Looks like we got our positive news from last week during that press conference/deadline. They came out with a ceasefire and 2 week timeline to negotiate terms again. This caused a massive rally in the market and sent us flying. Like I said, all we were waiting for was some indication that this war could be over. Its not over until its over, expect a lot of volatility as each side tell you its done or not. Over the weekend the first talks went bad with no deal and each side walking away. This caused some sell off on Sunday but quickly recovered as they started talking again about the negotiation lol... Its gonna be back n fourth. Either way it seems market is believing were at some end as prices are right back to near ATHs. FA events always take over TA. New bull or trap? Hmm.
Metals are recovering as well with bullish structure too. Dbl bottoms all around. With oil prices falling back down the inverse trade would be to take the metals back up. If we can keep the news on the positive side we should see continuation.
Oil looks to be topping out but this can flip on a switch the minute we get any news that the negotiations are going bad. Seems everyday its either good or bad and were just flip flopping back n fourth haha. Regardless, oil has ran up quite a bit now and seasonally our window is getting closer to an end. I've taken profits on all my oil plays yesterday and riding RISK ON assets now instead.
BTC is starting to look very attractive with this WEEKLY dbl bottom getting closer n closer to confirming. We already have the bullish divs on MACD confirmed, oversold conditions met, and within a RLZ! Now thats a complete setup and on a weekly chart. We just need to pray to the bull gods they can gift us with a nice push. We are now techincally back to its 38.2 first stop level on the daily charts. This has been a wall of resistance for us. We keep getting rejected here so this will be a critical point to break through. I think if we can confirm onto the otherside then we got a decent window for this market to rally. Especially if equities and metals start running up here with peace negotiations going through.
ALTs havent really changed much in past months. Were still sideways consolidating for most like BTC n ETH. If BTC n ETH continues to breakout then Im sure well see some rallies within the ALT market too. Hunt those dbl bottoms, bullish divs, oversold conditions and RLZ's. I personally am not playing much ALTs and focusing just on BTC n ETH along with my equities. However I could see there being a mini ALT season here soon. 🥂🙏
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