The Daily RSI Levels on most top 50 coins has been very stagnant which makes sense as price has been choppy.
All in all, the higher timeframes are pretty neutral as overall larger structures still look okay but there's been non strong momentum in either direction for most coins.
Best to wait out for $BTC & $ETH to decide the next move and then jump on to the momentum that follows.
$NVDA $QQQ $SPY
NVDA daily chart analysis update ❤️
I want you guys to really pay attention to the concepts here
Because, in 25 years of doing this, it’s more often the type of patterns I see play out. Especially since all the traders at Goldman and Citadel are literally taught to trade against all the popular chart patterns retail people have been taught
So quite often u will get the “Old shake and bake” as larger players work their orders on you and the likely places where retail and others put their stops, sometimes known as liquidity sweeps
To know if this is the start of a downtrend or liquidity sweep is one of the hardest things to decipher in the markets. Here’s my trick…
If it’s a good company and the next two - three quarters have EARNINGS REVISIONS GOING UP, then they are most likely trying to sweep stops to pick up that liquidity as they are trying to accumulate somehow at lower prices to then later mark that inventory up 😘#themoreyouknow
This other link here is the real sequence of updates to the NVDA chart with price targets🎯. I just wanted to bring it back to the shake and bake post cause I think it’s important ❤️
https://t.co/iVi8G780CM
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🎉🎉Happy Monday everyone 🎉🎉