It's always similar to someone falling from the 25th floor.
Everything is fine for 24 floors. Ignored.
You can hear flies, then noobs all get excited and push each other to bet he will die after he hit the ground.
Actually not even, they hesitate, they are afraid, they want to be real sure, so they wait till he is declared dead at the hospital and rush to bet he...
Either it will melt-up and follow the trend line in the short-term or it will drop around 30% or more to $112 where the 200 HMA will be support. There is risk of it trending downward to $125, $112, or $107 support lines if it closes below the black support line next week.
Falling from hourly channel, simultaneously invalidating the breakout of the daily-defined falling wedge.
1st support at 90.4, further selloff toward 89. Below 89 is Timbrrrr line.
Bullish for metals, commodities and the wider market. Could be some surprises along the way. I originally expected this breakout to be further to the upside
Update to the original post.
Price pushed up more impulsively for the first wave than originally expected, so the pullback down to 1817 should be sufficient to generate fuel for the next push up.
Today's intraday fed-induced short-covering seems like a spark for another push.
YOU ALREADY KNOW WHAT THE FUCK TOMORROW AND WEDNESDAY IS. SPY POOOOOOOOOOOOOOOOOTSS GO BRRRRRRRRRRRRR OR SPY CAAAAAAALLLLLLLSSSS GO BRRRRRRRRRRRRRRRR. EITHER WAY YOU HAVE TO BE FUCKING READY, CHECK OUT MY LEVELS THEY GO BRRRRRR.
Manipulation or not, I expect this Bull Flag pattern to play out through year end. I think we could see huge one day gains that draw liquidity into the market right before topping out. Eventually, the market has to drop since we have no GDP. Maybe some time around year end we should see the bearish weakness and huge downside potential.
So ya'll might see a pattern of me posting silver ideas for a while, and that's because I have dropped indexes and stocks for while due to my account size and the stupidity of retail traders driving stocks way too high and selling too quickly. But one thing they won't do is commodities because they probably don't even know what that means. So, my only option for...
Triple bottom bounce incoming? Money printer go brrr.
Green = inflation adjusted (negated from price, representing a lower price)
Orange = actual market price
Of course I didn't take LTC inflation into account. Is it useful? You be the judge.
Recently, I have been trading silver on the SLV etf options due to markets being irrational, so I have been capitalizing over this chart, and I decided I will release it today so that you can have a better insight on silver. If an editor picks this realise that I only have like 400 hours or something looking at charts.
If we gap up tomorrow the market will moon, like as you see the last break. Forget Covid, because the market would have reacted to that on Monday and there would have to be a huge surge in cases for a reaction, which is unlikely. Also, this is very, very important because there are two consolidations worth breaking and a pivot that was resistance but is now acting...
Boeing is fundamentally screwed and on a technical level we have yet another descending triangle. Support for a bounce at $155 is possible but I don't trust this company for much of a bounce after the last rally. That rally was BS. Maybe government contracts could pump BA but not much else at this point. Perhaps a buyout, perhaps nationalization but they wont make...
For the time being, Bitcoin (BTC) is well correlated with traditional markets.
What this chart shows me:
Bitcornz on the Weekly TF. 3 major drops since ATH. All the bullish rallies and comebacks to date have yet to really break free of the downtrend, however it's above it longer now the previous times. it's like watching an asset dance on a knife...
Should see a weaker dollar as interest rates remain at or around 0%. This, along with Quantitative easing should start to affect the strength of the dollar. As you can easily see, the correlating divergence trend in the strength of the U.S. Dollar and Bitcoin points to a weaker dollar and stronger Bitcoin.