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Pitchforks

SPY Monthly Megaphones - Longer term SP500 buying planTLDR: Flat on stocks, waiting for very deep discounts several years in the future Details: Expecting it to make another megaphone shape similar to the one it made from 2017 to 2020. The idea is it will hunt for liquidity under the 350 swing. This means to watch for a buying zone in the region of 372 to 290 from around July 2025 to May 2026. This zone also lines up with the lines of several long term pitchforks and gives exit targets along those forks' medians. Reasons to expect so much bearishness include: Nancy Pelosi, Buffet selling at the top Intel CEO praying on twitter Unrest in UK Tensions/war in Gaza, Ukraine, Iran Kramer saying it's not the end of the world If those situations resolve then it may not need to hunt deeply below 350 and in fact the 400 price zone may be a better re-entry spot. But if the overall macro news stories continue to be saturated with uncertainty then it's much better to wait for deeply discounted prices rather than catch a falling knife.
AMEX:SPY
by mljones
3
🗺️Bitcoin Roadmap🗺️🧐Today, I want to analyze Bitcoin for you in a weekly time frame so that maybe it can give us a good view of the continuation of Bitcoin's movement . 🏃‍♂️If you look at the chart, Bitcoin is moving in the Ascending Channel in the weekly time frame, the ascending channel I have drawn seems to be a valid channel, so that the middle line of the ascending channel has played the role of resistance and support well. 🏃‍♂️Bitcoin is moving near the ascending channel's midline , the pitchfork line , the Resistance lines , and the 🟡 Potential Reversal Zone(PRZ)($82,800-$73,200) 🟡➡️ So it shows that Bitcoin is facing an Important Resistance(Supply zone). ⚖️If we look at the chart, it looks like we can expect similar moves before the 2020 Halving . Move 1 is similar to move 3 , and moves 2 and 4 are similar, so if we want to expect similar moves, Bitcoin should start correcting . And until the 38.2% and 50% Fibonacci corrections (we should NOT consider the decrease of Bitcoin in Covid ). I have drawn the possible move for you in the chart below.👇 🌊According to the theory of Elliott waves , Bitcoin can follow two scenarios, and it depends on future events and news . The scenario is as follows: 🚀 Bullish scenario ( more likely due to Halving, ETF, etc ): Bitcoin has completed the main wave 3 at $73,777, and we should wait for the start of the main wave 4 and then increase towards $87,000-$99,000-$112,000 . 🚨 Bearish Scenario : Bitcoin has finished the main wave C at $73,777 (or a little higher), and in case of breaking the 🟢 Heavy Support zone($50,000-$38,500) 🟢, we should wait for Bitcoin to fall (the fall can continue up to 😱 $18,000 😱). Of course, according to the current market conditions, this scenario is somewhat unlikely, but it is still possible, if Bitcoin goes above $77,000 , this scenario will be removed in general . 💡If we look at the RSI indicator in the weekly time frame , we can see that it seems that the RSI has succeeded in forming a Rising Wedge pattern , which can correct the upcoming correction of Bitcoin. 💡In the 1-hour time frame , Bitcoin has formed an Ascending Broadening Wedge pattern , which can be a sign to start the correction of Bitcoin . 🔔According to the above explanation , we can conclude that Bitcoin correction can start soon ; Bitcoin can have a correction to 🟢 Heavy Support zone($50,000-$38,500) 🟢 and then we have to wait for the next movement of Bitcoin( Re-pumping is more likely ). ❗️⚠️Note⚠️❗️: An important point you should always remember is capital management and lack of greed. Bitcoin Analyze ( BTCUSDT ), Weekly time frame ⏰. Do not forget to put Stop loss for your positions (For every position you want to open). Please follow your strategy; this is just my Idea, and I will gladly see your ideas in this post. Please do not forget the ✅' like '✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
Short
by pejman_zwin
74
US500/NAS100 morning updateComparing bullish counts for US500 and NAS100, as they seem to be at similar points in their primary wave structures. I have both charts in wave 5 of (3) of ((5)). As of right now, I'm relying more on US30 and US2000, in terms of further rallies before wave 5 is near completion. NAS100 came very close (but did not officially tag) to its pitchfork median line, which may explain the profit taking and ~7% price drop since ATH. I do think that US500 will eventually tag its pitchfork median line as well, more likely in 2025.
PEPPERSTONE:US500
by discobiscuit