Using the Bjorgum Super script with arrows and the Bjorgum TSI shows that MARA is waking up.
As we always say, after a bullish daily close, we will remain bullish until a bearish daily close. With that being said, there was def a short opportunity today after reaching our buyside goal. We will continue to track the development here and keep you on point with expectations. Subscribe & Share this with a friend!
Good Evening and I hope you are well. comment: Very strong selling followed by very strong buying but bears defended where they had to. Another one for the 50% retracement if you go from ath down to 22348, the 50% is around 22849 and market stopped the bounce pretty much there. Now we have a big gap up from 22357 up to 22707 but I doubt this will stay open. My bias is bearish with stop 23091 but for now we can’t expect market to drop below 22300 since the buying down there was so strong. current market cycle: bull trend until trend line is broken (daily close below 22300) key levels: 22000 - 23351 bull case: Bulls reversed 78.6% of the selling almost to the tick. I let you figure out which glorified pattern that is. I do not care about them nearly as much as others. I only care about the 50% and then maybe 30% or 60% to determine how strong the pullback is. Bulls showed strength by rallying for 500+ points and that naturally makes me think the downside is limited for now. Problem for them is, the rejection from 22351 on Monday was so strong that they likely won’t buy high again and wait for pullbacks. Since bears also showed strength, we will likely continue sideways. Bulls need something above 23091 to retest 23355 or go higher. Invalidation is below 22300. bear case: Bears had an amazing small-pullback-bear-trend but bulls bought heavily the lows on the news that the EU will do a new fund and Germany will also likely do new debt to finance defense and infrastructure stuff. Does it matter? Not really. Clear descending triangle for us to trade until we make higher highs or lower lows. We are above the 50% of it and I favor the bears to retest at least 22400 tomorrow. So shorts close to 22800 are reasonable. Bears also have going for them, that lately not-bad news got bought but then reversed to the downside, which I believe suits the sell-the-rip market we could be in. US indexes will likely have more downside over the next weeks, since this whole move down could be seen as a bigger W1 on the weekly chart for sp500 and nasdaq. Dax will follow them, just takes a bit more time I guess. Plan for this week is still to hit 22000 and then some strong moves down to 21000 over the next 1-2 weeks. Invalidation is above 23091. short term: Neutral around 22700. Bearish above 22800 and bullish below 22450. Strong moves to both sides will likely result in sideways movement and not a strong breakout to either side. My thesis is still that Monday was a higher high major trend reversal and we could have seen the highs. medium-long term from 2024-02-26: As much as I would love to see this 30% lower, it’s not happening anytime soon. Market will probably has to move sideways for some weeks before this could go down. Daily close below 22000 is needed to turn this neutral and end the bull trend-. current swing trade: None trade of the day: Small pullback bear trend from EU open 22955 down to 22357. It was so strong, you had to be short. 5m 20ema held like a champ. 22350 was previous support and once market stopped making new lows, bears needed to reduce risk and take profits. Could you have anticipated that the bounce would be good for 500+ points? Hell no. If you took a long, good for you. To make a living from trading you don’t have to be perfect or amazing, you just have to be good and that meant, taking reasonable profits on shorts and not watching them disappear on the bounce.
CRYPTOCAP:BTC Max pains are the harbingers of big pumps! DON'T BE SHAKEN
The price is approaching a strong resistance level and the overbought zone. We need to be cautious of a potential false breakout, where many traders have their stop losses. Additionally, the pair has moved more than its daily average. This is a very interesting zone for selling, where we are definitely looking for sell opportunities rather than buys.
Let's be honest, 9% bump for MSTR is like getting socks twice on Christmas! There is zero value here and will drop so hard. There could be some bubbles from the pro-crypto administration, but there is no long term play there, it's just hot air for a cash grab. Check out MSTZ....it will pop, but you need to do it fast and get out fast too! Best of luck and always do your own due diligence!
03.04.2025 / NASDAQ:OKTA #OKTA Fundamentals. Earnings report exceeded expectations. Technical analysis. Daily chart: Uptrend, update of the previous high. Premarket: Gap Up on increased volume. Trading session: The price has been trading in a wide range of 101.50 - 104.50 for a long time after the initial impulse at the opening of the session. Volumes for buying appeared after 2:00 p.m. and the price confidently broke the high of the day 104.50. We are considering a long trade in case a retest and holding the price above the level. Trading scenario: #breakout of level 104.50 Entry: 105.13 when exiting upwards from the range above the level 104.50 Stop: 104.38 we hide it behind the level 104.50 with a small reserve Exit: We observe a pure trend movement after entering the position. Close the position at a price of 108.35 before the session closes. Risk Rewards: 1/4 P.S. In order to understand the idea behind the Stock Of The Day analysis, read the following information .
