major confluences at this level include: - top of daily uptrend channel from september - several large clusters of institutional prints from late november which will need to be tested - 1hr 325 SMA - 1hr liquidity zone will be grabbing shares only at 33% allocation. if price fails this region will add another 33% at low 350s which is the middle of that channel...
- weekly is forming right shoulder in distribution cycle right at 1600 psych + positive gamma level - consistent with /ES local top of 4060 (or 4200 on impulse wave) - invalidated if break above 1630s - high risk counter trend trade against current market conditions & positive gamma ratios - BTO Feb 1400p @ 10.85 - IV on puts is cheap + upcoming ER should...
Short thesis: - Rounded topping pattern within higher timeframe downtrend - Bearish golden cross formation on EMAs - Daily technical MAs flashing weighted sell signals - Retest of daily lower lows and 0 fib level Short Setup: - 1st entry on retest of shorter timeframe trend break/retest & liquidity zone confluence which could act as supply for short orders to...
Short thesis: - Daily inverted cup & handle pattern - Bearish golden cross formation on EMAs - Daily technicals flashing weighted sell signals (oscillators, pivots, moving averages) - Validated retest of daily higher lows Price Target: $41-42K range into next week
Short thesis: - Descending channel - Fib test of .786 - Daily technicals flashing weighted sell signals (oscillators, pivots , moving averages) - Validated retest of daily higher lows at $132.80 Price Target: $130 by next week
Short thesis: - 4hr inverted cup & handle pattern - Bearish DMI - Bearish PSAR - Bearish Golden Cross on EMAs - Below VWAP (currently 257.19) - correlation w/ BTC reshort into 45K and potentially 41K liquidity zones - 4hr technicals flashing weighted sell signals (oscillators, pivots, moving averages) Price Target: 230 with potential all time low test
short into $45-46K liquidity zone: - below EMAs - retest lower lows on shorter timeframe - bull trap on today's bounce
Keep it simple and zoom out to identify where weekly/monthly liquidity zones exist and where buyers step in to push prices higher. So far things are looking good from a higher timeframe perspective. Obviously we'll need to close above this weekly neckline in order to validate a measured move higher into the $70K region. If price can take out bears SL slightly...
Continued accumulation and choppy range into these demand zones before next leg up. As always limit the short term noise and keep focused on the bigger picture (3-5yr outlook). While technical analysis is important we also focus on in depth fundamental analysis. Within the next 1-2 weeks we will be finalizing the most extensive Doge long term thesis ever...
Strongly believe we're in an accumulation phase prior to a major catalyst in the Fall. Could be Starlink related (hint: fast connectivity = faster processing speeds), ETH bridge (hint: why is Vitalik on DOGE board now), or TSLA accepting DOGE as a form of payment (for slight discount). Either way I think we chop around for a bit and eventually test ATH in early 2022: