TraderEddyY

TraderEddyY Updated 

Bitcoin has had an incredible run this year from $3K range up to $13K range. However, Bitcoin is overdue for a correction. As you can see in the chart, Bitcoin has historically respected simple moving averages. For example, when Bitcoin bottomed in 2015, it respected and held the 200 day SMA levels (blue line - green oval). When Bitcoin bottomed in late-2018, it...

TraderEddyY Updated 

I believe the markets will experience a minor pullback toward the weekly 50 day SMA levels (silver line) over the next couple of weeks. However, we should recover and move up to new all-time-highs by the end of the year. Current market conditions remind me of the cautiously optimistic sentiment in late-2016. Investors waiting in cash or short the market will feel...

TraderEddyY Updated 

Lots of bearish sentiment around Tesla stock right now. Possible contrarian trade for those not afraid to buy into fear. I'm looking for levels to drop further into the yellow zone with RSI touching 30. Similarly to February 2016, we may see a strong reversal. However, I would be cautious if price falls into the red zone. Good luck trading, Eddy Yang

TraderEddyY Updated 

Bitcoin seems stuck in a descending triangle that peaked in late-December. Many people have been predicting that Bitcoin will recover and will make new highs by the end of the year. However, I believe they are wrong. I believe Bitcoin will continue to fall as institutional traders continue to prey on the optimism of dumb money. I am short and mid-term bearish....

TraderEddyY Updated 

My prediction is that Bitcoin will continue to fall for another year. We may start to see a bottom form in mid to late-2019; however, I am not counting out a possible bottom in 2020. That’s right, I believe this bear market can continue for another year. It doesn’t matter what you think the price should be; it only matters what the institutional traders want. This...

TraderEddyY Updated 

The Dow continues to trend sideways with strong support along the 100 day simple moving average. If it can’t make new highs, I believe we will see the Dow drop below the 100 day SMA and perhaps test the 200 day SMA. I don’t believe we will experience a huge drop, but it’s not impossible. Ultimately, I believe the Dow will continue to trend sideways for a while...

TraderEddyY Updated 

The Dow has broken below the resistance line of the wedge and looks to fall further. Short and medium-term bearish; long-term bullish. The correction continues. Below, I will link a graph to possible support levels. Good luck trading, Eddy Yang

TraderEddyY Updated 

Although I am long-term bullish on Bitcoin, I remain bearish in the short and medium-terms. Support levels at 8k, 6k, 4k, and 2k. If we can hold 8k or double bottom at 6k, we might see a reversal. If we break below 6k, we will probably see a sharp selloff to 4k or even to 2k. Good luck trading, Eddy Yang

TraderEddyY Updated 

I believe Bitcoin will surpass $100,000 and possibly rise over $300,000 by 2025, implying a trillion or even a multi-trillion dollar market cap. To get this forecast/prediction, I did a Fibonacci retracement of both the 2014 bear market and the current bear market and simply copied the equivalent levels in today’s prices. Taking into account today’s greater...

TraderEddyY Updated 

Repost from XAUUSD: I believe we will see Gold over $5,000 in the 2030s to early-2040s. From 1966 to 1980, we saw a bull market in Gold that peaked in 1980; Gold rose over 8x from a price of under $100 to a price of over $800. During that time, the stock market was in a consolidation period or a consolidation rectangle of sideways price action which ended in...

TraderEddyY Updated 

Current View: Short-Term: Bearish, Mid-Term: Bullish, Long-Term: Bullish Gold is forming an ascending triangle and is looking to break out higher. Short-term bearish as we move down and up in this triangle pattern; this could be a short play. I'm looking to accumulate on the dips. Overall, I am long-term bullish for gold. Eddy Yang

TraderEddyY Updated 

I believe we will see Gold over $5,000 in the 2030s to early-2040s. From 1966 to 1980, we saw a bull market in Gold that peaked in 1980; Gold rose over 8x from a price of under $100 to a price of over $800. During that time, the stock market was in a consolidation period or a consolidation rectangle of sideways price action which ended in 1982. From 1982 to...

TraderEddyY Updated 

Current Views: Short-Term Bearish, Mid-term Bullish, Long-Term Bullish US economy and business earnings are well this quarter; however the bullish run from late-2016 to January 2018 has run up steeper and steeper to the point of unsustainable growth. US equities have become overvalued as they have strayed far from the 100 and 200 day moving averages. Fears...

TraderEddyY Updated 

I predict the Dow Jones Industrial Average will hit 100,000 by 2028 - 2030. To explain, let's first summarize trends of the last 100+ years of the Dow Jones: 1900 - 1954: Consolidation Rectangle 1954 - 1966: 12-Year Bull Market 1966 - 1982: 16-Year Consolidation Rectangle 1982 - 2000: 18-Year Bull Market 2000 - 2013: 13-Year Consolidation Rectangle 2013 -...

TraderEddyY Updated 

Current View: Short-Term: Bearish, Mid-Term: Bearish, Long-Term: Bullish Bearish MACD Crossover signaling a possible move down to $8000. Possible double bottom at $6,000, but if we break below, we can possibly see $4000. If we break above, there may be a chance at a breakout to around $16,000, but I believe that would ultimately be a bull trap. As we are in a...

TraderEddyY Updated 

Current View: Short-Term: Bearish, Mid-Term: Bearish, Long-Term: Bullish Silver is forming a descending triangle and is looking to fall further. This pattern is similar to the 2013 to 2014 descending triangle. Support level is at $14; possible double bottom if we can hold, but likely to fall further if we can’t hold. I am long-term bullish on silver and will be...