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Pullback

Nice runThe SP has had a nice bull run the past 5 weeks. Now is hitting an important psychological and technical resistance at 500. It might try to break it on the upcoming days but I think it's going to pull back hard soon. I'm already taking profits I have cash sitting there until new opportunities come. I still have some long positions but I'm mostly in cash. Also I'm long in the Dollar on short term. Looks strong, I'm shorting AUD/USD and GBP/USD. Don't be greedy, be smart and patient.
AMEX:SPY
by ArturoL
BTCUSD - Is the bull-rally over or just the beginning? Hello traders, investors and community. Today i am analysing BTCUSD and what will probably happen next. In my chart we are looking on the daily price of BTCUSD. In my chart you can see the huge suppy zone right where we got rejected the last days on june 26th. This is a critical zone because we have supply there from the bear-market 2018, you see the BTCUSD price has just marked some upthrust over the 11800 - 14000 level and got rejected in the supply zone, this is because traders taking profit and more important investors who held BTC from old days leaving the market. In my chart you can see this dashed dark blue trend line, this is an important area for BTCUSD because we have temporary support here. When we cross the blue trend line in this are which you can see on my chart the next target will be the second large blue trendline and the support zone in green which you can see on my chart. We have also good support there provided from the high 9900, you can see it at the dashed light blue trend line. My expectation is that BTCUSD gets some upthrust back in the supply area where it will be rejected by the huge supply lying in this area. When we come back to this area i will open a short position there at 13000 - 13700 with targets at 9500 - 9000. This is a good oportunity to trade the upcoming turbolences. Also looking on the RSI provided in my chart you can see that the RSI reached a critical level at overbought conditions, there is also a bearish divergence which makes the probability higher we are facing pull-backs in the future. Practically speaking the bull-rally can not be over, there are just some turbolences coming the next days! After the pull-back from the support zone we have to see if BTCUSD makes a comeback and is going to form new highs or if it fails. I am optimistic that we can easily reach new highs after the pull-back, but it is always better to keep the other possibilities in mind until then i will trade this market on the SHORT side. Have a great day! I hope you enjoyed my analysis! This is only educational information and should not be used to take action in the markets! Will be back analysing crypto, forex, stocks! Peace and love to everybody!
BITFINEX:BTCUSDShort
by VincePrince
1
RSI Negative Divergence: Possible Market Pullback (SPY, QQQ)UNDERLYING PRINCIPLE: Divergence between Futures/Stocks/ETFs and their Relative Strength Index (RSI) can be used to predict a bottom or a top. This method is more useful in determining a reversal in overall market than an individual stock. To elaborate the principle let's assume the market is making higher highs but corresponding RSI is making lower highs. Together this uptrend in the market and downtrend in RSI show that the market is losing strength as it is climbing up. Which essentially implies a reversal/pullback in the market. The same principle can also be applied in determining a possible bottom in the market. Say if the market is making lower lows and corresponding RSI is making higher lows. In that case we can expect an upward reversal of the market. Current Scenario: Possible Pullback To inspect the current market I used weekly and daily charts for Nasdaq and S&P 500 ETFs NASDAQ:QQQ and AMEX:SPY . In NASDAQ:QQQ weekly the negative divergence is eminent as the ETF is making higher high but the RSI is making lower high. If we zoom further into a daily setup then the same negative divergence can be spotted: For AMEX:SPY on the other hand no divergence can be observed on a weekly setup: But on a daily setup a Negative Divergence can be detected: Recent History: Bear Market Bottom As you can see in both weekly charts, the recent bear market bottom has been identified using the same method: A Positive Divergence. Thanks for reading.
AMEX:SPY
by Trading-Economist
ENS USDT long positionObserving the current market dynamics, it is evident that the price has recently breached a significant resistance area. Presently, it is in the process of completing a pullback to that same area. Notably, there is a robust order block situated within this region, emphasizing its strategic importance. Furthermore, the 0.5 Fibonacci retracement level coincides with this area, adding another layer of significance. Considering these factors, my expectation is for a potential increase in price. please follow and support for more analyses
Long
by iiarvm
Buying $TAO Retrace with Fibonacci LevelsKUCOIN:TAOUSDT had an incredible move up last month, nearly 2x from the mid-300s to a high of $480. We've hit a short term high, and seem to be in a consolidation phase. How low will this go? Well, if we look at the Fib Retracement levels from the start of this run up to the recent high, we can identify three likely entry points: $385 $360 $315 If you want to invest in Bittensor's innovative AI technology, you can buy at market price right now; or, you can set limit orders for the levels above, to DCA into your position. Just keep in mind, the price may not reach these lows, and could turn bullish again at any monent. If/when Binance lists this token, or Coinbase finally changes its flawed ranking on it, or a major tech company announces a partnership, this token could moon. 🚀
Long
by tokentradertv
1
BITCOIN|Weekly roadmap and important areasHello guys, I hope you are doing well. Let's go for the weekly bitcoin outlook. We are in the 4-hour time frame of Bitcoin. I have told you many times about the fall of Bitcoin to the $41,000 range, as we expected, the downward movement as a settlement reached the order block area. We have to see how the price reacts at this level, if we see bullish signs, we can confirm to enter buying positions in smaller time frames. For selling positions, it is better to wait when the price reaches the supply level (42,380-42,830) and look for selling positions until the target range of 39,000 If it breaks the supply area with a significant upward movement, we can look for sell positions in the next supply area (45780-46380). In my opinion, it is unlikely that Bitcoin will be able to see the price of 47,000 again. Because we can see in Dominance Tether that we had a descending channel in the four-hour time frame that was broken upwards and the pullback hit the support level and now it can move upwards well.
Short
by Golden_Star1994
3
Pre halving BTC: institutional greed, chaos and orderWith less than 100 days remaining until the next halving, BTC has followed the projected trajectory. Given the buzz surrounding ETFs and the current market conditions, a pullback seems probable. The initial support rests at 36k, with the subsequent support at 32k. The initial support will probably uphold the price, so I'd suggest a 65/35 liquidity split between these two zones. Until the all-time high is broken, discussing the next bull run may seem premature, but it's important not to underestimate institutional greed and Bitcoin's inherent scarcity.
OANDA:BTCUSD
by pouyanev
2