Right now there are a few major, market-leading stocks and cryptocurrencies sitting at similar inflection points – NVIDIA, Coinbase, and Ethereum are all at make or break moments within their long term trends!
1 - NVIDIA ($NVDA) NVIDIA is about to touch an upward trendline that it has been following since late 2022. It already touched it once when market’s tanked in early August, and is looking like it’s about to retest. The bullish news: NVIDIA has (so far) had a habit of double-tapping its trendline then launching (see how it’s done it twice already?).
2 - Coinbase ($COIN) Coinbase didn’t quite touch its long term trendline after August’s crash, but recently succeeded on its second attempt. Historically, $COIN has only needed to touch its trendline once in order to launch.
3 - Ethereum ($ETH) Ethereum usually bounces of its trend though this time it may touch the trendline a second time. Holding the trendline would be bullish and crucial to ETH's long term health. A bad sign would be to see any of these assets break their trendlines on the weekly.
But at the moment we're seeing 3 major good signs:
- Retail is slowly waking up
- Inflation is coming down
- Rate cuts are on their way
PS: Not including Bitcoin here as it stands well above it's trendline
Source: https://themilkroad.beehiiv.com/p/make-break-markets-heres?_bhlid=6487909d614f91f44c15325be83fc82f2bad4d54 Show Less
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