Bitcoin has officially created new local lows. We’ve been talking about a $9,400 target for quite some time. Today, price nearly hit that target, dropping as low as $9,420.
Looking at the daily chart, we can see that yesterday price decisively broke (daily open and close) the all important 21 day EMA. For those that watch my videos, you know this was your sell signal. Price has now broken below the 50 MA.
Today’s video was created just as price broke below $10,000. You’ll be able to watch my response as it happened in real time. We’ll also discuss where price may be heading next, key areas to watch and so much more. I hope you find it helpful.
I hope this has been helpful. I’d be happy to answer any questions in the comment section below. Until next time, wishing you safe and profitable trading.
Workin
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Retail stocks have been a tough trade in 2019. While the S&P 500 is up nearly 20% year-to-date, the SPDR S&P Retail ETF (NYSEARCA:XRT) is up just 3%, as retail stocks have been weighed by sluggish consumer spending in early 2019 and overarching trade conflicts.
But, Goldman Sachs thinks things are about to get a whole lot better for a whole lot of retail stocks.
One of their picks that I
disagree with is Williams-Sonoma, based on the where the housing market is
headed. Recently, sales of new and existing homes dropped below 6 million for the
first in two years. And despite rates going
down, mortgage applications are flat.
However, Goldman Sachs believes the following:
Tariff concerns have been a huge headache for Williams-Sonoma (NYSE:WSM), but Goldman thinks that the kitchenware and home furnishings retailer is ready to bounce back. Trade tensions are cooling, and with a truce on new tariffs between the two countries, it seems the worst of the trade war damage has already been inflicted. Going forward, the numbers here should get better, especially as buying conditions in the U.S. improve, too. This improvement should drive a nice rebound in WSM stock.
I personally think Williams-Sonoma is setting up for a great short. However, this is the type of catalyst that will get price there sooner than later. Thus, the chart suggest to short price at the weekly demand at
This post is my personal opinion. I’m not a financial advisor, this isn’t financial advise. Do your own research before making investment decisions.
Stocks are hitting record highs right now. All three major indexes surged this week following Fed Chair Jerome Powell’s strong rate cut signals. But even at these elevated levels, it’s still possible to find stocks with significant upside potential for the months ahead. Goldman Sachs analyst Heath Terry has a top-notch reputation when it comes to stock picking.
One stock that Terry believes has more upside is Netflix. After a monster first quarter, Netflix has been stuck in the mud. However, here is what Heath had to say about Netflix.
Streaming giant Netflix is another top stock on Terry’s buy list. With a $460 price target, the analyst is forecasting 23% upside potential for shares.
“We continue to believe Netflix’s investment in content, technology and distribution will continue to drive subscriber growth well above consensus expectations both in the U.S. and internationally,” Terry told investors earlier this year when he added the stock to the firm’s Conviction list.
The market makers are pricing in a $25 move in either direction after earnings later this week. Regardless, the potential levels to pay attention to are the daily supply at $402 and the daily demand at $313.
This post is my personal opinion. I’m not a financial advisor, this isn’t financial advise. Do your own research before making investment decisions.
In my last update we discussed the real possibility of bitcoin breaking down to test $9,950 (0.618 fib), where I said to expect a decent bounce. Price has since done just that, bouncing right below $9,950 and currently trading around $10,500. If you took that scalp trade, congratulations!
Price has broken below the 21 day EMA. It found support right on the 50 day MA.
In today’s video we’ll discuss where price may be going from here, key areas to watch, price targets, and so much more. I’ll also answer some of your questions. I hope you find it helpful.
I hope this has been helpful. I’d be happy to answer any questions in the comment section below. Until next time, wishing you safe and profitable trading.
Workin
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Get paid for viewing ads and Support the Crypto Ecosystem with Brave Browser. Free download here: https://brave.com/wor485
Not only altcoins have been suffering the market correction…People, trying to increase desperately their stakes on BITCOIN is what we have seen these days…Everyone is panic selling their altcoins in order to avoid losing further…but this action does not avoid at all the losses since what we can see today is that the 24h volume of TETHER (USDT) is increasing while BITCOIN volume is decreasing…
During the past few days the volume between Tether and BITCOIN has stayed under equilibrium, in a proportion of 1 to 1, meaning that, for instance, we had exactly the same amount of Volume (24h) as you can see below in the pic I get yesterday:
Now, we have 1 Billion difference, meaning that BITCOIN is being Shortening .
I confess I did sell some BTC a couple of days ago as well, since the forecast seems clear and the count launches a 3-3-5 Correction…
Now, I am going to be focused on two main price levels:
The range between 9400 and 9700 USD
The 8800 USD price level which is the target of the HS pattern.
