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The Misleading Rising Wedge on Ethereum Over the past few weeks a prominent trader who I admire has been adamant about Ethereum forming Rising Wedge, which is a bearish reversal pattern. I disagreed with this view but acknowledged the concern raised as any reasonable trader would. However, It caused me a bit discomfort as I have a large position in Ethereum...

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CleanSpark Inc - NASDAQ:CLSK This is a unique mid tier BTC miner that is edging ahead of Cipher Mining in terms of size, production and reserves held (See below for the pecking order of 4 BTC miners). The CLSK Trade - Ideal entry would be bounce off 200 DSMA - Risk/Reward from here is 5.55 which is not bad - Stop Loss placement at 200 DSMA or POC Chart...

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Optimism- CRYPTOCAP:OP This is a potential long term asymmetrical trade with 640% potential and a -20% loss potential. ⌛️ Potential Ascending Triangle Breakout ✅ OBV Volume breakout and retest ✅ An increasing volume profile (peaks and valleys) ✅ DSS Bressert Cross The entry and stop loss is noted on the chart. The 4.236 fib ext level aligns with the...

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Total Crypto Market Cap - CRYPTOCAP:TOTAL This was one of the first charts I shared here on Trading view in April 2023. ✅ Above 10 month moving average ✅ 9 months into a 29 month bull run timeframe The crypto industry is just short of a $2 trillion market cap valuation. I hope this chart helped get the wind at your back for this long term bullish...

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Macro Monday 20 Philadelphia Fed Manufacturing Index While the Philly Fed Manufacturing Index (PFMI) is a regional report generated from surveys in Philadelphia, New Jersey, and Delaware by the Federal Reserve Bank, it is particularly useful as it provides an advance indication of the Purchasing Managers’ Index (PMI) report which is released up to a week after...

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TOTAL 3 Altcoins minus BTC & ETH ✅Price has broken above the 200 DSMA ✅Price has broken out of the pennant ⏳126th week is 1st April 2024 Earlier today I shared TOTAL 2 which includes CRYPTOCAP:ETH and suggested that including ETH altseason could initiate from Feb/Mar 2024. TOTAL 2 breaking out ahead of TOTAL 3 makes a lot of sense as this is what has...

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A repeating pattern and potential opportunity All three companies have some form of crypto offering. NUbank, Coinbase and Sofi appear to have similar bottoming patterns with double bottoms and a head and shoulders style reversal. The charts are not identical but you can clearly see a repeating testing of levels and a price cluster (red shaded area) which...

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TOTAL 2 Crypto Total Market Cap Excluding BTC ✅Above 100 week SMA ✅End of 149 week Cycle (new bull cycle starts) ✅Break above POC 🚨One last pull back (Make it count) March 2024 is looking like a key month (You have 4 weeks ~ dip the beak) We watch for a failure too, if we lose the 100 week (first warning) and if we exit the lower pennant with a...

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Bitcoin - Ranging Before Halving I believe Bitcoin will find it hard to break above the $49.1k resistance or fall below the $37.3k support before the halving on 18th Apr 2024 (70 days from now) ▫️ We have initial underside support from the 100 day which will likely align with the POC eventually at $43.5k ▫️ Then we have historic support at $37.3k which...

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New York Community Bank 🚨 ❌Price takes out the June 2000 lows ❌Market cap falls from $9.6b - $2.82b since July '23 (over $6.7 billion of valuation lost in 7 months) Is another Banking crisis on the horizon right before the Bank Term Funding program halts on March 11th? Almost one year on from the U.S. Banking Crisis in early March 2023 and we are starting to...

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NIO - NYSE:NIO I have a feeling this will be an unpopular recommendation but the chart is telling there is an opportunity at hand to take a low risk trade. ▫️ NIO is 90% down from $66 ATH ▫️ MAX China FUD (contrarian senses tingling) ▫️ TA allows risk adjusted entry The Chart ✅ RSI Bullish Divergence ⌛️ Potential green weekly reversal candle now ⌛️ Pending...

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Axsome Therapeutics - NASDAQ:AXSM ▫️ Entered a position in Oct 2022 on the bounce off the 200 week SMA (averaging $50.77c per share) ▫️ That position is presently in 73% profit ▫️ I have no intention of selling at present as we have a strong underside support from the 200 week MA, the 200 day MA and high volume trading zone from $70-78. ▫️ This a longer term...

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Eli Lilly - NYSE:LLY Earnings Rep: $2.49 ✅ Exp: $2.29 - 8.45% HIGHER Revenue Rep: $9.35b ✅ Exp: $8.94b - 4.55% HIGHER Company Summary Eli Lilly is the worlds 9th largest company by market cap at $670b and they have reported positive earnings and revenue both coming in higher than expected for Q4 2023. The pharmaceutical giant booked fourth-quarter...

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ISM Services PMI Rep: 53.4% ✅ HIGHER THAN EXPECTED ✅ Exp: 51.7% Prev: 50.5% (revised down marginally from 50.6%) The reading for ISM Services PMI came in much higher than expected with services remaining in expansionary territory for Jan 2024 (>50 Level) Whilst ISM Manufacturing PMI came in at 49.1 on the 1st Feb (<50 level) and in contractionary territory,...

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The long view on the China CSI 1000 Index ▫️ The lows of 2018 at $4,065 have not been taken out ▫️ Price is currently at $4,293 above this level 🚨The RSI has reached its most oversold level ever reaching down to a sub 17 level. Is this an opportunity or a collapse?

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Please review my prior post for a more detailed breakdown Released quarterly, the Senior Loan Officer Opinion Survey on Bank Lending Practices (SLOOS) is a survey of up to 80 large domestic banks and 24 branches of international banks to gain insight into credit, lending and bank practices. The Federal Reserve issues and collates the voluntary surveys. The...

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MACRO MONDAY 32 – The SLOOS Released Monday 5th Feb 2024 (for Q4 2023) Released quarterly, the Senior Loan Officer Opinion Survey on Bank Lending Practices (SLOOS) is a survey of up to 80 large domestic banks and 24 branches of international banks to gain insight into credit, lending standards and bank practices. The Federal Reserve issues and collates these...

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U.S. Small Cap 3000 - TVC:RUA ✅A new ATH breaking above the Dec 2022 ATH U.S. Small Cap 2000 - TVC:RUT 🚨Continues to demonstrate relative weakness Light Blue by area on the chart 🔵 The U.S. small cap 3000 finally caught up with the other major indices such as the SP:SPX and NASDAQ:NDX as it previously has been demonstrating relative weakness...