UK Recession – Has it already begun??? – FOOTSIE100
I don’t usually do this, but I wanted to start tracking the footsie100. I am going to keep it short and sweet for now because I don’t want to get assassinated by the UK government LOL.
This week I thought I would throw a spanner in the box and provide my market analysis of the footsie 100. Let me know your thoughts, leave a comment below and don’t forget to hit that like button
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From where I stand, the recession is in full swing. Look at the first cross of the 30-day over the 90-day on the 31st August and look at the potential cross again at our present day. At our highest price of the year on 23rd April, you can see this is a lower high. With the forming what could be another cross I don’t know how there is going to be an improvement to the current outlook.
Remember indicies are a collection of many stocks. If this index hits lower prices, share values will decrease, and companies will be struggling to raise capital from our sources.
let me know your thoughts on this one
Bitcoin – Its prime time for bitcoin – BUY or SELL?
In my last post on BTC, it was clear that the signals to buy were not conclusive. In the previous 7 days, we have been trading within a stable range between $8100 – $7625. With this long-lasting consolidation, we are still in a bear & bull trap. Now! with the potential to close above the monthly (Yellow line) the bulls are starting to taking the lead. This does not indicate a strong buy as the 30-day (Pink line) is another psychological barrier for buyers. This week is crucial for BTC as we have already seen a 20% pullback from this year high at $9000. At the current price of $8100, BTC pushed back towards $8000, giving HODLers 10% of what they thought they might have lost.
Conclusion: With the price below the 30-day (Pink line), Bitcoin is still in a consolidation phase. We need to see the price move above the 30-day ($8300). If the price of bitcoin drops below $8100, be happy that you can purchase BTC in the value area. Stay patient with bitcoin because once we have broken the $8450 POC, then we will be heading for $9200.
Litecoin – Burnt out & needs more fuel – Buy or Sell?
Let me make this clear. There are no bulls in the Litecoin market because they are not stupid and this is the second time I have made this statement
In my last post, I made it clear it was a great time to buy Litecoin. Little did I know that we would rocket past $130. Now! Before we start talking about going to the moon, we need to realise that there is no fuel left in the tank. The price will need to test the $130 to ensure that buyers are comfortable holding Litecoin’s value above $130. No one should be trying to place shorts against this cryptocurrency and with the price above the Bi-Weekly and Monthly (Blue and Yellow lines) we should all be looking for small pullbacks to buy again.
Conclusion: Wait for the price to drop below $132 before buying more Litecoin. As the halving is only 54 days away (AOW), you can not go wrong with being with Litecoin and these strong technicals. Remember soon than later the price of Litecoin’s halving will be factored in before the event. Stop loss should be positioned below $112.
“Patience is the key to any market” – Nathaniel.
Thank you for your love and support.
Nathaniel – “The value Trader”
Little Big Movement / IONIC Capital