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.
Bitcoin Approaching Bull Flag Resistance
I called a possible swing low on cryptos on 5th July, and that’s been progressing as expected so far, and BTCUSD (Bitcoin) is getting close to bull flag resistance.
Bear flag resistance on Bitcoin is in the 70,600 area, and that is now getting close. If that breaks then the flag target will be a retest of the all time high at 73.8k. If Bitcoin continues to stay close to the daily upper band, then that should be hitting bull flag resistance by Wednesday.
BTCUSD daily chart:
You Go, Girl
Wedgies & Crows
Examining the chart of the S&P 500 futures [/ES], note the bearish rising wedge formed from the October 2023 low (purple). Then note the smaller, short-term wedge emanating from the May 31, 2024 low (also purple, inside the aforementioned larger wedge).
Now Industrials
It seems hard to believe it was so recent, but the highest level for the Dow Industrials in human history was only on Thursday, when it reached the lofty 41,376 (keep in mind, this sucker was 6,469 during the financial crisis). It reversed over 1,000 points within hours, and at this point, the next success for the bears would be a failure of the psychologically-important 40,000 leve.
