To investors,
The weekly charts have finally given signs that we are approaching an interim bottom and looking to have some signs of relief. Since the last publication back in early May of this past year it was said that rallies are for shorting and that was when Bitcoin was sitting around 38k, Ethereum just under 2800 and S&P 500 around 4200. There’s an old saying of sell in May and walk away, clearly when using hindsight that is proven to be profitable but here we are as October ends and it appears as though we could be on the verge on higher prices.
The Dow is leading the rally as the week of Monday October 17th the Dow was giving bullish signals at 30,500 area. Fast forward to today the Dow is at 32,861 and looking to head higher in the coming weeks illustrated below.
Dow30
S&P 500
Siting right above the 200 EMA momentum and money flow both point upward looks like we have more upward movement and a minimum 4,200 price target.
Bitcoin
Showing signs of bottoming on the weekly and the trend getting less negative (for now) a test of $25,000 is viable.
Ethereum
Looks like Ethereum wants to follow Bitcoin in the upward price movement and potentially test $2,000.