Bear Flag On The 1D Chart

26 בספט׳

Clear as day bear flag on the 1D chart. Next point of resistance? The $120 zone based on the previous TD9 mark. Not too many technical indicators required to see this one. I'm hedging my bets on us seeing one more dump before we see a bounce of any sort. That next bounce hopefully being a complete breakout to the upside. We're slowly inching towards the point of confluence which seems to be centered around the next earnings report at the end of October. Good luck everyone.

1 באוק׳

הערה

COIN is currently in the midst of breaking down it's upward channel on the 4H and 1D charts. A solid candle close below $162.5 today along with another solid confirmation candle tomorrow on the 1D chart would mark the beginning of our downward trend with a likely retest of the $150 area along with our previous low of $146. Our favorite oscillators (RSI, MACD, STOCH, REDK) on the 4H and 6H charts currently lend bias to more down incoming.

Reply all to everyone who commented:
The carsongroup noted a couple of days ago that when the S&P 500 has a YTD return over 20% by the end of September, the price action has been down 7 out of the 9 times in October when this has occurred. 2024 currently being one of these years.

The average median loss in October for those years? 2.5%.
The average median Q4 gain for those years? 4.1%

Good luck everyone and trade safe.