Bitcoin Weekly Review
Wave Analysis:
Bitcoin continues to crash even as we expect it to climb upwards. During the previous week, bitcoin went below $9000.00, but ended up closing around $12614.83. this is a possible rise in the number of buyers and as long as the price is above $10,000.00 we expect a momentum towards $25,000.00. Further decline towards $1000.00 is highly expected, but a rise towards $25,000.00 is highly anticipated. This crypto currency should be traded alongside others such as the Litecoin, Etherium and Ripple. If you're a bit skeptic to short bitcoin now, you could buy Bitcoin cash, or ripple, these two have a high probability of rising even higher.
Trade Recommendations:
Look for a possible buy trade with your take profit at $25000.00.
SPX500 weekly review:
Wave Analysis:
During the previous week, The standard poor's index went massively to the lower side, but ended up closing just a few pips above its opening price, The previous week's candle is a perfect bullish pin candle and indicates a possible increase in the number of buyers. Therefore, during this week and in the coming few weeks, we expect a possible bullish price moments but should not go beyond $3000.00. The anticipated bullish price movements if the continuation of the impulsive wave (5) but should first pullback towards last week's opening price before an upward momentum is seen. This index should be traded alongside other indices such as NASDAQ, HSI and others.
Trade Recommendation:
Remain long towards $3000.00.
Gold weekly reviews:
Wave Analysis:
After a massive rise during the previous month, Gold markets is currently approaching a key monthly resistance zone 1349.22-1229.42. As long as these zone protects the upper-side, we expect a possible rebound from it to pick a momentum to the lower side. The upward rally seen for the last few months is a mere phase f the corrective wave (b) and should not go beyond 1349.22, where we'll be looking to resell the impulsive wave (c) with the first target at 1094.00 and the next at 717.00. Gold should be traded alongside silver, these two have a strong positive correlation and will move in the same direction today.
Trade Recommendations:
Resell Gold within 1349.22 with an ultimate take profit at 717.00.
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