see last post for details. 12 hour stochs have been spot on as noted by Krown... Have to give him credit for pointing this out a while back.
I'm long towards red resistance area until we get conformed breakout above $11k I am short down to $6500 if we break the $9k support and close below 21 weekly EMA.
This very bullish for precious metals including gold if the gold/silver ratio breaks down from it's extreme high value of up in the 90's. historically it trades in the 12:1 to 30:1 depending if you are going back decades or hundreds of years.
Time to take some profits in coming days and buy back in a few weeks on a pulback. Silver too. Here is my rought gold/silver trading algo: *SELL Gold (and hence silver) when gold futures chart: +MONTHLY > 11% above 12 EMA (+5~7+ green monthly higher close candles?) - watch TDSA +WEEKLY > 5.5% above 12 EMA +DAILY bear div(s) +DAILY >15% above 200...
IF VIX breaks to upside that confirms the technical setup for a larger market move down.
Just throwing this out there.... I am currently very bullish as long as bitcoin stays closed on weekly candles above 21 EMA around $9k. However, To stay neutral and open, I have to accept we maybe undergoing a very macro re-accumulation and all it will take is one very large operator to manipulate the very small float of bitcoin to stay within a very large...
Long term target is >>$100. Silver will eventually break the previous $50 ATH and go on towards $100+ as MMT/money printing goes into overdrive.
It's rather disgusting that American execs propped up their companies stock rather than make Merica great by investing in its future by simply buying back their shares at inflated prices instead of putting back into future R&D and development or other investments. Once the share buybacks slow down the market will collapse under it's one inflated bubble.
If stays within long term channel, I would expect a bond selloff soon.
Tihs chart plots all the various yield curve inversions. In thick red line is the important 10-2 year.
Look at tom demark indicator and huge monster bearish divergence formed the last couple decades... wowsers. Target for me is similar to Nikkei index from 1989 to ~2003... about 85% drop from all time highs... (and still ~50% off all time highs)
The alt coin (top alt coins tracked on tradingview) total market cap will have a death cross very soon using Krown'ctyptocave's favorite 55/200 EMAs. Expect more downside to come. I personally tbink the alt coin market will have a slow bleed to a final capitulation in coming months... The bleeding is still not over.
This is a once a century setup. You don't get such massive divergences caused by primarily inflows from corporate debt fueled stock market inflows. Soon the corporate debt bubble will burst in the high-yield sector and this may be the catalyst for a 50-65% very quick selloff.
This is a beautiful Wyckoff re-accumulation setup scenario as long as we hold support at the weekly 21 EMA. I believe either the bottom is already in for bitcoin at ~$9k or we may see one more move down to the 21 weekly EMA which is around $8900 right now and could form a spring there if happens soon. Price and support is moving up quickly each week via the...
Beside the 100+ bearish divergences and lack of rationality... the only thing left fueling this market it seems is dumb FOMO money (both retail and follow-the-heard money manglers) as well as share buybacks (dumb corporate debt). At some point it's all going to retest December lows... if not now, then after any sort of melt-up but this seems a great candidate to...
7/23: WEEKLY 9 SELL, looking for healthy bullish consolidation and at least a ~5% pullback to ~$1380 weekly 12 EMA Then perhaps on to reach iHnS+fib extension target of ~$1720
I believe bitcoin and the stock market appear correlated most of the time because they both tend to go up in general. However, it seems that bitcoin leads the market by a few weeks in dumps and if true, the stock market is about to crap itself. Fundamentally there are dozens of indicators why the stock market needs a sizeable 20%+ correction. Also, I am...
Thanks to Eric Crown at Krown's crypto cave for pointing out this RMI+EMA control zone on monthly during last 2015. This is still appearing to be a healthy monthly and weekly consolidation. You can see in 2015 we actually rose more (411%) than 2019 (349%) from the trough to peak of bear market recovery before the monthly RSI his the bullish control green zone...