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Relief Rally?Hello Traders, I will get straight to the point today. It looks like a bit of a reversal, or is it a bear market relief rally? What I'm looking at: If price moves above around 408.80-409.5 and keeps momentum, watch out for a gap up around 412. This is likely a relief rally, and we are probably just reverting to back to the trend because we were QUITE a bit oversold, but we are seeing a low volume move upward. Like I said before to those who follow me here and elsewhere, the downtrend is weakening, but lets not get ahead of ourselves. This isn't like after COVID hit or March '09 (the month the Bull market was reborn), we LIKELY won't have a recovery like that without a catalyst (i.e. Ukraine war end, steep inflation drop, steep oil demand decline/supply increase -aka priced too high/Saudi production increase). Technically speaking, we're hitting a small supply zone around 406 it might push back down a little then move upward to keep the trend pattern going. Around 410.90 another Supply zone on the chart. We don't hit the big ones until 417+ but I don't think it's likely we'll make it up that far. I'm getting a little ahead in this prediction, but this is for preparation for my followers or anyone who needs a little guidance. Cheers, Mike (UPRIGHT Trading)
AMEX:SPY
by UPRIGHTTrading
BTC broke the neckline.I’m sorry for the people who lost much of their money. But what to expect now? there is a possibility that we will now see a small rally back to the neckline, we will then test that point (≈33500$) to see if it serves as resistance. Yesterday we did this same process with the SPX, and it's not looking very good yet. Of course I'm not a fortune teller either, but please beware. For some suggestions on what's important not to forget, take a look at the 'related ideas'. I wish you the best! This is not financial advice. Please leave a comment if you have any questions. BITSTAMP:BTCUSD
BITSTAMP:BTCUSDShort
by StijndeVries
$SOFI earnings next week 👁‍🗨*This is not financial advice, so trade at your own risks* *My team digs deep and finds stocks that are expected to perform well based off multiple confluences* *Experienced traders understand the uphill battle in timing the market, so instead my team focuses mainly on risk management* Today my team entered digital finance company $SOFI at $6.70 per share. Our take profit has been set at $10. Earnings are expected to be reported next week. Our entry: $6.70 Take profit: $10 If you want to see more, please like and follow us @SimplyShowMeTheMoney
NASDAQ:SOFILong
by SimplyShowMeTheMoney
4
Today's Closing on a local Triple Top - Where to Now?Given the somewhat bullish news from the Fed today, a rate hike of only 50 basis points and no larger hikes in the near future, things seem to be looking up. The news gave way to a major rally midday, erasing losses since- well, last Monday. However, it should be noted that the fed slipped in a dirty curveball: in June it will start a multi-trillion dollar balance sheet runoff starting June 1st. In the month ahead, it should be expected that the market will be trying to gauge what this will mean for them. As a hint, the last time the Fed dumped its balance sheet in response to extreme economic conditions was in December of 2008. October's decline caused a run-up in the fed's balance sheet as the housing market began to tilt sideways. When things seemed stable, the Fed ran off nearly 20% of its holdings in the 2 months following- before the stock market reached its lows that following March. This coming runoff isn't nearly as drastic, as the fed maintains a $8.9 trillion fund and is only giving up $47.5 billion a month for the first three months, and $90 billion for the next three. This equates to only a 4.6% drop, over a much longer period of time. Will the balance sheet runoff be enough to curb inflation? Only time will tell. However, I take it as a sign that we've not yet hit the bottom in this market. Continuing this thought, let's look at the hourly chart for the S&P 500. We're seeing some resistance at the 4300 mark. We seem to have closed on a Triple Top, and today's rally wasn't enough to blow past this target ( again! ). The previous two times we've hit this figure, it looks like we've declined by 3% & 5%. My best guess is that if tomorrow does not carry this rally's momentum higher, we'll be seeing a 8% decline from here by Monday. If after fully digesting today's news the market decides to continue its rally into tomorrow, we could even reach the top of this bearish channel. However, the RSI on this chart seems to have topped out and the MACD seems ready for a reversal. Basic technicals seem to point downward from here. If we break out of the bottom of this channel, as outlined in the chart, it could spell gloomy days for the market overall. This resonates with the nervous "big crash" bears, I'm sure. But what do you think? Are we to continue the rally this week, or bounce off of this triple top?
SP:SPXShort
by CozmicKnight
2
Breakout on the MMC chart?NYSE:MMC Yesterday the price closed above resistance, making a new ATH. What are your expectations for MMC? Please leave a comment. This is what I see on the chart, please correct me if I am wrong. - We have a purple square as support, because MMC opened higher there is a small gap. - I see a Cup and Handle pattern that started on 30-12-21. Cup (30-12-21/7-4-22) Handle (8-4-22/19-4-22) - There is a big volume shelf around $171, this could also indicate possible support. - Price closed above the highs of 8-12-21 & 28-12-21 & 8-4-22. This means a new ATH, What I expect: Maybe a small rally from here, or anyway a pullback to the old resistance level ($170.00). I hope that the former resistance level becomes a new support level (Principle of Polarity), and then the price soars to new highs. This is no financial advise.
