Market Analysis: S&P 500, Dow Jones, and Nasdaq Bullish Trends Signal Potential Gains

Recent market analysis underscores potential for further upside movement, tempered by indicators cautioning about potential downside risks. This analysis examines the S&P 500, Dow Jones Industrial Average, and Nasdaq Composite, all of which have recently reached new all-time highs.

S&P 500 (SPX) Continues Its Upward Movement Despite Bearish Divergence in the Daily Chart

The SPX is in an upward trend, and both the histogram of the MACD and the RSI have shown a bearish divergence on the daily chart. Despite this, the price continued its uptrend, soaring by roughly 3.3%. Today, however, the SPX seems to initiate a correction movement, with the histogram of the MACD beginning to tick bearishly lower.

Should the SPX initiate a correction, it finds its next significant support at the 0.382 Fibonacci level at 5,293, and at the 50-day EMA at 5,268. If these support levels fail, the SPX’s next major Fibonacci support is at the golden ratio at 5,150.

S&P500

Dow Jones Industrial Average (DJI) Could Potentially Face Rejection At The Golden Ratio Level

The DJI (US30) bounced off the golden ratio support at 38,300 and broke the 50-day EMA resistance at 38,840, surging by roughly 2.6%. The DJI could now surge to the golden ratio level at 39,350, where it could potentially face rejection.

If it breaks the resistance, it could target its previous high at roughly 40,000. Moreover, the EMAs confirm the trend in the short- to medium term. The histogram of the MACD shows a bullish trend, and the MACD lines are crossed bullishly, while the RSI moves in neutral regions.

DJI

Nasdaq Composite in a Correction Trajectory

The Nasdaq Composite (IXIC) continues its upward trend and surged by 5.15%, despite the RSI previously forming a bearish divergence. Now, however, IXIC could potentially undergo a correction move, retracing down to the next significant support at 17,033. Moreover, it finds major Fibonacci supports at 10,094 and 16,200.

The indicators are giving rather bearish signs, as the RSI is in overbought regions and the histogram ticks bearishly lower since yesterday. The MACD lines are still crossed bullishly, and the EMAs confirm the trend as bullish in the short- to medium term.

Nasdaq

This analysis projects a generally bullish long-term outlook for these indices, supported by robust technical indicators across various time frames, suggesting a propensity to test or surpass previous highs. However, despite reaching new records, the possibility of a correction in the short term should not be overlooked.

GameStop Stock (GME): Primed for a Third Surge?

Based on the recent technical analysis, the GameStop stock (GME) could be ready for a third bull-run, potentially reaching a local high.

GameStop stock (GME) Had A Second Run

In our last analysis of GameStop (GME), we indicated a potential for a second run. Following a massive 551% surge during its initial run, GameStop experienced a subsequent 171% increase after finding support at the 50-day EMA at $22.5.

During this second surge, GameStop formed a lower high, indicating that the corrective phase remains active. This pattern suggests the potential for another lower high in the anticipated third run.

Technical Indicators and Trends

  • MACD (Moving Average Convergence Divergence): The MACD lines have crossed bullishly, though the MACD histogram still indicates a bearish trend.
  • RSI (Relative Strength Index): The RSI is in neutral territory, providing no clear bullish or bearish signals.
  • EMA (Exponential Moving Average): The golden crossover of the EMAs confirms a bullish trend in the short to medium term.
GameStop (GME)

GameStop (GME): Encounter with Critical Resistance Levels

After rebounding from the 50-day EMA, GameStop surged to the golden ratio resistance at $48 but faced rejection at this level, subsequently retracing to approximately $23, where it found substantial support.

Currently, GameStop is supported between $23 and $23.8. Should this support fail, the stock could retrace further to the support zone between $17.7 and $20.1. A successful bounce from this lower support could initiate the third run.

If GameStop breaches the 50-4H EMA resistance at $25.26, it may trigger the third run, potentially surging to the next golden ratio resistance at $39.

Technical Indicators and Trends

  • EMA: The golden crossover of the EMAs in the 4-hour chart indicates a short-term bullish trend.
  • MACD: The MACD histogram is ticking bullishly higher, although the MACD lines remain crossed bearishly.
  • RSI: The RSI provides no definitive bullish or bearish signals.

