8d • General discussion
Breakdown for this week's market
📈 Google continues its uptrend. Price is still making higher highs and higher lows, which tells us buyers remain in control. A clean break above recent highs could signal continuation up, while a break below that trendline would signal momentum is slowing.
📈 IBIT is currently moving within a squeeze range. Price is making lower highs and higher lows, which usually when price finally does break in either direction, it could be a big move. Direction hasn’t been confirmed yet, so patience is key. I’m waiting for a clear break before taking any bias.
📈 SPY continues to hold its uptrend and is sitting near a key resistance area. As long as price holds above support, the trend remains healthy. A breakout could lead to a continuation up.
🤗 With the bank holiday on Thursday, lighter volume, and Fed minutes on Tuesday, I’m personally risk-off, no trading for me this week. There’s nothing wrong with sitting back and letting the market show its hand. Sometimes the best trade is no trade.
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Breakdown for this week's market
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