Irregardless of direction im expecting expecting a 4-5% increase to test resistance above us.
If Rejected im looking for a -20% move from lows to retest the support.
What does that mean for bitcoin?
looking for a move to ~48-49k before hitting resistance.
If Bitcoin rejects at resistance i would be looking for a move down to 35-38k (Hard to calculate for in...
Hey All, Obviously I'm not making the claim this is the very top of the market but with the euphoria in the markets about the Fed not tapering, buy the dip mentality and the excessively high valuations it should rise a few red flags on the long term look of the market. just simply looking at the bigger overall trend of the market shows this is the blowoff on a...
Drawing the fib. levels from ~2019 and the 2020 march top and bottom match almost exactly - look out for a blow off top forming near important fibo extension level that is near current price. Basicly looking for any accelerated move up in price (possible over 3+ days) near / into this level could lead to blow off top. It looks like this move could be underway...
Does it mean the end of crypto If this scenario plays out and we are in a massive bubble?
- No, we just got a bit ahead of ourselves, need to blow off some steam and continue with a healthy growth-rate
As Kuh Kuh Cathy Woods finds God and re-discovers "Faith" in investing -
her flock discovers the very same religious experience.
Faith in Central Banks ability to backstop Markets is accelerating.
The phenomena is not limited to TECH, it is global and it has expanded
to every Capital Stock - Real Estate, Equities, Commodities and Bonds.
Crypto and the Metals...
Very curiously lots of people have been asking where the blow off tops have been for crypto because they are use to seeing blow off tops on crypto on weekly or monthly charts. As the market matures it begins to move a little slower and we can see that by looking at the newer coins, BND and ETH showing a blow off top on the 3 month but BTC showing the blow off...
As BTC corrected as it suppose to, it caused a sudden and quite unexpected flash crash across the market, followed by another accumulation that took us slowly even lower with altcoins. Lots of people got shaken out and over leveraged accounts liquidated. For those who made it out alive ;), expect the green days to come. That is of course if btc goes up, which it...
I may have found a pattern between all the corrections we've had since 2018.
There seems to be a 1.7x factor between them.
12 x 1.7 = 20.4
20.4 x 1.7 = 35
If the pattern holds true then...
35 x 1.7 = 60
If the pattern continues, then that would mean a 60% crash for SPY.
If we assume the bottom of the 60% crash follows the lower support level as shown on...
Every major top ended with the parabolic, a vertical unsustainable spike, delivered on an exhaustion gap.
Overlay from Aug > September fits perfectly... expect a gap weds or thurs to terminate in blowoff around 4200.
RSI went to 88 on 2 September. Closed at 77 Tues... still room to run higher into overbought zone IMO.
Trade at your own risk; GLTA!
I have seen quite a few blow off tops while I have been in crypto and of course bitcoin's is the most famous. One of the most annoying things about charting is when you have to redraw your lines over and over based off the price action. Typically triangles get bigger and bigger or wedges get bigger and bigger and and blow off tops are typified by...
The previous high became a support. If we compare the current chart with previous bull runs, we can get very excited.
One thing I have seriously no clue about is how big this move could be. However, I firmly believe that afterwards we would see a nasty correction again.