High time frame, gold has formed a cup and handle since 2011, recently breaking out above the handle with a potential price target and all time high of $2,550 price target. Currently rising above 20 EMA, continuing to reflect strength in face of extreme market uncertainty, runaway inflation, impending FED rate hikes, and rising bond yields.
$LUNA previously retraced -60% from ATH in 5 weeks. In next 5 weeks, will it remain in the rather symmetrical triangle w/ "minimal" retracement? Retrace to bottom at -45%? Knock out the bottom to mirror previous -60%? Or full on correction @ -90%? OR continue to new ATH?
Asset & equity valuations are elevated across the board given unfettered QE. Loose monetary policy and a dovish Fed are no longer sustainable in the face of rising inflation at levels not seen since the late 1970's. Major SPX retracement levels since 2020: 1. dot.com bubble realized >50% retracement 2. 2008 housing bubble realized >57% retracement 3. 2020...
$MANA has lost support of 100 EMA on Daily and is now testing 200 EMA. Clear rejection w/ 50 EMA on the 3-day chart. Clear bearish continuation with $1.08 likely landing zone, 90% retracement from ATH to $0.62 is within range. Metaverse projects are unlikely to be exempt from tightening monetary supply as risk-off institutional activity gains momentum.
BTC has continued to be impacted by broader market headwinds. $DXY increasing reflects inverse correlation, while BTC continues to show increased correlation to $SPX & slightly less loose correlation to $NDX. Flipping to 1-day chart gives a zone between $25.8k & $31.8k as area of contention between bulls & bears. Loss of $28.5k with a daily candle close has...
Nothing to be concerned about here... if you're an ostrich. Inflation spiraling out of control, while bonds reflect the loosest monetary policy possible with a dovish Federal Reserve hand-wringing about tanking the markets. M1 has gone beyond parabolic, practically vertical. The Fed communicated this week that they will try and control future prices but they're...
Bearish continuation with lower highs from relief rallies, whales selling with retail buying. Slow play sell-off continued with MACD, OBV, & rejection below 200 EMA send strong signal. Macroeconomic factors with Dollar continuing to gain in value, highest point since June 2020 & continuing upwards while inflation is spiraling beyond actions that the current...
BTC looks to be losing the handle... further breakdown invalidates the pattern. On balance volume continues to decline. Bearish momentum appears to be returning after relief rally stalled.
BTC daily chart forming a "Cup & Handle" pattern. Expect testing of $42k support w/ breakout price target approximately $52.5k. This breakout would mirror the most recent single day leg up on February 28th. Invalidation is candle closing around $40.5k.
#Bitcoin doing what #BTC does... bullish movement up to $41.8k to $41.9k in range, likely resulting in a nasty bull trap after that. $BTC
2-month red candles = serious corrections for $BTC #Bitcoin enjoys asymmetric upside, AFTER massive retracement. Are you #BTFD all the way down to the $10k-$14k zone? Takes serious conviction. 2011 -94% 2014/15 -87% 2016 -45% 2018 -84% 2019 -72% 2021 -70% 2021/22 -##%
Linear scale: $33.5k expectation given long-term trend. $13.5k bearish case given price action and trend from April 2021 high. Complete SWAG, extreme uncertainty across all markets. Too pessimistic, possibly. Within realm of probability, yes.
$DJI has lost 50 SMA on weekly. Last time this occurred was March 2020, 38% retracement from Feb 20 high. Previous loss of 50 SMA was Oct to Dec 2018, with a 19% retracement. 29.5k is a 20% retracement from ATH, bringing market back online with Feb 2020. 27k level is 2018 high w/ corresponding 27% retracement. Near 40% retracement is 22.4k DJI level,...
$BTC double top with loss of support, immediate zone of support $37k to $38.8k with potential to push to $35k in near-term. Macro environment uncertainty & hawkish Fed resulting in risk-off behavior. Further bearish continuation likely with LTF bounces that present some opportunity for scalping activity but caution must be exercised as continued downward...
$BTC 2 bullish formations on daily Inverse Head & Shoulders with a Cup & Handle. Potential reversal patterns, but loss of $40.9k would negate the reversal and indicate bearish continuation as more likely. Must watch $41k support zone closely.
BTC 3hr testing support continuously in descending triangle, $42k support likely failing with move down to $38.2k.
BTC from late December 2020 to present has followed George Lindsay's Three Peaks & Domed House pattern.
Last 2 times BTC MA cross, nearly 50% retracement after the cross (2018 & 2020) If history continues to rhyme, $24k is on the table (reference: MA Cross set @ 13 & 48)