Good Evening and I hope you are well.
comment: Cleanest breakout retest of the big bull trend line from 2024-08 one could ask for. I highly doubt bulls want to buy this above 21000 tomorrow but these moves are so unlikely that anything can happen. Only rough guesses from me here. I will only look for shorts.
current market cycle: trading range more likely than continuation of the bear trend
key levels: 19000 - 22000 yeah. no typo.
bull case: Bulls wettest dreams came true today but this week the market took those profits away quickly afterwards and right now I have no reason to believe that it’s more likely we will continue higher than down again. Ask yourself, if you are a bull and made 10%+ today, will you bet on making 15 or locking in those sweet profits?
Invalidation is below 21000.
bear case: Bear trend line is valid until broken and I doubt bears will let that happen. Too much uncertainty and risk for the markets right now. Bears need to quickly trade down below 21000 tomorrow and by then I think bulls will be in give up mode again. We could range some first but currently the markets are moved by tweets from orange face and they move 10%+ up and down. Wildest of times and you just have to take the momentum trades. Above 22000 I am absolutely wrong about this and market is completely neutral again. Best for bears would be to keep it below 21900.
Invalidation is above 22000.
short term: Neutral.
medium-long term from 2024-03-16: Will update this over the weekend. Bear targets are met. I can most likely see this going sideways for months or years now.
current swing trade: None
trade of the day: Not writing anything about this. You either got lucky having longs when the tweet came or not. Otherwise selling 20000 before US open was a decent trade.
comment: Cleanest breakout retest of the big bull trend line from 2024-08 one could ask for. I highly doubt bulls want to buy this above 21000 tomorrow but these moves are so unlikely that anything can happen. Only rough guesses from me here. I will only look for shorts.
current market cycle: trading range more likely than continuation of the bear trend
key levels: 19000 - 22000 yeah. no typo.
bull case: Bulls wettest dreams came true today but this week the market took those profits away quickly afterwards and right now I have no reason to believe that it’s more likely we will continue higher than down again. Ask yourself, if you are a bull and made 10%+ today, will you bet on making 15 or locking in those sweet profits?
Invalidation is below 21000.
bear case: Bear trend line is valid until broken and I doubt bears will let that happen. Too much uncertainty and risk for the markets right now. Bears need to quickly trade down below 21000 tomorrow and by then I think bulls will be in give up mode again. We could range some first but currently the markets are moved by tweets from orange face and they move 10%+ up and down. Wildest of times and you just have to take the momentum trades. Above 22000 I am absolutely wrong about this and market is completely neutral again. Best for bears would be to keep it below 21900.
Invalidation is above 22000.
short term: Neutral.
medium-long term from 2024-03-16: Will update this over the weekend. Bear targets are met. I can most likely see this going sideways for months or years now.
current swing trade: None
trade of the day: Not writing anything about this. You either got lucky having longs when the tweet came or not. Otherwise selling 20000 before US open was a decent trade.
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Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.