 

GameStop (GME)

The Histogram Of The MACD Starts To Tick Bearishly Lower

On the weekly chart, GameStop does not emit any bullish signals. Instead, the MACD histogram is beginning to show bearish indications. Nevertheless, the stock maintains major support between $17.7 and $20.1, presenting a potential for a third bull run, though likely less robust than the previous two.

GameStop (GME)

This technical analysis highlights a generally bullish outlook for GameStop (GME) in the short term, with the potential for a 50% surge. However, the mid-term outlook suggests that the correction phase continues, with the possibility of reaching lower lows in the coming weeks.

Summary

  • Short-term Outlook: Bullish, potential surge of 50%
  • Mid-term Outlook: Continued correction, potential for lower lows
  • Key Levels to Watch:
    • Support: $23 – $23.8, $17.7 – $20.1
    • Resistance: $25.26, $39

 

S&P 500, DJIA, and NASDAQ: Bullish Momentum with Cautious Indicators

Recent market analysis underscores potential for further upside movement, tempered by indicators cautioning about potential downside risks. This analysis examines the S&P 500, Dow Jones Industrial Average, and Nasdaq Composite, all of which have recently reached new all-time highs.

S&P 500 (SPX) Continues Its Upward Movement But Forms a Bearish Divergence in the Daily Chart

The SPX is in an upward trend, but the histogram of the MACD and the RSI both show a bearish divergence on the daily chart. Despite this, the EMAs still show a golden crossover, confirming a bullish trend in the short to medium term. Additionally, the MACD lines remain crossed bullishly.

Should the SPX initiate a correction, it finds its next significant support at the 0.382 Fibonacci level at 5,212, where the 50-day EMA also acts as support. If these support levels fail, the SPX’s next major Fibonacci support is at the golden ratio at 5,100.

In both the daily and 4-hour charts, the golden crossover of the EMAs affirms a bullish trend, while the RSI and histogram of the MACD show a bearish divergence. The MACD lines remain crossed bullishly, though the histogram of the MACD is beginning to tick bearishly lower. While the SPX could potentially surge higher, a correction move seems imminent.
S&P500

Dow Jones Industrial Average (DJI) Moves Between Fib Levels

The DJI (US30) faced rejection at the 0.382 Fibonacci resistance at 39,004 and retraced to the 0.382 Fibonacci support at 38,693, where it found short-term support. If this support holds, the DJI could attempt another break of the 39,004 resistance. A successful break could see the DJI surge to the golden ratio at 39,600. Breaking the golden ratio at 39,600 would indicate the completion of the correction, potentially leading to a new all-time high at 40,077.

The MACD histogram shows a bullish trend, with the MACD lines potentially crossing bullishly. Meanwhile, the RSI is neutral, and the golden crossover of the EMAs confirms a bullish trend in the short to medium term.

DJI

In the 4-hour chart, the emergence of a death cross denotes a bearish trend, despite the bullish uptick in the MACD histogram. The MACD lines remain crossed bearishly, and the RSI is neutral. Should the DJI break the 0.382 Fibonacci support at 38,694 bearishly, it could drop to the golden ratio support at 38,400.

DJI

Nasdaq Composite in a Correction Trajectory

The Nasdaq Composite (IXIC) continues its upward trend, but the RSI and MACD histogram show a bearish divergence, indicating a potential correction. Should the Nasdaq undergo a correction, it finds its next significant support between 16,450 and 16,540, where the 0.382 Fibonacci level and 50-day EMA provide additional support.

Despite the bearish divergence, the MACD lines remain crossed bullishly, and the MACD histogram is ticking higher.

Nasdaq

NasdaqIn the 4-hour chart, the MACD histogram is ticking bearishly lower, and the RSI shows a bearish divergence. However, the MACD lines are still crossed bullishly, and the golden crossover of the EMAs confirms a bullish trend in the short term.

