BTCUSD is currently sitting on a weekly support and forming a huge pennant which usually break upwards. This is also price area when Elon Musk got vocal about his interest in Bitcoin.
Bitcoin had a nice dip of around -57% from the top and consolidating while sitting on weekly support. Historically such dips and then consolidations have been a very good places to...
SBI has broke out of 10 year long consolidation range. It re-tested the breakout candle and starting to curl up again. Theoretical target is 510 but I think it shoots way above that.
Fundamentals also line up with bullish bias, with lots of M&A and GoI giving SBI more business.
14 May 2020 is halvening date, date after which miners rewards will be cut in half which essentially means half supply. Bitcoin has broken out of bearish market structure with recent rally from $3.2k to $14k. But it needs to retest the lows(/retest the broken bearish trendline) it made in Dec'18. Is it going to be a higher low or lower low, it needs to be seen. I...
If ETH breaks support of range low, then it is staring at abyss. First target would be $45 and ultimately $14. But if ETH holds range low then retest of range high will be in play.
This is a very common pattern. First after establishing range, price tries for a fake breakout and dumps below the low of the range and then continues the trend. ETH is trying to enter this range. ETH has been accumulating for a while now, it should see expansion for coming month. Target is 650-700 . I am buying every damn dip on this.
Seems like Nifty is in a distribution range. If weekly closes below the blue box then I think it is headed for 9600 and eventually 7000.
Reference to Wyckoff distribution. school.stockcharts.com
DJI could be in a big distribution range right now. This could be UTAD test in Wyckoff Distribution if index gets back into the range. We could see a big selloff from here on.
Reference: school.stockcharts.com
Nifty gap has been filled. Trend is bullish as long as Nifty hold Monday low (stop loss: 11532). Keeping an eye on weekly as well, if weekly turns out to be bullish 12500 is the target.
