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2024-11-18 15:07:56### Spot Over BTX2024 #### Relative Strength Analysis: The 3 stock indices have had a week of bullish retracement, with the YM showing the least retracement and the NQ the most. #### Classic Technical Analysis: In terms of conventional technical analysis, BTC remains in an Elliott structure fulfilling a minor wave 5 and a major wave 3. We have had a consolidation structure since March 2024 with a breakout to the upside. The context is strongly bullish. https://image.nostr.build/6b83ebee90e8ef8dc7965f159b8fd6b6244eda7b0b18a8e611962bb3129e8980.png https://image.nostr.build/c0a9ba9a4f3edf81e7787c24988fc8a8787225e847e73d99d459b5d6c4ba6a44.png #### COT: The progression of contracts nearing expiration is at a premium. The 12-month COT is in a positive program and in positive hedging. Banks are buying Bitcoin futures contracts and are not in a bearish position, being the counterpart to leveraged short investment funds. https://image.nostr.build/d24f4b3ddeabaafa4885d96b726c65976fc64679bc760414630cd7db5641e36b.png https://image.nostr.build/11a0b1e68b5ee1d6879716d831a8a9517ec653beed1f425086a7736965bfa534.png #### Market Sentiment: Market sentiment in general retail news is bullish following the FED's rate cut and in response to the US elections, although with some moderation after this week. The Williams %R remains in oversold territory and avoids a bearish divergence. #### Intermarket Analysis: The 3 indices have made a bullish reversal. The YM shows the greatest strength marking an FVG while the NQ is the weakest. The 3 bonds ZN, ZF, and ZB have had another week of taking with negative displacement but without a negative close. It is likely that we have a bit of room left for discount. Interest rates behave inversely. The DYX has had a bullish week with a lot of strength and has maintained another bullish week. It is likely that we continue to take some premium closing an FVG W. Peripheral currencies are weak with strong bearish displacement, with the EUR being the weakest. In commodities, GC has had its first significant delay with a bearish close and MSS. BTC maintains a very bullish week with a positive opening and closing gap. CL is in a high resistance framework with a week of negative close. In conclusion, we have a stock market with a bullish retracement that has not yet changed the market structure. Strength of the DYX with weakness in peripheral currencies. Strength of BTC in commodities with GC showing a first significant retracement. CL lost in a seek and destroy framework. #### Market Profile: The market is currently bullish. It needs to move significantly away from the all-time high to continue this movement. #### Market Structure: The value 66798.00 maintains price control. The weekly context is bullish. #### Trading Range: 93483 to 66789. Currently at a premium in the range. #### PD Array Matrix: Premium: - PWH 93483 - OB+W 5910.75 Discount: - PWL 80280 - FVG W CE 79940 - OB+W 69011 Equilibrium: - 80141 #### Key Price Levels: - FVG W CE 79940. I do not expect closes below this structure to remain bullish. https://image.nostr.build/233090043a36d9f20a65db086d16b8ba2adf109c456ae5435c5ed1ee24df2f76.png #### Weekly BIAS: Bullish. #### Weekly Objective: - Retracement to equilibrium in the PWL region at 80280 to take liquidity and then continue to premium in an ideal scenario. A new take of the previous ATH before this scenario invalidates the possibility and leads to targeting 103363 sooner than expected. Await market confirmations. *The market is a great teacher; pay attention and learn its lessons. Every chart, every trend, and every reversal has a story to tell. Listen carefully, and you’ll become a master storyteller.* 🔮