Marketforecast
BTCUSD possible bear flagUsing the 9 and 15 exponential moving averages with a relative strength index and a MACD. Currently Bitcoin seems to be forming a bear flag pattern on the daily chart and just waiting to see if it breaks below the pattern. There is major support areas in the 47k range and 44k range which were tested in early February 2021. The relative strength is giving a reading below 50 in the 40 range showing signs of sellers in control of the market on the daily chart. The moving averages crossed over with the massive sell on May 13, 2021 and the MACD is giving a reading of a bearish momentum strengthening. Bitcoin could test one of these ranges before pulling back to the moving averages it all depends on the unknown which we will never know. The unknown of trading is how many people are going to sell, or buy, or going to get stopped out or margin called. Lots of factors can push markets up or down but the one factor we will never know is what other traders are going to do with their money. The only way to find out if the edge plays out in our favour is if other traders’ edges’ agree with ours. I do not currently have an open position on BTCUSD as I am looking to short if the next few days it breaks and closes below the bear pattern.
Good luck and good trading
Great tool for predicting bubble/hype tops!What is the difference between bubble and hype?
Hypes are usually local tops inside the greater bubble.
As we said before there is a 90% chance we already started the next bubble.
For now, we had a hype that most probably finished at the 5th Elliot wave.
As you can see previous tops and dips can greatly predict where the next tops will be!
1.618 Fibonacci level is the key and when combined with Fibonacci levels from other extensions you get to know where the strong resistance is.
First, we get to extend to 3.618 and then to one level lower (2.618) from the previous price movement. Both are aligned with previous 1.618 Fibonacci extensions.
Hope with this will mean less FOMO and FUD when trading.
THIS IS NOT FINANCIAL ADVICE.
Remember to trade safely!
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Amazing bitcoin forecast to $277k next stop & WHEN TO BUY?Does anyone have a roadmap like this???
Buy anytime we are near the PURPLE DOTTED LINE. In fact, if you believe in bitcoin, DCA (dollar cost average) on the way up and now! Anything below the purple value line is a spring/shakeout.
By my estimates and how the parabolic ascents of support and resistance line up, bitcoin will eventually and soon approach $277k decision point. It will require it breaking above the resistance parabola to go higher. At this point there should be indication of the s-curve knee point of global adoption moving forward as as store of value.
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Stock market at very critical resistance indicator!If we track % of stocks above or below their 200 day moving averages on a WEEKLY time basis - there are some very clear bull market reversal signals as denoted. We are back to a very critical resistance area that once break up, we could see a very sizeable extended multi-year stock market pump. This would in turn seal the deal I believe for a second presidential turn and the Trump re-inflation of the stock market which will eventually lead to a parabolic top most likely.
Market about to repeat rollover?With trade war escalations not fully priced in, perhaps we see a breakdown of very critical weekly 100 MA?
POTENTIAL BUY Clear trendline after very strong market push-and-rejection.
This is like a slingshot!
Wait for price to test support area to buy after confirmations.
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Best of luck!
Felipe
S&P FORECASTAfter 10 days bearish the market signal a small healthy correction, although not for a total new bull market but good enough for a long entry position, taking profit at 50 or 618 FIB level.
NZDCHF Potential Short soon...Daily chart is displayed above
As you can see in my chart analysis, the price of NZDCHF is approaching this Daily resistance zone and we should be expecting a sell soon.
I would say continue to watch!
USDCADMarket Forecast Strategy:
USDCAD forming support at the end of the day, going long. Target at 1.3150
London session Watch USDCADUSD/CAD surged after the break of the inside bar candlestick pattern that we covered yesterday. The breakout of the inside bar candlestick pattern lead the price to break the 1.1015 resistance level. Note that the inside bar candlestick pattern was coupled with the Stochastic and Commodity Channel Index (CCI) showing the price is oversold which adds strength for the breakout. The overall trend is still heading up thus we could potentially see a retracement before the price resumes this upside movement in today's London session.
