Just looking broadly at the major indexes and representative coins (BTC, HIVE) to find relevant themes.
Philippine Market (PSE)
Bearish trend is still there and the bollinger bands are tightening. Hopefully we get more positive news about the Philippine market. I've seen brokers' fundamental target prices of some stocks to have 20-30% upside, so I assume there would be enough investors willing to buy up if ever PSEI nears 6400.
US Market (S&P 500)
If you have invested in the US market last 2024, you would have gained around 24%. The chart below shows the consistent incline of the S&P500 index way beyond the 200 day moving average. It started to break the ichimoku cloud. Let's see if it would bounce from the 200MA.
If we look at the annual returns of this index, it was only in 2022 wherein there was a correction. I'm amazed that the US market did not go down significantly due to the pandemic lockdown.
The chart below shows that historically, S&P 500 gives out more positive returns. Do you think US can maintain ending a 3rd straight positive year? Maybe it needs to rest a bit, hence may end flat? Only time will tell. Hence, for 2025, timing is important and there is no need to rush when entering the US market.
BTC (as of Jan 11, 2025)
The 100k psychological resistance is still hard to crack for Bitcoin. It maintained to be in a channel for 2 months, but seems to start losing steam. It would need further consolidation before trying rise up again. Let's see if it bumps up once reaching its 200 day Moving Average.
Hive Blockchain (as of Jan 11, 2025)
Hive was a darling last Sunday (+50% gain), but then slowly dwindled towards this weekend . 0.43 is the new support though so we'll see if this gets broken or upheld. This is a great opportunity to rack up more Hive while prices are consolidating, we have yet to see where it will rest.
Summary *(notes to myself):
PSE - bearish nearing support at 6400. Wait and See.
US Market (S&P500) - bullish trend but nearing consolidation. Wait and See.
Crypto - Bitcoin may consolidate soon. Take profits in crypto when possible.
Hive - Recent breakout creating new support at 0.43. Preparing to buy, chance to accumulate and average up.
*This is not financial advise. I use this as my trading journal/notes for ongoing reference for the succeeding week. The above technical analysis (charts) are just used for guidance while studying market behavior and trying my hand on market timing. Please Do Your Own Research (DYOR).
