There's been many bullish divergence + higher low patterns happening on the daily chart of the S&P 500 leading to bear market rallies. It is now happening on the weekly chart which could suggest something more than just a bear market rally and instead an actual rally that leads to a bull market. To confirm the weekly bullish divergence, we want to see a higher low...
For the stock and crypto markets to bottom, the fed needs to pivot and begin lowering rates/stop raising them. The Fed will pivot once the CPI gets under control and would certainly pivot if unemployment spikes. Unemployment is still low, but commodities appear to be going down in price, at least temporarily and commodities affect the CPI. This is a good start....
People always wonder what the next catalyst is for the next recession. In the 2000s, it was the .com bubble, in 2008, it was the housing crisis, in the late 60s - 70s, it was inflation combined with the FED hiking rates. We are in a very similar situation now to the 70s. The unemployment is currently low, inflation is rising, and the FED is hiking rates. The...
The summer of 2021 looks quite similar to the range bitcoin has been trading in except it is stretched out by almost exactly a factor of 3. To see the resemblance more easily, the bottom chart is a 3 day. Of course they're not exactly alike, but there's enough similarities where it may have some merit. I personally am not putting much weight on this to actually...
MACD bearish and bullish divergences with Bitcoin occurred 4 times on the daily chart in 2021 and proved to be successful. It looks like it could happen again with bullish divergence - lower lows on price with higher lows on the MACD. I think the answer to this question is still at least 3-4 weeks away. As long as the MACD remains in an uptrend, a reversal of...
It's gonna be a while. Lower high on the MACD with a higher high in price = no bueno. This is particularly bad because it happened on the weekly timeframe. A hopeful scenario is we get an accumulation period between 40-42k similar to what happened between May and July. Hope is obviously not a strategy, but good luck.
Bearish divergence with the MACD and RSI resulting in a correction. It's happened twice before and now here we are for the third time. It is my speculation that bitcoin will eventually break the all-time high again and continue on. The weekly chart has been a bit overextended and this pullback was needed. On a macro scale, a 3x from last cycle's all-time high...
The current price action is very similar to earlier this year but shortened. If I had to guess, I would speculate that the end of the next accumulation phase would be around 37k in mid-October, specifically October 16. Of course, it's unlikely to be exactly that date, but this is the date you get if you solve a proportion based on what happened earlier this year.
Christmas came early. It may or may not be a merry one. I will say, although it's a bearish pennant, like everyone on this platform keeps saying, pennants are fairly unreliable patterns compared to other ones like a head and shoulders for example, or an ascending or descending triangle, or a double bottom/double top etc. So, there is a bias to the downside, but...
Pennant pattern. Strong support trend, false breakout of resistance trend. Now, maybe we'll get a double top, followed by a pullback to the support trend, then a breakdown of the support trend or a breakout of the double top.
Pullback to a previous resistance area, which coincides with the 200ema (which has been tested before in previous cycles and has held), which coincides with the stochastic.
