Does Bitcoin / Euro give a new perspective compared to the usual Bitcoin / USD chart? I drew a Modified Schiff Pitchfork with anchor-points December 2018, November 2021 and November 2022. It seems to respect the Fib levels and 0.25, 0.5, 0.75, 1.0 levels well. Let´s see how it plays out.
Nvidia will be dropping to my range discussed on the chart due to short term inability to get license to provide H20 Processors to China. Earnings are releasing end of May and I predict positive news on that, perfect time to buy low.
Trading idea: Buying at $396 and selling at $483. Just a trade my friend.
The Nasdaq 100 index is seriously oversold as market participants are gripped by fear. Understandable… however, markets do not crash in fear. Instead the opposite happens, counterintuitive as that sounds. The Index shall continue display volatility until sellers are exhausted, which is around April 30th when the bottom shall print. So yeah, this week is probably going to suck what life remains of your account. However selling now is not in your best interest, I would argue the opposite. Let me explain why. On the above daily chart the Nasdaq 100 death cross approaches, forecast to print on April 30th (the dotted lines). The death cross (On the Nasdaq 100 only) is defined as the 65 day Simple Moving average (blue line) crossing down the 240-day SMA with price action under the 240-day SMA. Now the date has been changing a lot with recent volatility, to counter that behaviour the forecast for the cross uses the "Box Jenkins" forecast method (Ww is a data scientist and engineer specialising in probability theory and stochastic processes, will be adding the tool to my collection of scripts shortly!). Read more about Box Jenkins method here: https://www.investopedia.com/terms/b/box-jenkins-model.asp Now I’m not normally a fan of moving averages, but on "looking left"… you’ll find me on the front row seat. I tell you all that to tell you this, look left. Look left at past death crosses using this method: 17% rally from death cross on March 15th, 2022 https://www.tradingview.com/x/Hd0f7I7a/ 22% rally from death cross on December 18th, 2018 https://www.tradingview.com/x/RJ6yIEOM/ 17% rally from death cross on February 16th, 2016 https://www.tradingview.com/x/wnQuGpuI/ You get the picture. This behaviour continues to repeat with the previous ten death crosses until the print on October 12th, 2000, where the bull trap was followed by a market crash of 80%. https://www.tradingview.com/x/AuFssqMJ/ In terms of probability there is a 90% chance the death cross shall result in a positive rally. However, it is my guess many readers will place more weight on the 10% chance of a crash. That’s emotion, not reason! In fact if you scan over many of the published ideas on tradingview you'll notice the bearish slant is strong. Is this time is different? ===================== There are no certainties, only probabilities. Price action could continue selling off following the cross to reach new lows. That said, this idea is to forecast a bull trap, not a continuation in the market uptrend. The probability favouring a rally is incredibly high. After that, not so good. Not good at all. Price action forecast on rally ======================= Approximately 19.2 to 19.5k Conclusions ===================== The market is oversold as emotions run high. History tells us It is unlikely the correction ramps up in momentum after the cross prints. However the cross can indicate the index may be about to enter a bear market should price action reject the 50-day SMA, which it is very likely. That’s for the next post! Ww
Just dropping this quick update on the Bitcoin analysis before nap time. See yall next time!
A "test" of MM analysis on a ticker *not* in HTF discount.
The resistance penetration did not succeed. The other resistance penetration will not succeed. The major resistance penetration on the RSI was successful.
https://www.tradingview.com/x/vya0juio/ Hello,Traders! BITCOIN made a breakout Of the long-term falling Resistance line and then Hit a horizontal resistance Level of 88,860$ so we will Be expecting a local pullback From the level which means We can enter a short trade With the Take Profit of 85,297$ And the Stop Loss of 89,061$ Sell! Comment and subscribe to help us grow! Check out other forecasts below too! Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
Gold has been in the bullish trend for a while and there is no sign of slowing down at this moment. However, as explained in my weekly summary and forecast, I do expect it to correct this week. I am looking for selling opportunity from channel top around 3450. 1st target is channel bottom at around 3358. 2nd target is at 3275.
The monthly money supply delayed by 90 days tells you how explosive coming months will be. Be prepared!