PsychonauticalTrader

PsychonauticalTrader

I have not seen anyone point this out. $2550 target

PsychonauticalTrader

I suspect it will be quick, too. * Blue sky breakout imminent * Triangle pattern target + fib extension target confluent at TADAWUL:2250 level Once gold clears 2100 I'd say it's all clear

PsychonauticalTrader

Very, very simple projection using previous BTC "Halvening" dates measured to peak of market over the last several years, and then averaging the three periods (again, the length of time from Halvening to next peak) to project the next peak. Used TradingView curve tool to capture the peaks and troughs of the market over time. Obviously using Bitstamp as it has...

PsychonauticalTrader

Please look at the three touches of support on the large broadening wedge formation for the S&P 500. Given that the Fed is hell-bent on causing a major meltdown in markets, I do not see any reason why an S&P 500 target of 2000 isn't totally realizable.

PsychonauticalTrader

.... and likely retest the broadening wedge "megaphone" pattern the S&P has been drawing for quite some time now. In other words, S&P 500 will continue to drop, and drop pretty hard, but likely not as hard as many doomsayers are thinking. 3500 is my point to start averaging back in pretty heavily. We are not there yet.

PsychonauticalTrader

Fiscal stimmy to return prior to November election (to boost Dems) in the face of a complete meltdown in markets and the economy. Will result in BTC pump into a megaphone formation. RSI descending triangle formation supports idea of pump into November, as does macros and chart.

PsychonauticalTrader Updated 

Haven XHV is proof-of-work based coin mined using the Crytonight Haven algorithm and is based on Monero codebase. It is traded on Kucoin, Bittrex, and Tradeogre, amongst others. It has been around since January 2018, was originally started by two developers who left the project and handed it off to the Haven community. The basic premise behind Haven is that...

PsychonauticalTrader

40K psychological (which we're currently teasing right now as support) seems pretty big over the short / medium term. We've made some good ground and the long-term support line which starts in March of 2020 has not broken yet, and seems to be providing strong support on the way up. However, if 40K doesn't hold imminently - I think low 30K level could be in the...

PsychonauticalTrader

..... but no volume spike on the weekly, or the monthly. I think this will calmly bounce off the 21 week, and head up from there. But we will see.

PsychonauticalTrader

1) rising sell volume as wedge ascends (see volume) 2) alts are bleeding - indicating lack of faith in the crypto market (BTC is very close to the 20 week SMA) 3) high uncertainty in the overall market I don't have a target, but this is really just a caution not to FOMO into this pump. As a long term swing trader, I'm not selling any BTC, but I am in the process...

PsychonauticalTrader

At least on the basis of raw RSI divergence: the SPX looks like it's about to fall. Hugely. 1) Currently testing resistance-turned-support at 3300 2) Enormous, aforementioned RSI divergence visible on the monthly 3) Gigantic symmetrical broadening wedge pattern puts target at approximately 2250. (33.3% fall from here). I know. Sounds... big. But admit it, it...

PsychonauticalTrader

I don't think we need to overcomplicate things. Fundamentals * Defi frenzy seems to be escalating day by day * BTC going sideways, likely will continue to be boring for the next month or so Technicals * Chainlink in consolidation after a rise - so this is more likely bullish continuation * Volume dropping Good time to accumulate. LINK could easily be at 80-120...

PsychonauticalTrader

So my earlier chart () came to pass and the ascending triangle has broken down. Now bouncing a bit and retesting previous support. I suspect it will not hold and we will be heading back down. This doesn't mean I'm some DXY permabear - but I think the trend is still down.

PsychonauticalTrader

Personally, I'm betting slightly better odds on a bounce in the next 24 hours from the 20 daily exponential - which right now aligns perfectly with the .382 fib retracement level. If that doesn't hold.... look out below! But a retest of the 20 simple moving average on the weekly wouldn't be the end of the world, and in fact, might even be bullish.

PsychonauticalTrader Updated 

Not a stretch considering dollar fundamentals. Look for gold, silver and bitcoin to recover in concert with this move.

PsychonauticalTrader

Chart is self-explanatory. I think 30$ LINK is on it's way, just give it a few weeks, maybe 2-3 months.

PsychonauticalTrader

If it breaks $30 expect this to go up extremely quickly, likely to $50 without many stops along the way. VPVR indicates maybe 35 and 40 levels to provide some minor resistance after that. If it breaks $50 we have blue sky after that. Gold-silver ratio is still historically very much out of whack and is mean-reverting.

PsychonauticalTrader

Fundamentals * Central bank money printing of unprecedented proportions (US FED 7 trillion and counting) * No longer waiting - institutional money is *here* (Grayscale, Fidelity, Ray Dalio, etc.) Technicals * Volume profile strongly indicates BTC bottomed in early March 2020 * Currently clearly consolidating at 2.5 year resistance Most BTC consolidation...