ChronicMasturTrader

ChronicMasturTrader Updated 

This will sound insane. Mainly because it is. Gold has in the past few years created a double top on the monthly chart. This is problematic, as the bias is bearish and the breakdown target would send gold to 1300 in a descending wedge with a bullish breakout target that could create one of two head and shoulders formations. One is slanted upwards, which is the...

ChronicMasturTrader Updated 

No surprises here, just a price target. I imagine that global demand for USD is on a sharp decline since the recent events in DC. Money printer go brrrrr for extra stimulus. The fundamentals are bad enough to cause a bullish formation to head south. The next destination is around an 81 handle, or about a 10% decline. I'm not sure on the timeline, but would imagine...

ChronicMasturTrader Updated 

Historically, the difference between the STARC and Keltner channel basis lines reaches an area of around 50% on the monthly chart when Bitcoin cycle peaks form. Generally, the difference hits around 45% one or two months before those peaks. Right now, we're at around 45%. Given the nature of this current cycle, I'm not expecting price to drop below 50k. This may...

ChronicMasturTrader Updated 

Here's an optimistic scenario: Bitcoin fails to break out of the bull pennant thanks to low weekend volume and falls out of it, retests support as resistance, fails, falls to around 21,500 USD confirming a bull flag, dead cat bounces, then sets up for a breakout early in the business week with a target of 26-27k. Will it happen? Only time will tell. Is it...

ChronicMasturTrader Updated 

Ethereum could be in the process of forming an inverse head and shoulders. I'm keeping an eye out in the hopes that we do see that second shoulder form around the 600 USD level soon and that it is followed by a breakout. Our target to the upside would be in the 680-690 USD region, abruptly enough that we could expect a bull flag or pennant to form, and with enough...

ChronicMasturTrader Updated 

On the thirty minute chart, Bitcoin is currently in a small descending triangle. The downside target on that is about 25,000. The problem is that once reaching that target, we're still in a larger descending triangle. The downside target on that one is more like 21-22,000 and would constitute a 25% dump. If we form a descending wedge in the process, the upside...

ChronicMasturTrader

We've just broken to the upside of a small symmetrical triangle and will likely come back down to re-test (white line) for support. That retest may or may not invalidate this broadening wedge. Everything looks bullish here. I anticipate that the re-test will succeed, that this broadening wedge will play out and that we'll stay under the (purple) trend line which...

ChronicMasturTrader

CDC has this policy where they release incredibly bearish news, lol at the CRO sell-off then they "listen to their customers" and toss a few peanuts out for the circus animals. My assumption is that this most recent rise will compel a few lingering bitter customers to sell off, then we'll see a double bottom, and then maybe CRO will consolidate. Maybe.

ChronicMasturTrader Updated 

From time to time, Bitcoin begins moving in distinct arcs. We're moving along an arc matching the one that brought about the 20k blow-off top. If this arc plays out, we'll see a blow-off top in the neighborhood of 26,000 to 27,000 USD. It isn't likely and it wouldn't be natural, but it isn't impossible. The fundamentals allow more than enough room for Bitcoin to...

ChronicMasturTrader Updated 

We haven't moved in this specific arc since the 30th of April, 2019. During that move we saw a 36% rally over a span of under two weeks. This rally isn't supposed to have enough gas to reach that point. It's supposed to maybe hit the low 11k region and peter out. A 36% move would put as at something more towards 12.3k for the peak before a correction and the...

ChronicMasturTrader Updated 

With this morning's rise, we saw validation of the blue arc representing pre-existing resistance as Bitcoin on the one minute chart briefly popped above it and converted it to support before being pulled back down in to that triangular zone of indecision. This motion may have solidified a new trend showing a flipping of the support and resistance represented by...

ChronicMasturTrader

The chart speaks for itself. Potential 36% pump on this run up if we keep it going over the next 2-3 days.

ChronicMasturTrader Updated 

It looks to me like we'll see an adorable attempt at an explosive breakout from this ascending wedge around 11 am EST. In the long run, I'm bullish on VeChain. In terms of the next week, I'm going to treat this as a great temporary exit point because I suspect that we're going right back down after making this move then trading sideways before re-testing support...

ChronicMasturTrader Updated 

This is a thought exercise. The thought was "What if I toss on Bollinger bands and draw arcs following the bands more so than the price action itself?" We have here a few arcs. The red arc is our current macro wave's resistance. If we stay under this red line, we'll see a return to volatility quite soon in the form of a drop. If the green support arc or the blue...

ChronicMasturTrader Updated 

Chainlink is correcting. I think we all saw this coming. What might surprise you is just how bloody it could get. Not long ago, everyone who'd ever bought Chainlink was either in profit or at least break even. That isn't true anymore. The actual basement on this dump is around $4.90, or right about where this last parabolic rise began. I don't think it'll hit...

ChronicMasturTrader

We'll see how this plays out. Maybe I'm on to something, maybe it's just a pile of rubbish. There are some arcs that ONG has followed in the past and may or may not respect in the future. If this plays out, then we're looking at a $1.00ish ONG for a little bit before it bonks its noodle off the resistance arc and comes down for a correction. After that, I suspect...

ChronicMasturTrader Updated 

Good job, Bitcoin. Right around the time the hashrate buy signal was busy flashing, you printed an adorable little bear pennant that's hard to take seriously because it's within a bull pennant within a bull pennant. Now we get to sit around watching you range within a narrow spectrum while arguing over whether the bull run starts anywhere from tomorrow to October....

ChronicMasturTrader Updated 

Fetch A.I. has a lot of use cases that are pretty relevant in this pandemic. The fundamentals are good. It just went on a good run and has to pull back now. I'm looking to buy in at the 0.04 USD area unless the pullback begins to look like it will be more steep. It could realistically head back down to the 0.35 USD area. It looks primed to double or better in the...