NYSE:MMCLong
by StijndeVries
DASH - It Is Going To Rally Just Like Zilliqa It is nothing better to see than a bigger market cap coin going parabolic and therefore becoming a leader amongst altcoins. Zilliqa chart is looking extremely similar than a lots of alts, one of them is DASH. I've copied / pasted and properly adjusted ZIL chart to the DASH so that all the dips are in the same timeframe. You can now see how similar charts are. Dash is clearly a grinding bit slower given that it is an older coin (2014), but when it pops it goes similar to what ZIL did and will likely continue to do so as an alt season progresses. If DASH would do the same as ZIL it would be sitting at just above $430 right now, preparing to go above $1k. That is still to come and so we have to be patient. Patience is crucial for a success here. I am not a financial advisor so non of this should be taken as a financial advise. Wish you all successful investment. BINANCE:DASHUSDT
Long
by AVA37
2
XRP - Still On The Track For Explosion During this week XRP made a new local high at $0.93, after that had a few % drop (as expected) to re-test the bottom of the triangle, from where it has broken out of. Next we need to (and we eventually will) brake above the green decending trend line where i also expect a re-test of some kind as this trend line is more than a year old at this point. After eventually breaking above green trend line, which can happen in a bling of an eye sometimes, we should expect a rally to the upwards (like Zilliqa did few days ago), where we also need to watch major fibonacci retracement levels extended over 2021 rally. These are 0.702 ($1.53) and 0.786 ($1.65). Breaking above these and we should be ready to go into a next trading range which i've described not long ago. I am not a financial advisor so non of this should be taken as a financial advise. Be Well. BINANCE:XRPUSDT
Long
by AVA37
$CLSK morning dip buy up 👁‍🗨*This is not financial advice, so trade at your own risks* *My team digs deep and finds stocks that are expected to perform well based off multiple confluences* *Experienced traders understand the uphill battle in timing the market, so instead my team focuses mainly on risk management The crypto market is at its loading zone. My team is loading up shares of crypto related companies that we believe will surely benefit from this rally. Today my team purchased shares of clean-energy software and bitcoin mining company $CLSK at $10.30 per share. Our first target is $12.50 Our entry: $10.30 Target 1: $12.50 Target 2: $9.75 If you want to see more, please like and follow us @SimplyShowMeTheMoney
NASDAQ:CLSKLong
by SimplyShowMeTheMoney
13
AMD has an interesting weekend and (possibly) week ahead. Wow, is all I can say about AMD. It has been a killer week filled with rallies and bleeds spawning from thin god-damned air. What has caught my attention, is this multi-day Head and Shoulders, picture perfect on the 1hr. We saw the usual bleed after right shoulder formulation which allowed us to see these clear supply and demand zones(consisting of a 4 hour supply, 1 hour supply, and a 1 hour demand), and AMD actually bounced off of 2 of 3 of these derived zones as seen in the photo. AMD continued to do AMD things for a bit after the H/S bleed. Now we see many hours candles touching this 109.87 range, 3 times to be exact. In my conclusion, we should see AMD hold between 109.87 to 115.39 (which is the end of the 1 hour red-highlighted supply zone) for the weekend, until institutional and retail investors have their hands on deck come Monday. Say AMD happens to fall below 109.97 resistance? Simple, I see AMD falling to 102.75 to enter that demand zone it had previously bounced off of and can make for a nice put setup. (ORANGE LINE) Say AMD happens to break that supply zone completely, what now? Well, one of our derived zones is still pure, untouched. We should see a push to 118.05 setting up for a nice call setup, which is the gate to the demand zone. Here would be an instance to set a rather conservative SL (if one hasn't been set already), this zone has yet to prove its validation and I would hate for someone to lose their money chancing a demand zone invalidation. (GREEN LINE) Let's make some money boys (or girls), peace.
NASDAQ:AMD
by arikncardenas
Bitcoin rally signal to 43,000~45,000 on weekly 0.3 Genesis FibBitcoin just shifted the weekly chart into positive as seen on the Momentum Oscillator indicator. It is the first time since the several months of bear market we have experienced that Bitcoin finally confirms consolidation at the 0.5 Fib Yesterday, BTC had an much easier win for the 41,3 resistance than expected. Momentum is on the side of the bulls as it will take a either a major world event or an almost impossible effort from the bears to shift this back into sub 40,000 price mark. Without a doubt, if Bitcoin breaks through the upcoming resistance at 0.3 genesis Fib, respectively ~43,600 price mark, BTC will be shooting towards 45,000 without much resistance. At 45,000 it is highly possible that retail market will gain confidence into bulls, and with that confidence, Bitcoin will push above the ~50,000 price mark. However, bulls should pay attention for the strong resistance at the 0.2 genesis Fib. Definitely a long signal here, shorts should be closed or extremely closely monitored.
Long
by UnknownUnicorn35305092