KCTraders 2 minutes reading from Bitcoin

Bitcoin, Ethereum, Ripple, Litecoin, Nasdaq, Canada: Price Analysis

Looking like a rough week ahead again. Very unpredictable as the liquidation grab didn't happen last week during CPI results.

This has to happen either way, bears or bulls will get liquidated.

Still expecting a very violent move 💥

BTC Bitcoin ETH Ethereum XRP ADA Luna

🟢 BTC has shown a lot of strength compared to regular markets, still in descending wedge and yet to break out. BTC has been below the 200 MA for over 4 months, last seen in 2018-2019.

KEY support 17,6k LRange is 12,2k-15,6k HRange is 20.5k-21.5k/25.5k

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🟢 SPY closed last week on a knives edge and could be set to capitulate. RSI previously dropped below 20 in all bear market crashes, yet to happen. Continuing to create lower lows and lower highs so until this reverses, trend shall continue

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🟢 NDX (Nasdaq100) similar to SPY. Broken below the 200 MA - last seen back in 2008 and 2001. Took around 3 yrs before we touched the 200 MA again and then a year after dropping below in 2008 this would average out to mid 2024 before hitting it again.

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🟢 US500 (SPX500) Possible double bottom? Bounced off support but looking weak ahead of week open. Also been rejected at the middle range of the parallel channel started back in October 2021. Either hold support at 3550 or could drop down to 2925.

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This post is based on this twitter thread.


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