Nasdaq

This analysis projects a generally bullish long-term outlook for these indices, supported by robust technical indicators across various time frames, suggesting a propensity to test or surpass previous highs. However, despite reaching new records, the possibility of a correction in the short term should not be overlooked.

S&P 500, DJIA, and NASDAQ Enter Correction Phase: Key Insights and Forecasts

The recent market analysis underscores the potential for further downside movement. Last week, major indices including the S&P 500, Dow Jones Industrial Average, and Nasdaq Composite achieved new all-time highs, only to face corrections this week.

S&P 500 (SPX) Encounters 2.24% Correction with Additional Downward Risks

Following its peak at approximately 5,342 last week, the S&P 500 is now trending towards its next significant Fibonacci support at 5,192. The 50-day EMA also provides additional support at 5,174. Should this level not sustain, the SPX could find its next major Fibonacci support at 5,099, indicating potential further declines of up to 3%. Concurrently, the MACD lines have crossed bearishly and the histogram trends lower, while the RSI remains non-committal.

S&P500

In both daily and 4-hour charts, while the golden crossover of the EMAs affirms a bullish trend, the SPX is currently undergoing a short-term correction phase, encountering immediate support at 5,230 marked by the 50-4H EMA. Despite this, bearish signs persist with the MACD lines crossed negatively and the histogram decreasing, as the RSI stays neutral. The index might rebound from the Fibonacci support, initiating a potential upward trajectory.

 

Dow Jones Industrial Average (DJI) Faces Significant Technical Challenges

The DJI (US30) initially pulled back from 40,095 to the 0.382 Fibonacci support at 39,004, where it momentarily rebounded. However, it soon resumed its downward course, breaching the crucial golden ratio support at 38,236. This move suggests a likely further decline of approximately 2.6% to the next significant Fibonacci support at 37,124, where the 200-day EMA offers additional support. Although the daily chart exhibits a golden crossover, bearish indicators prevail as the MACD lines and histogram continue their descent, with the RSI offering ambiguous direction.

DJI

In the 4-hour framework, the emergence of a death cross denotes a bearish trend, albeit the histogram of the MACD shows a bullish uptick and an impending bullish crossover. This signals a potential for an upward movement, which will face substantial resistance at the 0.382 Fibonacci level at 38,806 and the golden ratio at 39,300.

DJI

Nasdaq Composite in a Correction Trajectory

The Nasdaq Composite (IXIC) is currently down by approximately 2%, with further corrections in sight. It approaches a significant support zone between 16,450 and 16,539, with additional Fibonacci supports at 16,340 and 15,850. The 50-day EMA also lends support at 16,287. Bearish signals in the daily chart indicate potential continuation of the correction phase, with the MACD histogram trending lower and an anticipated bearish crossover, while the RSI remains neutral. The Nasdaq could face further declines of around 2.3% reaching the 0.382 Fibonacci support at 16,340.

Nasdaq

In the 4-hour chart, despite bearish crossings in the MACD lines and a descending histogram, the bullish confirmation by the golden crossover in the EMAs provides a conflicting signal, suggesting a possible bullish respite amidst the ongoing correction.

Nasdaq

This analysis continues to project a generally bullish long-term outlook for these indices, supported by robust technical indicators across various time frames, suggesting a propensity to test or surpass previous highs. Despite achieving new records, the possibility of a continuing correction in the short term should not be overlooked.

S&P500, DJI and Nasdaq New ATH Followed By Steep Correction

The recent market analysis has revealed significant movements in major indices, with the S&P 500, Dow Jones Industrial Average, and Nasdaq Composite all achieving new all-time highs.

S&P500 (SPX) Reaches New ATH At 5,342 And Correctly Steeply

The S&P 500 reached a new peak at approximately 5,342, only to experience a swift correction within the same week, dropping by about 1.6%. Critical support for the S&P 500 now lies at the previous high of 5,265, with further Fibonacci supports at approximately 5,192 and 5,099 should this level fail. Additionally, the MACD histogram is trending bearishly lower, suggesting a potential bearish crossover, while the RSI remains non-committal.

