Hello Riders! we finally had our first bullish push. These last 2 weeks I managed to share multiple opportunities in our discord so that they could find lagging coins (we even created a table in Rider Algo#2 that showed the opportunity), which worked perfectly, we managed to catch moves of more than 30% in various currencies! In this issue we are going to focus on where we are standing after the bull run and shed some light on the next big pattern I will be watching in altcoins/stocks.
Where are we now?
SPX is breaking above the large bearish macro resistance line, which is extremely positive for all markets. We still have to wait 1 or 2 weeks with candlesticks 100% above the band to confirm the bullish break, but for now it looks very good.
NASDAQ, slightly behind against $SPX, but closing the gap.
Bitcoin, above the band and like NASDAQ is fighting to overcome the downtrend macro lin (right now they it is above)
Almost all altcoins have closed the gap they had against the divider band.
4 Macro assets chart: breaking resistance
My focus the following weeks
IMPORTANT: all this is valid as long as SPX remains above the trend line, so you have to be careful with leverage and lock profits until we have 2 weeks above the line. If you decide to wait for confirmation is perfectly fine, no need to FOMO, plenty of upside.
Since the currencies have already closed the gap and the markets seem to be turning bullish, let's focus on the following to find opportunities:
- Bull Signal (Trend Shift Strategy, check our online course): use the 1D and 1W timeframe. If using the 1D wait for a retracement. 1W no or minimum leverage. PS: $BTC Bull signal on this timeframe has never failed on the past to predict a leg up (sometimes short lived but profitable anyways)
-Currencies with a long consolidation. (+3 months parallel move, not being majorly affected by FTX crash) Some examples are: rndr , pyr , ilv , bnb, eth, matic, xrp, qnt, uni , aave, glmr Bonus points if the asset is not so far above of the Divider band already.
- Finally we can use our "TR Fib Perspective" tool in Rider Algo #2 to compare which channel bitcoin is in versus a specific altcoin, this will help us calculate the potential for a bullish move. For this setup i would wait for SPX confirmation, no rush, if we do enter bull market, there will be plenty upside.
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