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.

Break Up On Crypto

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All the new weekly pivots are on the daily charts posted below.

The last few days I have been watching the resistance at the daily middle band on all three of BTCUSD (Bitcoin), ETHUSD (Ethereum) and SOLUSD (Solana). An H&S pattern had formed and broken down on Solana, and another was still forming on Ethereum. If resistance at those daily middle band held then the setup was likely to break down further, into targets of 119 on Solana and 2,250 on Ethereum. On a sustained break up over those daily middle bands, and the failure of the H&S pattern on Solana on a break back up over the H&S right shoulder high at 152.17.

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Everything’s Eventual

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Finally some signs of a genuine, can be seen with the naked eye, retracement on equity indices today. I was talking in this morning’s premarket video about the possibility of setting up some decent quality hourly RSI 14 sell signals on SPX and NDX for the first time since the all time highs were made and they set up and fixed this morning into the decline that we have been watching today.

I have been muttering that without retracements there are no chart patterns, and this delivers a shot at finally seeing some of those form, and also a shot at setting up decent possible negative divergences on the daily RSI 14 or RSI 5 charts, again for the first time since the all time highs were made.

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Crypto Still In The Inflection Point

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Last week I was writing about the inflection point that Crypto had reached short term, and they are still in that same inflection point, with a decision really needed in the next day or two if Crypto are going down any further, so a couple of days more uncertainty will considerably increase the odds of a break up.

The overhead resistance is, mostly, at the daily middle bands. I say mostly because BTCUSD (Bitcoin) has already broken back above it on Monday and tested the 50dma, though it failed there and closed back below the daily middle band yesterday and so failed to confirm Monday’s break above.

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Crime Scene Bear

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There have been a couple of very decent looking short setups here on SPX and NDX this week, and both times the markets just ripped up through them. The bear flags formed and broke up, the SPX, NDX and INDU broke back up over their daily middle bands and are now testing their monthly pivots, while multiple hourly sell signals that had fixed at these obvious resistance levels failed, including two each on ES and NQ. Altogether it was an ugly week for the bears.

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Either/Or Setup on Crypto Here

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In the short term there are very clear bull and bear scenarios here on Crypto, clearest on SOLUSD (Solana), though on the bigger picture these are still likely bull flags forming.

In terms of that larger picture, resistance is still at the daily middle bands, and on BTCUSD (Bitcoin) that is currently in the 61,246 area. A sustained break above that likely signals that the move to retest the all time high at 73.8k is in progress.

BTCUSD daily chart:

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