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Downtrend

Boring Stock, Getting Close to a Potential Long-Term BreakoutWaiting for a monthly close above the 8-year downtrend line to get in. The chart is pretty messy but many other signals are converging around that area (200-month EMA, 50-month EMA, .382 Fib). Price had a false breakout early in the downtrend based on the trendline I drew but I drew it where it is because it had many hits along this line. If price breaks out here I think it's significant because it would also be breaking above the 200-month EMA after dipping below temporarily (which it hadn't done for a really long time). I'm waiting for a monthly close above the 200-month EMA to start a position, and will plan on adding more if it can get about the 50-month EMA. I don't have a stop loss, this is a long-term buy and hold and collect the dividends if it can breakout. If it has a false breakout and goes down, I'll just buy up more at certain intervals and will update this idea. I think from looking at this chart and reading/listening to some of the other ideas about this stock that it can surpass the highs it made about 8 years ago and my price target is $270-$300 where I would start to think about using a stop loss and protecting profit. I like using stop losses eventually because it can let a stock potentially run rather than just selling when it hits the target. Anyway, waiting for another week to make a decision. If price ends up failing here, I think I will probably be able to get in down around $100 or maybe even a bit lower and I would consider starting a position there but I like buying on breakouts rather than trying to catch a "falling knife". One more thing on this stock, it hasn't participated much in the market recovery since the March lows from the covid panic selloff and that makes me like it also (just look at a long-term chart of Microsoft after the tech bubble, for a long time it pretty much traded sideways and now look at it, I'm not saying IBM will do the same but it could, I'm not one to limit the potential of the stock market long-term, over long periods of time it goes up on average). **These are just notes about what I am personally considering doing and are not recommendations to trade. If you decide to follow any of this, trade at your own risk and keep a long-term perspective, I'm talking this trade could take the better part of a decade to play out (not weeks or months, that would be a short-term trade which is usually not for me).**
NYSE:IBMLong
by PatientContrarian
3
REZUSDT | CONTINUATION DOWN?Asia session insights: Are we heading lower? The stage is set for a potential sell-off, and REZUSDT could be in the spotlight. Market Context Bitcoin is still trading in a downtrend, and even a small downward movement could trigger a larger sell-off in the altcoin market. Let’s see if REZUSDT will follow suit. Bearish Signals • BTC Downtrend: Bitcoin continues its downward trajectory, putting pressure on the entire crypto market. • Asia Session: Historically, the Asia trading session can see significant movements. If BTC drops, it could accelerate sell-offs in altcoins like REZUSDT. • Price Action: The recent price action in REZUSDT shows weakness, with lower highs and a potential breakdown from current levels. Strategy Given the current market conditions and the bearish signals, I’m betting on a downward continuation for REZUSDT. Let’s capitalize on this potential move. Action Plan Going short on REZUSDT, targeting a continuation of the downward movement. Are we going to see a further drop during the Asia session? Let’s find out! 🚀💥 Good luck, everyone!
Short
by minno91
Well This Isn't A Good Look For BitcoinIt's been a hard couple of weeks in the crypto markets, and it is not looking much better when you zoom out to the weekly timeframe. The Logical Trading Indicator is flashing a sell signal on this week's candle which means that we have some serious downward momentum hitting the Bitcoin market. For you new guys, this means that there is way more selling pressure coming into the market than buying pressure. Trading is nothing but a game of supply and demand. My thought is that the Bitcoin ETF news event earlier in the year caused us to go into an early cycle that broke all time highs WAY too soon. Now we are paying the price for that, literally... Now that the big boys of Wall Street are manipulating the price, there is no telling what is going to happen. As retail traders, we just need to be able to catch and ride the waves because we don't have enough capital to move the price on our own anymore. What I see happening is that if this weekly candle closes with this sell signal, that will drive the price of Bitcoin down closer to the next somewhat level of market structure, which is around $50k. After that, the next solid level is around $37K-$40K. Not saying it's going to happen, we all want to be optimistic about the price, but we have to face reality that Wall Street wants cheaper Bitcoin so they are going to short futures until they get it to the price they want to buy it at. Once they get their fill, then we could see some real fire works when it comes to a pump in price, but we just have to be patient and ride their wake for a while until it happens. It's very important to not get caught up in the noise on social media and focus on the data in the charts. Fundamentally, Bitcoin is not making any changes. The only news is about regulations and on and off ramps, but nothing about the actual blockchain or it's mechanics. So based on that, BTC traders can really just focus on price movements for now. Don't let a small price pump fool you either, Wall Street wants cheaper Bitcoin, and they will get what they want. Now on the flip side of this, if we hold this level as support, which honestly is not looking like the case as of this post, but if buyers do hold this level, we look at this dump as a shake out and may start the next leg up. So again, we have to be ready for anything. This is really why I just let the Logical Trading Indicator tell me when it's time to pay attention and when to trade. Are you bears ready for another ride down? Or are you bulls gearing up for a moonshot? Be careful out there in these volatile markets and trade logically!
COINBASE:BTCUSD
by thelogicaldude
BTC Next Move 53,000The price has fluctuated between approximately $60,546.94 and $61,431.89 in the last day. In the short term, the price shows a downward trend, as indicated by the recent lower highs and lower lows since mid-June. Over the past few weeks, there's a clear bearish trend, with consistent declines from the highs of approximately $72,000 in early June. Around $60,500, which is the low of the last trading day and a level where buyers have previously entered the market. Around $62,000, a psychological level and a recent high where selling pressure may increase. The previous high near $66,000, where the price faced significant resistance before declining. The volume appears relatively consistent, with no significant spikes or drops. This suggests that the recent price movements are likely supported by a stable amount of trading activity, rather than being driven by low-volume fluctuations. Given the recent downward movement, the RSI might be approaching oversold levels, suggesting a potential for a rebound. The price is currently consolidating, and traders should watch for a break below this support level or a recovery above $62,000 for clues about the next significant movement. The lack of strong volume spikes suggests that there might not be a significant change in trend unless accompanied by higher volume. It's crucial to keep an eye on macroeconomic factors and market sentiment, which can significantly impact Bitcoin's price. Strong Support at 53,000
BITSTAMP:BTCUSDShort
by The_Golden_Path
15
Is the mexican index in danger?Even with great companies conforming this index, it's impossible to ignore the effect that Claudia Sheinbaum's victory had over the markets. It's shocking to see the pessimism of the markets after her victory. Unfortunately, this has now created an infliction point in the BMV:ME index. With no recent clear support, it could be possible for price to drop quite a bit more, opening great buying opportunities. However, if price does not begin to reverse this trend soon, it's possible that we will test lower lows.
BMV:MEEducation
by DarkMessiah777