Looks like we are not done.
1- The chart on the top is my SP500 chart, with a short term pitchfork I had plotted on top of the macro ones, that added confluence to my previous SP500 idea.
2- The drop managed to cross the golden pocket of the fib from the last "fakeout" out of the rising wedge.
Now can expect it to go either test the 0.786 level and breaking...
might bounce again from the 0.786 fib but overall seems like this one is headed up especially if FED will announce tapering on Sept 22nd.
That will coincide with further downside to BTC and crypto market! since this index has reverse correlation on macro level with crypto market.
Schiff downtrend pitchfork still at play!
Bigger probability for BTC to go down much further after touching the top of this pitchfork again!
44K might be a reasonable target by the end of this weekend.
An imminent crash is coming?
Too much confluence between a huge rising wedge of this insane bull run (which statistically is old enough to have a major correction),
and one of the oldest techniques in the book of overlaying a Schiff pitchfork on an Andrews pitchfork.
Basically, this run has no more fuel to go up.
FTT 4H looks like wyckoff - might dump if bitcoins go down
currently BTC hogging 44K as support for the 3rd time in the last week or two
if this will switch to Resistance FTT will probably dump to shake out weak hands - and then bounce to the sky like SOL
Overall ETH and BTC are less bullish atm.
we might see more downside.
if you want to play it safe - open the 1W chart and wait for the next week to flip green (still 4.5 days to go).
I think it is wiser, from risk management perspective to pick up ETH for the long term, after BTC flips 0.5 fib from resistance to support!
This can be a failed rally and ppl will...
the bear bulls slog fest of the last few days was all about taking back BTC to it's next fib level.
I think we can see more downside tomorrow. there is stronger support lower, and most indicators really need some cooling off
if we want this rally to not falter.
you never know, if this is the last dip! scale down on your entries.
if the DXY keeps rocketing I'd be...
EMA3, EMA8 was above all moving average up till yesterday -
which is a big big signal after the convergence of the MAs EMAs.
I think it's time I start adding - that this is not financial advice, I am just sharing my ideas or trades!
I hope that this is just going to be an irrelevant idea and that we are not seeing a Bear trap before a big spring up.
I still have most of my purchase orders set at 24K and lower all the way down to 16K.
Let's hope we are not being fooled here.
There's no doubt that Covid19 was an entry point to institutional money with that miraculous 60% correction within a week.
The BTC world has changed. We feel it in the water. We feel it in the earth. We smell it in the air.
Much that once was is lost to their Algo & Bots and "Retail" shaking techniques.
For these men, above all else, desire power.
down all the way to ~25750!
MAs and EMAs are adding hard resistance.
RSI broke down from its bullish divergence (higher lows vs price lower highs).
The banks bought, the GBTCs of the world bought, the whales bought, the Saylors bought.
Who will buy now for a 100K+ run?