IncomeSharks
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Crypto and stock trader focused on fundamental analysis, trend analysis, and swing trading.
$BTC - If you zoom out further than the daily there would be a little hope on the weekly to see something like this hold. Still not actionable enough to call a bottom or start buying but it's interesting to see OBV still holding on and the trendline.
It doesn't mean that just because it's on the trendline it's going to bounce though, often the more times it hits a trendline the weaker it becomes. But this is a support level that if it held and bounced hard I could start seeing some light at the end of the tunnel again.
$SPY - This is the major trendline we want to see holding. We still have time to close it above or make it look a little better but this is where it starts to get more concerning for stocks. We have $NVDA earnings on Wednesday and if that isn't a big win or green day that could just be another catalyst that gets people to derisk and sell.
I think this is a good time to start finding some levels that you would want to buy stock at and wait to see if those hit. I won't be adding anymore unless we see a momentum swing back into the channel or if we can get a $NVDA rally that raises the markets again.