To assess the potential for a breakout, it’s essential to understand the critical levels that will guide price action in the near term: Resistance Level at 90,000 USD: The 90K zone is the primary resistance level, and it has held up several times in recent months. If Bitcoin successfully breaks above this level, the bulls will likely gain significant momentum, potentially leading to a sharp rally. Support Levels: On the downside, Bitcoin has solid support at 80,000 USD and 75,000 USD. If the price fails to break out of the 90K resistance and falls back below these levels, it could signal a temporary pullback. However, the broader trend remains bullish as long as the price stays above these support zones. Technical Indicators Suggesting Bullish Continuation Several technical indicators align to suggest that Bitcoin is well-positioned for a breakout and potential long trade after surpassing the 90K resistance. Relative Strength Index (RSI): The RSI, a momentum indicator that measures the strength of price moves, is currently in the neutral zone but not overbought. This suggests there is still room for upward movement. A breakout above 90,000 USD could trigger the RSI to push into the overbought zone, which would indicate increasing bullish momentum. Moving Averages: Bitcoin’s price is well above its key moving averages, including the 50-day and 200-day moving averages. The 50-day moving average is trending upwards, which is a positive sign for the market's strength. If the price breaks above 90,000 USD, it is likely to find support from these moving averages, helping sustain the upward movement. MACD (Moving Average Convergence Divergence): The MACD has been showing increasing bullish momentum with a widening gap between the MACD line and the signal line. A positive crossover above the 90K resistance would likely see the MACD continue to strengthen, indicating a further buying signal. 4. Chart Patterns Supporting a Bullish Move Looking at the chart, Bitcoin has been forming a symmetrical triangle pattern, which is typically a continuation pattern. This pattern indicates that the price is consolidating between lower highs and higher lows, narrowing toward the apex. When a breakout occurs, especially above a key level like 90,000 USD, the price can move sharply in the direction of the breakout, which in this case would be upward. In addition to the symmetrical triangle, Bitcoin has been respecting an ascending trendline over the past several months. If this trendline continues to hold, any breakout above the 90K zone would suggest a continuation of the uptrend toward higher targets. Target Levels After Breakout If Bitcoin breaks through the 90K resistance level, the next potential targets are as follows: Target 1: 100,000 USD: A psychological level, 100K has long been a target for Bitcoin bulls. If the price breaks above the 90K zone, a quick move to 100,000 USD could be a reasonable target. Many traders will be watching this level closely as it represents a major milestone in Bitcoin’s price history. Target 2: 110,000 USD: If the momentum continues after reaching 100,000 USD, the next logical target for Bitcoin is the 110K area. This level aligns with previous peaks and Fibonacci extension levels, making it a strong resistance point to consider. Target 3: 120,000 USD: In a more bullish scenario, if Bitcoin experiences a strong continuation after breaking above 90K, the 120K level could act as the next major target, driven by the broader market trend and momentum. Risk Management: Stop Loss Considerations While the technical outlook is positive for a long position after a breakout above 90,000 USD, it’s crucial to manage risk. Here are some key points for stop-loss placement: Stop Loss Below the 90K Level: The most logical place to set a stop loss would be slightly below the 90K resistance zone. A break back below 90,000 USD could indicate that the breakout has failed, and a potential pullback is in motion. A stop loss around 87,500 USD or 85,000 USD would provide a cushion in case of a false breakout. Trailing Stop: As the price moves higher, traders may consider using a trailing stop to lock in profits while allowing for further upside potential. This approach would let the trade run as long as the price continues to climb while ensuring profits are protected in case of a reversal. 7. Fundamental Considerations While the technical setup is suggesting bullish potential, it is important to consider the fundamental factors driving Bitcoin’s price. Key factors to keep an eye on include: Institutional Adoption: Increased interest from institutional investors, such as Bitcoin ETFs, corporate treasuries, and adoption by financial institutions, could drive additional demand for Bitcoin, supporting upward price movement. Regulatory Environment: While the regulatory environment for Bitcoin remains uncertain in some regions, any positive regulatory developments (such as approval of ETFs or more clarity on Bitcoin’s status) could further boost market confidence. Macroeconomic Factors: The global economic backdrop, including inflation concerns, interest rates, and currency devaluation, often impacts demand for alternative assets like Bitcoin. If the global economy continues to face uncertainty, Bitcoin could see renewed interest as a store of value. Conclusion: Long Position After 90K Breakout In conclusion, Bitcoin is showing strong potential for a bullish move after a breakout above the 90,000 USD resistance level. The combination of positive technical indicators, chart patterns, and support from key moving averages makes the case for a long position after the breakout. The first major targets would be 100,000 USD and 110,000 USD, with 120,000 USD being a more optimistic scenario. As with any trade, risk management is critical. Traders should consider placing a stop loss just below the 90K zone to protect themselves from a false breakout while remaining positioned for a strong upside move. With institutional adoption growing and the broader bullish sentiment for Bitcoin, this breakout could mark the beginning of a new leg in Bitcoin’s long-term bull market.
1. Price Above the 200-Day Moving Average (MA): The price has reclaimed and is trading above the 200-day MA (red line), which is typically considered a bullish signal in technical analysis. This suggests potential long-term support and a shift in sentiment. 2. Month Support Zone: The blue rectangular area marks a significant support zone that has held for approximately 4 months. This indicates strong buyer interest in this range, providing a foundation for potential upward momentum. 3. Volume Increasing: The recent increase in volume (visible on the volume bars) supports the breakout above the 200-day MA and suggests growing market participation, which strengthens the bullish case.
Down 56% - apparel and sporting giant. Long term employee at the helm. Turn around play? Bill Ackman holding 11% of his portfolio Thomas Gayner long term holder. Historically on the low ends of P/E. >20% ROIC over a decade.