Hey guys, used to come here quite a bit but unfortunately I work full time now so can’t keep up with both hotcopper and fintwit.
Just wanted to share my opinion. I am rubbing my eyes here. I am not sure if these just all align or I am putting in some bias. Maybe, I’m a week or two early on these calls as well… I’ll let the price dictate where I put my money. But please give me some feedback on what you see on this technical analysis.
Bitcoin: most people are bullish and I am too long term. But I definitely see 1 final shakeout.
Head and shoulders pattern that require some confirmation but...Looks like distribution on the 4hrly.
This is the daily chart.Bearish divergence on RSI.
MACD potentially crossed.
Let’s look at the inverse chart - to remove bias’...
GOLD:Interesting that it looks like gold is at the same precipice.
Everyone expects gold to go to all time highs - I also share that view. but I am concerned to think that there will be one more shakeout.
Long term chart: I definitely think that this cup will be tested for the final time. But it seems to me like everyone thinks that gold is going to all time highs next week? Once I see the banks and newspapers start shouting - buy gold buy gold, I am instantly cautious.
NASDAQ - NDX weekly - massive engulfing candle that yet again needs confirmation.
Has a gap above on the daily to fill.
but IF it’s a break away gap, yikes that’s ugly
$SPX
Not sure why all the bulls are cheering. S&P500 did not reclaim prior support. In fact it rejected it clearly. This “COULD” be a massive trap for bulls that bought in at the end of the day yesterday. If we gap down on Monday (not on the asx but on THE S&P) they will all panic sell.
Friday's action was an “inside day” where the price is within Thursday’s range - which I half expected. There are a LOT of gaps underneath this price action. Maybe I’m a few weeks early, please stay cautious.
I see the ASX just having another inside day. Maybe a bit of resilience... but no massive move. It will follow the leader, the S&P - Monday night.
@mirren @DrSeuss @mitta @Jako8557
