BITCOIN (BTC/USD): Bitcoin's technical rally!?

 


Bitcoin is surging as the deadline (2:00PM PDT on Sunday) for potential buyers to submit final bids on Silicon Valley Bank had passed. The bulls need to step in or else there could be more selling when the 200-day EMA crosses over the 50-day EMA.

This note contained herein is not and should not be construed as a recommendation to buy or sell. Click here to view the latest update!

Comments

Post a Comment

Popular posts from this blog

TESLA INC. (NASDAQ:TSLA): UPDATE - Tesla stock's downtrend is still intact / Sell $TSLA/Buy $BYDDF

Image
  Tesla stock is under selling pressure after BYD announced on Tuesday that the company will offer its free automated driver assistance system (ADAS) in China on their 21 models. It looks like the smart money is moving out of $TSLA into BYD (OTCPK:BYDDF). BYD stock has already been up 46.27% YTD while $TSLA is down 16.44%. From a technical viewpoint, Tesla stock's downtrend is still intact with t he price target of $288.39 after a descending triangle chart pattern breakdown on February 5 . Keep an eye on the trendline support ~ $314. A breakdown could mean that Tesla stock's post election surge has completely evaporated. This note contained herein is our opinion and should not be construed as a recommendation to buy or sell. Click here to view the latest update !
Read more

SP500: The S&P 500 broke out after China exempts some U.S. imports from its 125% tariff rate

Image
The S&P 500 surged for the fourth straight day on Friday, br eaking out of the downtrend channel , to close above the correction level (5,502.69) after several media report s of China exempt ing some U.S. imports from its 125% tariff rate. Be aware that the Chinese Foreign Ministry said a day earlier that China has not been engaged in any talks or negotiations with the U.S. on tariffs. T he bottom may be in, pending the release of big tech earnings, plus reports o f U.S. inflation data and U.S. payrolls, next week. Also let's hope that Trump will not come up with an y other idea s on tariffs so the index can stay out of correction level s . This note contained herein is our opinion and should not be construed as a recommendation to buy or sell. Click here to view the latest update!
Read more

SP500: Breakout-retest may be confirmed after PCE data on Friday

Image
  The S&P 500 closed on Friday at the key 5,667 resistance level as the market ignored Trump's talk and was more focused on the Fed's action. We expect the index to break above this level, as well as its 600-day EMA, next week ahead of the release of the February PCE data on Friday. The PCE is closely watched by the Fed and expectations are for a 0.3% increase. Keep an eye on the 2Y treasury yield , now retesting its 600-day EMA . In the past 25 years, all three US recessions occurred after the 2Y treasury yield dropped below its 600-day EMA. This note contained herein is our opinion and should not be construed as a recommendation to buy or sell. Click here to view the latest update!
Read more