Slope of Hope Blog Posts

Slope initially began as a blog, so this is where most of the website’s content resides. Here we have tens of thousands of posts dating back over a decade. These are listed in reverse chronological order. Click on any category icon below to see posts tagged with that particular subject, or click on a word in the category cloud on the right side of the screen for more specific choices.

Bullish Consolidations on Crypto

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In my last post on Thursday I was looking at the possibility that the bullish consolidation on Solana (SOLUSD) particularly might see another lower low as part of a bull flag forming, and the jury was still out on that this morning.

On the daily chart Solana has still been holding the daily middle band, currently at 239.41, as resistance. The path to a lower low is still open, and there are some attractive targets.

On the daily chart the obvious support is at the monthly pivot at 219.10, and the 50dma, currently at 210.07. 210 would be a close backtest of the broken March 2020 high at 209.86 of course.

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Bullish Crypto Options

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I was saying on my last post that there were daily sell signals fixed on BTCUSD (Bitcoin) and SOLUSD (Solana), that a bullish consolidation period looked very possible and we’ve been seeing that. So how’s that going?

On the Bitcoin daily chart below the daily RSI 5 sell signal has almost reached the possible near miss target at 31 to 37 on the RSI 5 and that might be enough. The RSI 14 sell signal has fixed but is a longer term signal and we may well see significantly higher highs before that makes target. It is an early warning to watch out for a longer multi-week or month consolidation that may be coming in the first months of next year.

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Gathering Storms

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In the last couple of weeks of October I was writing about the likelihood of seeing a bullish November, and we saw that, but it wasn’t really what I had in mind. The bullish part came when Trump won the presidential election and, on SPX at least, the rest of the month was spent retesting that high, with both SPX and ES both now at new all time highs from there.

I was looking for more, and we might still get more, but more than half of the bullish window into Xmas is now behind us, and the news coming from the coming new administration is already starting to disturb the markets.

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Minority Report

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On Friday morning I was looking at an interesting bull setup across the Crypto instruments that I look at every day. You can see that here if you’re interested in my Crypto channel on YouYube.

On Bitcoin (BTCUSD) a small but bullish leaning falling wedge was starting to break up, and I was saying that I was expecting that to deliver a retest of the all time high in due course. That has delivered now.

BTCUSD 15min chart:

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