What Happens From Here Will Be CRUCIAL to BTC

What Happens From Here Will Be CRUCIAL to BTC

BTC observed a Wyckoff's Spring action with ARKK** is trending higher, we expect to see more demand from here.

If this bullish observation continues, we potentially see BTC breaks above current consolidation zone, back into Mark Up Phase.

Thus, upcoming trading days are crucial to BTC .

================================

*Spring denotes weak supply on the market, where price breaks below support but the supply did not sustain the move to mark price lower.

**ARK Innovation ETF ( ARKK ) holds emerging technology company stocks, in line with Bitcoin's underlying technology.

ARKK when plotted on the chart, trades in line and leads BTC .

ARKK is trending upwards, is positive for BTC .

================================

To follow up on post
TradingVIew Link

To forecast market trends and read technical signals effectively:
Effective Technical Analysis and Market Forecasting
(Online Class)

1st July 2021, 7.30pm (SG)

Blog Disclaimers Apply

Wyckoff's Law of Effort

Law of Effort Wyckoff's Law of Effort states that on any single trading day (or week depending on time frame), huge volume (effort) push by participants should see huge price movement, resulting in a wide spread (long body). This is a basic principle of effort and result. However, as per Singtel's case study, we saw huge selling volume on 11 May, yet the price action only shows a narrow spread (small body). This divergence of effort and result in Wyckoff's Law of Effort principles, indicates possible exhaustion in selling or hidden buying. Thus, with a lack of weakness, Singtel should continue trading range bound for the coming days or weeks till further strength or weakness is observed. Swing Traders who trades range can consider positions at 3.70-3.72, with exit target 3.76-3.78.

DBS Group Holdings (D05): Upward Move Expectations

DBS Group Holdings (D05) Upward Move Expectations Technically, price trading above 36.58, could see DBS Group retest previous high of 38.55. Both Relative Strength and momentum indicator FFI are supportive of the move. Stop below 35.42 Disclaimers apply

Keppel DC REIT (AJBU): Expect price to trade towards S$2.00

Keppel DC REIT (AJBU) Expect price to trade towards S$2.00 We have observed a decrease in technical supply at the S$1.80 support area during recent trading sessions. Furthermore, a softer interest rate outlook could be advantageous for the Data Centre operator. Consequently, we anticipate the REIT to move towards our initial target of S$2.00, with the potential to reach S$2.20 if it breaks through resistance. Our stop level is set below S$1.72. Disclaimers Apply

Market Technician

Search This Blog