What a past 7 days we just had.
1. NASDAQ and Crypto bouncing exactly from macro supports (see last week issue) and we got plenty of "probable bounce" signals on our indicator that anticipated the bounce perfectly (both on NASDAQ, Crypto and major alts)
2. We just reached 10K followers on Twitter!! Stay tuned for a special celebration discount.
3. Shared quite a few succesfull longs setup on our discord members section, if you are not there, what are you waiting, come join us! :) discord.gg/kWrqfGpmSM
As I said before, we were in an excellent risk-benefit zone to make longs, the higher the price, the higher the risk of a resistance rejection, so you should proceed carefully if you did not buy before.
Having said that, I still see room for this rebound, for that we are going to use the ASDAQ chart both in the daily and weekly timeframes, (cryptos are waiting for their movements) identifying where the key resistances are, once we arrive At those levels, we will have to ensure our profits in case there is a rejection and react according to what happens.
I also remind you that if you were late to a trade, our RSI limits tool (sub indicator within Trend Rider Algo #2) works excellently to be able to enter the trade with controlled risk and exit before a big correction starts. Find tutorial here: https://www.trend-riders.com/post/new-indicators-tutorial
NASDAQ 1W (left) and 1D (right) chart - Long term macro resistance: 12300, keep in mind that the level of this resistance decreases as the weeks progress, when we get there it would be a good idea to take profits on CRYPTO and see what happens next.
- Short term resistance: 11700-11900, Rider Band lower limit and daily trend line. start moving your stop loss up when we reach these levels to lock profits.
Note: if you are in high leverage trades, you should pay more attention to the 4 and 1 hour timeframes, looking for resistance and take profit signals.
BITCOIN 1W chart
- Bounce signal confirmed on the weekly timeframe and a bullish orange circle pending confirmation. This combination is extremely powerful, specially on the a long timeframe like this one, so i am very excited and looking forward for a major bounce. Gotta wait for candle close for orange circle confirmation.