S&P500

In the weekly chart, the histogram of the MACD has been ticking bullishly higher since last week. Nonetheless, the MACD lines remain bearishly crossed, and the RSI is oscillating within neutral territories. However, the RSI shows a bearish divergence, hinting at a correction wave.

S&P500

 

DJI Reached A New ATH At 40,095

For the Dow Jones Industrial Average, having surged to around 40,095, it subsequently corrected by 2.7% within a week, touching a substantial Fibonacci support at 39,001. Should it hold, a bullish rebound might be anticipated; otherwise, further support is visible at 38,300. Current indicators on the weekly charts display bearish tendencies, with bearishly crossed MACD lines and a bearish histogram tick, compounded by a significant bearish divergence in the RSI.

DJI

Nonetheless, the DJI now has the opportunity to rebound from the 0.382 Fibonacci support at 39,001. Additionally, the 50-day EMA provides further support at 38,916. Moreover, the MACD lines remain bearishly crossed, and the histogram of the MACD has been ticking lower for several consecutive days. The RSI, however, does not provide clear signals.

DJI

Nasdaq Established A New ATH And Corrects Sharply

The Nasdaq Composite also notched a new high at approximately 16,996 before undergoing a significant correction of about 1.9%. Here, the MACD indicators are also hinting at bearish trends, with potential support levels at roughly 16,450 and 16,539, and if breached, further support at 16,318 and 15,850.

Nasdaq

In contrast, the weekly chart for the Nasdaq shows a bullish trend in the MACD histogram, which might soon lead to a bullish crossover despite the RSI indicating a bearish divergence.

If the Nasdaq continues its correction, it will find its next significant support between approximately 16,450 and 16,539. Should this support level fail, the subsequent significant Fibonacci supports are at approximately 16,318 and 15,850. Additionally, the MACD histogram has been trending increasingly bullish for three consecutive weeks. Consequently, the MACD lines might soon exhibit a bullish crossover in the weekly chart. However, the RSI indicates a bearish divergence and is nearing oversold territories.

Nasdaq

The previous analysis highlighted a generally bullish outlook for these indices, bolstered by key technical indicators across various time frames, indicating a tendency to test or surpass previous all-time highs. Although new all-time highs have been reached, there remains a possibility for an extension of the correction wave in the short term.

GameStop Stock (GME): Primed for a Second Surge?

Based on the recent technical analysis, the GameStop stock (GME) poised for a second bull-run, potentially reaching a new all-time high.

GameStop stock (GME) Surged By Over 505 % This Month

Following a prolonged correction lasting over three years, GameStop stock (GME) rebounded from a support zone between $11.73 and $15.94, surging nearly 506%. This impressive rally broke through the 50-month EMA resistance at $21.35, propelling the stock towards the major Fibonacci resistance at $52.33. At this level, GME may face rejection and enter a corrective phase. However, should it surpass this barrier, the next significant resistance lies at the golden ratio of $82. Breaking the $82 level would suggest a new bull run, potentially pushing GME past its previous all-time high of $120.

Moreover, the MACD lines have crossed bullishly, with the MACD histogram indicating a bullish trend. Meanwhile, the RSI is approaching overbought territory without any bearish signals.

GameStop (GME)

Weekly Indicators Show Bullish Momentum

In the weekly chart, the MACD histogram has started ticking upwards, with the MACD lines crossing bullishly. Although the RSI has entered overbought regions, it has yet to show signs of bearish divergence. Contrarily, the EMAs still display a death cross, indicating a bearish trend in the mid-term.

GameStop (GME)

Golden Crossover Imminent on the Daily Chart

On the daily chart, the RSI is firmly in overbought territory without bearish divergence. Additionally, the MACD histogram is moving higher bullishly, and the MACD lines are crossed in a bullish manner. Furthermore, the EMAs are on the verge of forming a golden crossover, signaling a bullish trend in the short to medium term. Currently, GME has retraced to the golden ratio support at $30, where it bounced and surged by approximately 36%.

