induced consistent rejection.
Order blocks on shorter time frames centered on 64K. We should see some headwinds here.
Initial rejection at the 50-61.8 Fib retracement, 50 DMA and Anchored VWAP, with an imbalance to resolve, below. If imbalance resolves and bases, watching for right shoulder of an inverse H&S.
Broke through confluence of resistance (VWAP, 50 DMA) and pushing into DBD supply. We made our move from G Fund, back into C Fund, effective market close today. Allocation 72% C-Fund / 28% Mutual Fund BTCFX, as of market close today.
Broke through the 50 DMA, VWAP resistance and Volume shelf.
Imbalance resolved on that 1 Day FVG... Respecting 21 Daily EMA. We have a MACD curl and bullish RSI trend... ready for the next leg up. BITSTAMP:BTCUSD AMEX:BITO
If rejected here, annotated a confluence of volume that could serve as a pivot for the next leg up.
The imbalances created by last week's impulsive selling need to be resolved, thus pulling price upward. There is a confluence of factors that lead to the probability of a rejection at 420-424. S/R flip at 420, Anchored VWAP where selling could occur and the 200 MA channel. These all reside in very close proximity.
Lost trend line support and invalidated a bullish order block. The buy the dip folks will bring this up but they'll just create liquidity for more exits. Watching that resistance flipped to support area and confluence with the 200 DMA. Chart is 4H but the MA envelope is on the daily chart frame.
SPY weekly chart: testing the bottom of channel, however, I don't have too much confidence for a bullish thesis due to the 10 Year Yield being so high, DXY at 106, weak relative strength and the widening gap between the MACD and Signal Line. IMO, we're more likely to break below the channel than continue within it.
On the weekly, IWM gives credence to bearish bias, however, if we look at the daily chart, there is also a good technical case for a potential run to 200.
Consider the buy/sell volume, the last two times it pierced the click VWAP (anchored to ATHs) and the difference, in this recent break above.
Broke out of the range to the down side. While not the explosive move we anticipated breaking out of this range, there are some key rejection and break down areas to maintain a bearish scenario.
Thrift Savings Plan (TSP) S-Fund DWCPF: strong support found in the 1740-1760 range. Despite that, I am still not entirely convinced that this is out of the woods just yet. Still confronted with a distribution zone above. Could we see a potential inverse head and shoulder on this daily chart? I can see a crude one. For more information on why I am still in a...
Thrift Savings Plan (TSP) I-Fund IEFA: Despite a break of structure, 65.90-66 have served as support. Lose that and next likely area of reaction lies between the 50-66 FIB area.
Thrift Savings Plan (TSP) C-Fund SPX: Technical: very dizzying two weeks as we see price bounce between that 8/25/22 supply zone and support between 4060 and 4100 but the lower highs and lows still have me inclined to remain on the defensive by maintaining my core position in the G-Fund. 4047.95 provide support today in an after lunch rally that had us close at...
Thrift Savings Plan ( TSP ) I-Fund: broke structure but finding support just below the 21 DEMA, at 66. Has to stay above 21 DEMA and base here or it will likely enter the 50-66 fib area.