Classical technical analysis using Fibonacci and Elliot wave analysis.
On the #Nasdaq100, #SPX500, #Silver, #Bitcoin, #Ethereum, #XRP, and #NEO
The Nasdaq closed above the expected fib236 resistance and ran up well in the European trading session. There's resistance at the daily 50 moving average which is about to cross the 20 day (bearish). The S&P500 has had an equal measured move. A three way ABC (Elliott Wave) move! Coming down to the 618 fib extension (not fib retracement). Still the spx has the 50 day moving average to tackle although the perfect bounce at the fib extension is positive. It means the spx is ready to go back up.
Silver has tested the 382 fib from the March lows perfectly and bounced up a dollar since. $24.41 is the target if you were to go long on a swing trade basis. Overall, I am long term bullish on silver. The all time high from way back on January 18, 1980 at around $49 is under threat in the next two to three years. Now if you are in a leveraged position in silver the gains will be very lucrative, if my prediction, (based on classical technical analysis) at a probability of 70:30 (high in trading) the XAU/XAG double bottoms on a 15 year time frame.
Bitcoin has been in the 618 channel in the big picture having recovered perfectly to the 382 fib, the best thing for Bitcoin now is to double bottom back down to $9,810 to $10,207 (the 618 fib retracement). That range anywhere is a bottom in amongst the wicks of the overall correction. That will be an equal measured ABC correction and BTC will have truly bottomed and be ready to pick up a bid.
Ethereum while perfectly supported at the fib 382 from the lows in March to Sept 1st highs, the move is not equally measured and the C wave is yet to complete. This could see Eth retrace to $288. On the way $325 the 100 day moving average will support though likely won't hold.
Ripple labs XRP is receiving very strong and londg support at the golden pocket. Having been in the 618 and fib 50 channel since Sept 2nd. If XRP loses this level then its a long way down to the 786 at $0.20386 or the 200 day moving average at 0.21423.
I discuss the volatility involved in crypto. How crucial technical analysis is and you tubers with huge 100k subscribers on fundamentals only are noisy and add huge risk and cynicism from outsiders to crypto. TA is a sought after and essential skill if you want to trade.
#trading #trading #bitcoin #forex #btc #ethereum #technicalanalysis #defi #forex #currency #technicalanalysis #eth #fx #cryptocurrencies #xrp #stockmarket #stocks #coinbase #cryptocurrency #blockchain #markets #crypto #binance #ltc #gold #exchange #chainlink #silver #preciousmetals #link #ether #indices #economics #investing #fib #investors #capitalmarkets #di #verasity #ico #stockmarketinvesting #9yearsincapitalmarkettrading #investments #investor #funding #funds #zilliqa #comment #like #indicies #content #people #crowdfunding #share #venturecapital #chaikinmoneyflow
On the #Nasdaq100, #SPX500, #Silver, #Bitcoin, #Ethereum, #XRP, and #NEO
The Nasdaq closed above the expected fib236 resistance and ran up well in the European trading session. There's resistance at the daily 50 moving average which is about to cross the 20 day (bearish). The S&P500 has had an equal measured move. A three way ABC (Elliott Wave) move! Coming down to the 618 fib extension (not fib retracement). Still the spx has the 50 day moving average to tackle although the perfect bounce at the fib extension is positive. It means the spx is ready to go back up.
Silver has tested the 382 fib from the March lows perfectly and bounced up a dollar since. $24.41 is the target if you were to go long on a swing trade basis. Overall, I am long term bullish on silver. The all time high from way back on January 18, 1980 at around $49 is under threat in the next two to three years. Now if you are in a leveraged position in silver the gains will be very lucrative, if my prediction, (based on classical technical analysis) at a probability of 70:30 (high in trading) the XAU/XAG double bottoms on a 15 year time frame.
Bitcoin has been in the 618 channel in the big picture having recovered perfectly to the 382 fib, the best thing for Bitcoin now is to double bottom back down to $9,810 to $10,207 (the 618 fib retracement). That range anywhere is a bottom in amongst the wicks of the overall correction. That will be an equal measured ABC correction and BTC will have truly bottomed and be ready to pick up a bid.
Ethereum while perfectly supported at the fib 382 from the lows in March to Sept 1st highs, the move is not equally measured and the C wave is yet to complete. This could see Eth retrace to $288. On the way $325 the 100 day moving average will support though likely won't hold.
Ripple labs XRP is receiving very strong and londg support at the golden pocket. Having been in the 618 and fib 50 channel since Sept 2nd. If XRP loses this level then its a long way down to the 786 at $0.20386 or the 200 day moving average at 0.21423.
I discuss the volatility involved in crypto. How crucial technical analysis is and you tubers with huge 100k subscribers on fundamentals only are noisy and add huge risk and cynicism from outsiders to crypto. TA is a sought after and essential skill if you want to trade.
#trading #trading #bitcoin #forex #btc #ethereum #technicalanalysis #defi #forex #currency #technicalanalysis #eth #fx #cryptocurrencies #xrp #stockmarket #stocks #coinbase #cryptocurrency #blockchain #markets #crypto #binance #ltc #gold #exchange #chainlink #silver #preciousmetals #link #ether #indices #economics #investing #fib #investors #capitalmarkets #di #verasity #ico #stockmarketinvesting #9yearsincapitalmarkettrading #investments #investor #funding #funds #zilliqa #comment #like #indicies #content #people #crowdfunding #share #venturecapital #chaikinmoneyflow