GameStop (GME)

GME Bounces Off Golden Ratio Support by 36%

In the 4-hour chart, the EMAs have already formed a golden crossover, confirming a short-term bullish trend. The MACD lines are crossed bullishly, although the MACD histogram is starting to tick lower. The RSI provides no clear signals but remains near overbought regions. Presently, GME appears poised for another upward wave towards the 0.382 Fibonacci resistance at $52.33.

GameStop (GME)

 

This technical analysis underscores a generally bullish outlook for GameStop (GME) across multiple time frames, suggesting the potential to test or exceed its previous all-time high. Nevertheless, traders should remain vigilant for any reversal signals at key resistance levels.

S&P 500 (SPX), Nasdaq Composite (IXIC), and DJIA (US30) Set For A New ATH?

Based on the recent technical analysis, the S&P 500 (SPX), DJIA (US30), and Nasdaq Composite Index (IXIC) are poised for potential new all-time highs, contingent on the closure of this month’s trading candle.

S&P500 (SPX) Recovered By More than 5 %

After a brief correction, the SPX rebounded from a local low of 4,946, surging nearly 5.3% and breaking through the golden ratio resistance at 5,155. This bullish breakout positions the SPX to potentially test its all-time high at 5,265. The MACD lines have crossed bullishly and the histogram indicates a continuing bullish trend, though the RSI remains neutral.

S&P500

Indicators are bullish as evidenced by a golden crossover in the EMAs, confirming a short-term bullish trend. The MACD lines remain bullish, however, the RSI is approaching overbought territory, and the MACD histogram is trending lower.

S&P500

The MACD histogram has started to tick upwards bullishly, although the MACD lines are still crossed bearishly. The RSI is neutral but approaching overbought areas.

S&P500

Should the SPX close above 5,258, a bullish engulfing candle could form, setting the stage for a move towards a new all-time high and potentially reaching the 1.618 Fibonacci projection level.

S&P500

DJI (US30) Is Also Approaching Its ATH

The DJIA has surged nearly 6%, decisively breaking the golden ratio resistance at 39,925. The daily indicators are bullish with a golden crossover in the EMAs and a bullish MACD. The RSI gives no clear directional signals.

DJI

In the 4H-chart, the EMAs have formed a bullish crossover, with the MACD also showing clear bullish signs. The RSI is in overbought territory, yet without bearish divergence, suggesting continued bullish momentum.

DJI

In the weekly chart the MACD histogram is ticking bullishly higher for the last two weeks, though the MACD lines remain bearishly crossed. The RSI is neutral.

DJI

In the monthly chart, the histogram of the MACD has been bullish since last month, and the MACD lines have crossed bullishly. Although the DJIA cannot form a bullish engulfing candle this month, it is poised to possibly reach or surpass its ATH soon.

DJI

Will Nasdaq Composite Index (IXIC) Reach Its ATH Soon?

The Nasdaq Composite Index (IXIC) is not far away from reaching its ath. After missing the 0.382 fib support target of 15,013 by 1,3 %, it surged to the golden ratio resistance at 16,039 where it faced rejection. Shortly after however, it broke the resistance bullishly.

It now faces significant resistance between 16,450 and 16,539. The daily chart indicators are bullish with a confirmation of the bullish trend by the EMAs and both bullish MACD lines and histogram. The RSI remains neutral.

Nasdaq

In the 4H-chart, indicators continue to be bullish with positive EMAs and MACD lines. The RSI is neutral, but the MACD histogram trends lower.

Nasdaq

After a considerable drop four weeks ago, the recovery of roughly 7.5 % has led to a bullish tick in the MACD histogram since last week, though the MACD lines are still bearishly crossed and the RSI is neutral.

Nasdaq

A bullish engulfing candle could form if the Nasdaq closes above 16,397 this month. The MACD histogram and lines are both trending bullish for the last two months, with the RSI in neutral territory.

If Naadaq faces rejection at the resistance between 16,450 and 16,538, it finds its next significant fib support levels at 15,013 and 14,000.

Nasdaq

This analysis underscores a generally bullish outlook for these indices, supported by key technical indicators across multiple time frames, suggesting an inclination towards testing or exceeding previous all-time highs. However, traders should stay vigilant for any potential reversal signals at crucial resistance levels.