Observing these two levels can bring me the chance to get between 17 and 25% more bitcoin and so getting more BTC for the same amount of FIAT (Dollar averaging).
Disclaimer: This is just my personal point of view, please, do your own assessment and act consequently. Neither this post nor myself is responsible of any of your profit/losses obtained as a result of this information.
Bitcoin is currently dancing right on top of the $11,000 support. Bears are threatening a break down that would lead to at least $10,650, if not lower.
Zooming in on the 4 hour chart, we can see the Bollinger bands starting to bottleneck. The 8, 21 and 55 day EMA are all converging with the 50 day MA. This suggests a larger move is likely to take place over the next 2 days.
In today’s video we discuss where price may go from here, key areas to watch, targets and so much more. I also answer some of your questions. I hope you find it helpful.
I hope this has been helpful. I’d be happy to answer any questions in the comment section below. Until next time, wishing you safe and profitable trading.
Workin
If you found this post informative, please:
Get paid for viewing ads and Support the Crypto Ecosystem with Brave Browser. Free download here: https://brave.com/wor485
I hope this has been helpful. I’d be happy to answer any questions in the comment section below. Until next time, wishing you safe and profitable trading.
Workin
If you found this post informative, please:
Get paid for viewing ads and Support the Crypto Ecosystem with Brave Browser. Free download here: https://brave.com/wor485
I am keeping observing and following up this chart.
3 lines confining the move right now and I do not find a probable bull pattern but a Flat correction if the volume does not help us.
At the 4-hour chart the most realistic count in my opinion claims for 5 waves down towards 9400 USD support.
(C) must be lower than (A) and this last touched the 9700 USD so I think 9400 may be a good ground to rebound on.
In order to keep a Bullish continuation, BITCOIN should move from that level upper than the higher high of the year, almost around 14000 USD…
Will see what happens in the coming days, if we keep ranging, falling further or finally ending the correction…
The future scenario of the whole market is now on play.
@toofasteddie
Disclaimer: This is just my personal point of view, please, do your own assessment and act consequently. Neither this post nor myself is responsible of any of your profit/losses obtained as a result of this information.
I put WD-40 up there almost with water and air, meaning it’s something we take for granted, but can’t live without it. It has infinite uses, from cleaning cleaning tiles, to softening leather, to free struck legos, to getting rid of rust, is the real utility knife. Just look at the more than 2000 uses of WD-40.
WD-40’s stock had its best day in more than six years Wednesday after it said customers stockpiled the product ahead of a price increase.
The chemical manufacturer reported third quarter-earnings late Tuesday that beat expectations. Sales rose 7% to $114 million for the quarter, which the company said was bolstered by especially strong North American sales as customers stocked up on their grease and cleaning products. The company’s shares were up 8.6% Wednesday.
WD-40 (WDFC) CEO Garry Ridge said in a release that its North American customers were “buying high volumes of product in advance of our planned price increases in the region.” WD-40 announced it was hiking prices a year ago. It hiked prices predominantly because of rising commodity prices, although steel and aluminum tariffs had raised its canning costs somewhat as well.
Ridge said on a call with analysts that the company doesn’t expect any additional price increases this year. He said that it has felt “some residual impact of tariffs,” but the price increase for its can are “somewhat coincident with the timing of tariffs.”
Brexit is an abbreviation for “British exit,” referring to the U.K.’s decision in a June 23, 2016 referendum to leave the European Union (EU). The process of Britain staying or not staying in the EU has been entertaining to say the least. Former Prime Minister David Cameron, who campaigned for Britain to remain in the EU, announced his resignation the following day. Then Theresa May, who replaced Cameron, stepped down in June after facing severe pressure to resign.
It’s been pretty quiet since June, maybe because the new Brexit deadline is late October 31, 2019. However, Richard Branson, the billionaire had something to say about Brexit today.
Branson told the BBC that a hard Brexit would be “devastating” for Virgin and would lead the group to invest outside the U.K. Virgin Atlantic would lose $125 million (£100 million) of air freight contracts from Europe, after having already seen its costs rise by $125 million (£100 million) after the pound slumped in value following the 2016 referendum.
“The pound was at $1.53 when the referendum took place. The pound today it is at $1.22, $1.23, and the pound will collapse to parity with the dollar if there is a hard Brexit,” said Branson.
Branson’s comments came as the British currency plunged to a two-year low of $1.24 against the dollar earlier this week. The pound has fallen in recent months over concerns about the health of the U.K. economy and the prospect that Boris Johnson, who has argued for no-deal Brexit, will become the U.K.’s next prime minister.
