After a tremendous rise last year, Bitcoin is showing signs of shedding off the value it gained last year. So far, bitcoin has successfully broken below the first two moving averages but is still above the lower moving average (53). While this moving average protects the lower side, I choose to remain flat or look for a long position. But if the price breaks below it, then I expect a surge to the lower side with the first take profit at 9800.30 and the next at 5168.00. As it on the daily chart above, if you're not long already, remain flat, and if the price should go below 13823.85, then consider a short position towards 3327.00.
For almost a decade now, Standard Poor's index has been confined within the rising three moving averages (14, 23, 52) and is still showing signs of rising. It is obvious, this index is in a strong up trend and chances or rising are almost 100%. While these three moving averages shield the lower side, I'm looking for long positions. Buy should price go below the first moving averages, then I'll wait for a breakout below the lower moving average (52) to confirm a rally to the lower side, however, as it is, only a long position looks better. On the way upwards the key lines to look for include 2863.00, 2930.0 and 3100.00.
Long this index now towards 2863.00.
DJI30 weekly review
For a decade now, Dow Jones Industrial Average index has been trading with an active up trend and is still very bullish both on the weekly and monthly charts. I expect a surge to the upper side with my take profit still fixed at 28504.00. On the way upwards, the key lines to look for include 26,504.00, 27,002.00 and 28,000.00. If these lines are breached, then I expect further rise t the upper side. On the other side, if the price breaks below the first two immediate moving averages, then I'll wait for break below the last moving average (52) to confirm a rally to the lower side. On the way downwards, the key lines to look for include 23484.00, 20444.00 and 18184.00.
Remain long towards 28000.00.