This analysis is only showing you guys my vision and this should not be considered as financial advice!
With that being said, lets start analysing! Dont forget to give a Like if you agree with my idea.
Allright, as we all know we have seen a huge decrease in price last december. We did see a beautiful bounce forom the 200 (W) SMA, making the way for a big correction and perhaps some of the best months in times. Now we are clearly seeing that the bulls are slowly getting tired and losing steem.
We have entered a short position at 2800, for us this is a long term trade.
Currently the S&P is trying to find support on the 50MA, if we see a weekly close below the 50MA, we can most certainly see a drop towards the 100 SMA. this is also the place for our first targets.
We believe that a huge Bear-market is just around the corner. But if you are not a long term trader, this would be a very nice target. the target should be around the 2600 region.
If we fail to hold support here the next target is going to be the second attempt at breaking the 200MA around the 2400/2450 region.
IF we see a fall through the 200MA this would validate a Bear-Market and send us even further down.
if we see the 200 MA break the next target in our eyes would be around 2145.
Next we should see the other huge support around 1800.
And our worst case scenario would lead us all the way down aiming for the highs in 2008 around 1500-1600, this would mean an almost 50% decline from the current price.
Remember that this is pure speculation and this whole analyses is invalid when the 200W MA holds and gets us to new highs.
We will be adding to the short when:
200W SMA breaks
2015-2016 highs break
If you have liked this post please press the LIKE button it helps us a lot.
If you would like to connect, send a DM to @blockchainuser on instagram!
With that being said, lets start analysing! Dont forget to give a Like if you agree with my idea.
Allright, as we all know we have seen a huge decrease in price last december. We did see a beautiful bounce forom the 200 (W) SMA, making the way for a big correction and perhaps some of the best months in times. Now we are clearly seeing that the bulls are slowly getting tired and losing steem.
We have entered a short position at 2800, for us this is a long term trade.
Currently the S&P is trying to find support on the 50MA, if we see a weekly close below the 50MA, we can most certainly see a drop towards the 100 SMA. this is also the place for our first targets.
We believe that a huge Bear-market is just around the corner. But if you are not a long term trader, this would be a very nice target. the target should be around the 2600 region.
If we fail to hold support here the next target is going to be the second attempt at breaking the 200MA around the 2400/2450 region.
IF we see a fall through the 200MA this would validate a Bear-Market and send us even further down.
if we see the 200 MA break the next target in our eyes would be around 2145.
Next we should see the other huge support around 1800.
And our worst case scenario would lead us all the way down aiming for the highs in 2008 around 1500-1600, this would mean an almost 50% decline from the current price.
Remember that this is pure speculation and this whole analyses is invalid when the 200W MA holds and gets us to new highs.
We will be adding to the short when:
200W SMA breaks
2015-2016 highs break
If you have liked this post please press the LIKE button it helps us a lot.
If you would like to connect, send a DM to @blockchainuser on instagram!
