If you’re not sure if you feel like trading fiat, crypto, or U.S. equities, don’t worry.
I got yo back with long-term trend and pullback setups on BTC/USD, EUR/AUD, and FB.
Read up and let me know what you think!
Where my HODLer friends at?BTC/USD is poppin’ up a beautiful green candle after showing long wicks just under the 50,000 mark.
We can’t really blame the bulls for pouncing especially since Bitcoin is chillin’ near the daily 100 SMA and a trend line that both bulls and bears have been paying attention to since the start of the year.
Momentum above the trend line that we’ve marked could mean a retest of the mid-channel or even the channel resistance closer to BTC’s record highs. Watch this one closely!
The euro is consolidating inside an ascending triangle after breaking above a descending trend line that had limited its gains since late October 2020.
Sustained selling pressure around 1.5625 would mean that buyers have run out near the triangle’s resistance and the 100 SMA on the daily. A retest of the trend line support is likely if we do see some selling.
If EUR/AUD breaks above the triangle resistance and the 100 SMA, however, then we can watch out for a trip to 1.5900 or even the 200 SMA area.
Somebody call Zuck because Facebook looks like it’s hitting a ceiling at 315.00!As you can see, FB hit a resistance at a 38.2% Fib extension level after breaking above a descending triangle pattern on the weekly time frame.
287.00 marks the first area of interest though the bears can still up their game and drag FB to 276.50 or even the 269.00 areas closer to the broken trend line resistance.
What do you think? Will the bears have enough support to drag FB to key retracement areas? Or are the bulls just taking a breather before pushing FB to new 2021 highs?