Market Recovery: S&P 500 (SPX), Nasdaq Composite (IXIC), and DJIA (US30) Bounce Upwards

The SPX, IXIC and US30 behave in a similar way. After a steep correction, they are set for a bounce towards the upside.

S&P 500 (SPX): Overcoming Resistance?

The S&P 500 (SPX) recently exited its ascending trend channel, breaking critical support levels, including the 50-day EMA at 5,077, before establishing a temporary low at 4,955. Since this nadir, the SPX has rebounded impressively by 3.25%, successfully reclaiming the 50-day EMA and surpassing the 0.382 Fibonacci level between 5,073 and 5,077.

The index is now poised to test the Golden Ratio at 5,155. Should SPX decisively breach this resistance, it may reestablish its bullish trajectory, rendering the recent correction moot. Conversely, a failure at this juncture could see SPX retreating to a significant support at 4,955, and potentially further to the 0.382 Fib level at 4,820. The RSI on the daily chart remains ambiguous, yet the MACD histogram suggests a bullish trend, with an impending bullish crossover of the MACD lines. The EMAs already established a Golden Crossover, confirming the trend bullishly in the short- to medium term.

Nasdaq Composite Index (IXIC): Will IXIC Return To Its Uptrend?

Following a substantial correction falling short of its target by approximately 1.4%, the Nasdaq Composite Index (IXIC) has rallied nearly 5%. It now contends with the 50-day EMA resistance at 15,879. A bullish breach here could propel IXIC towards the critical Golden Ratio resistance at 16,081. Overcoming this Fibonacci milestone would signal a negation of the correction, potentially resuming the uptrend.

The daily chart’s indicators reinforce this bullish sentiment, with EMAs displaying a golden crossover and the MACD histogram trending upwards, hinting at an upcoming bullish MACD crossover. The RSI, however, remains neutral, offering no definitive momentum cues.

Nasdaq

DJIA (US30): US30 Missed The Correction Target By 0.5 %

The DJIA (US30) experienced a significant correction, descending to 37,238.4, narrowly missing the 0.382 Fib support at 37,037. Since bottoming out, US30 has rallied by 3.65%, but currently faces resistance at the 50-day EMA of 38,487, where it has so far been rejected.

Should it overcome this barrier, the index could ascend to the Golden Ratio at 39,926. A bullish breakthrough at this level would invalidate the correction phase, reaffirming US30’s uptrend. The daily chart indicators are predominantly bullish, with a golden crossover in the EMAs and the MACD lines on the verge of a bullish crossover, complemented by a rising MACD histogram. The RSI, however, continues to oscillate within neutral territory.

DJI

 

Bitcoin Halving Complete: What’s Next for BTC Prices?

The Bitcoin halving event was completed less than two hours ago, reaching block 840,000. Today, April 20th, 2025, marks the official date of this halving.

Given the recent completion of the Bitcoin halving, which traditionally reduces the supply increase rate by halving the block rewards, we’ve observed a not unexpected moderate price rally. Historically, halving events have been bullish catalysts for Bitcoin as the reduced supply rate often leads to upward price pressures, assuming demand remains constant or increases.

Bitcoin Halving Countdown Complete

Bitcoin Experienced A Moderate Correction this Month

Currently, Bitcoin is undergoing a correction phase, having pulled back nearly 20% from its recent all-time high of approximately $73,800. Despite this retracement, key technical indicators suggest underlying strength in the market. The MACD histogram displays an ascending trend, and a bullish crossover on the MACD lines, coupled with a reentry into neutral territory on the RSI, underscores potential for continued bullish momentum.

From a support perspective, Bitcoin holds above significant levels: the golden ratio near $36,000 and the 50-month EMA around $31,675 provide robust long-term support.

Bitcoin Price Analysis Tradingview

Is Bitcoin Set To Rebound From The Fibonacci Support?

More immediately, Bitcoin is testing the 0.382 Fibonacci support at $60,322, where a potential bounce could occur. Failure to hold this level might expose the next significant Fib support around $51,000.

However, the MACD histogram has been declining for the third consecutive week, suggesting the possibility of an imminent bearish crossover in the MACD lines. In contrast, the EMAs continue to display a golden crossover, affirmatively signaling a bullish trend.

Bitcoin Price Analysis Tradingview

Is Bitcoin Poised To Surpass The 50-day EMA Resistance?

In terms of resistance, Bitcoin faces immediate hurdles at the 50-day EMA ($64,508) and Fibonacci levels at $65,129 and $68,950. A decisive break above these resistances, particularly the $68,950 Fibonacci level, would invalidate the current correction, potentially setting the stage for a new all-time high.

At present, the technical indicators predominantly suggest a bullish outlook. The EMAs have exhibited a golden crossover, a typically bullish signal. Additionally, the MACD histogram is ticking upward, indicating increasing bullish momentum. However, the RSI remains neutral, providing no clear directional cues. The only bearish note comes from the MACD lines, which are currently crossed in a bearish configuration. Nevertheless, this situation may change swiftly if Bitcoin resumes its upward trajectory.

Bitcoin Price Analysis Tradingview

The 4-Hour Chart Indicates A Short-Term Confirmation Of A Bearish Trend

In summary, while the short-term 4H-chart suggests a bearish configuration with a death cross on the EMAs, the broader bullish setup remains intact, supported by multiple technical indicators. The market’s response to these key Fibonacci levels and EMAs in the coming days will be critical in determining whether Bitcoin resumes its uptrend or deepens its correction. Monitoring these levels closely will provide valuable insights into Bitcoin’s near-term directional bias.

Bitcoin Price Analysis Tradingview

Market Correction: Predicting S&P 500 (SPX), Nasdaq Composite (IXIC), and DJIA (US30) Trends

The S&P 500 (SPX) has exited its previous upward trend channel by breaking below critical support levels. Currently, it has found temporary footing at the 50-day EMA, positioned at 5,092.5.

S&P500

S&P 500 (SPX): Continued Correction Anticipated

The S&P 500 (SPX) has exited its previous upward trend channel by breaking below critical support levels. Currently, it has found temporary footing at the 50-day EMA, positioned at 5,092.5. The MACD corroborates a bearish outlook, with the lines crossing downward and the histogram indicating a decrease over the past two days. Despite ambiguous signals from the RSI, the SPX appears poised to breach the 50-day EMA support downwardly. If this break occurs, we could see a descent to the next substantial Fibonacci level at 4,820, suggesting a further decline of approximately 5%.

S&P500

Since reaching a peak three weeks ago, the SPX has corrected by about 4%. Should a bounce occur, resistance might be encountered at Fibonacci levels 5,133 and 5,190. Nevertheless, current indicators from both daily and weekly MACD suggest the continuation of the correction.

Nasdaq Composite Index (IXIC): Potential Support Break Looming?

NASDAQ

Similarly, the Nasdaq Composite (IXIC) has violated its upward channel’s support, retreating to its 50-day EMA. There is a looming possibility of breaking below this level, targeting the 0.382 Fibonacci support at 15,012.5, indicating a potential downside of roughly 5%. The bearish trend is confirmed by the MACD, with a negative crossover and declining histogram. The RSI, however, remains neutral with no definitive direction.

 

NASDAQ

Since its recent high four weeks ago, IXIC has seen a correction of 4.1%, and the bearish sentiment is further supported by bearish crossovers in the weekly MACD.

DJIA (US30): Indications of Further Decline

DJIA

The Dow Jones Industrial Average (US30) has experienced a sharp 6% pullback over the last 16 days, hinting at potential further declines toward the 0.382 Fibonacci level at 36,991. Additional support might be found near the 50-week EMA at 36,367. The MACD signals bearishness through its negative crossover and declining histogram, suggesting a continuation of the downward trend.

DJIA

If the US30 finds support at the 0.382 Fibonacci level, it could potentially reverse towards Fibonacci resistances at 38,122 and 38,900. Despite bearish signals on the daily chart, the RSI is nearing oversold conditions, which may presage a possible upward correction. The golden crossover among the EMAs supports a bullish mid-term outlook, indicating potential for future gains after the current pullback stabilizes.