When we put DJT against SPX it is plain to see the non-confirmation. So, what does that mean? In simple terms, this is an indicator that there is a fundamental weakness within the economy. Both the DJI and SPX are at all time highs, yet it is quite obvious that since the May high on the DJT the demand for goods is just not there (there are only so many 80 inch TVs...
ELLIOT WAVE 5 IMPULSE: A snapshot of the weekly to date, June 25th, 2021. I am under the conviction that we are looking at the beginning of the stair-step-down. I'm keeping an eye on the daily also, observing it for a tell. As it stands there are two scenarios I see playing out - as follows:
A more rapid decline with a crash September 2021
A slow decline then...
A snapshot of the weekly to date, June 23rd, 2021. I am under the conviction that we are looking at the beginning of the stair-step-down. I'm keeping an eye on the daily also, observing it for a tell. As it stands there are two scenarios I see playing out - as follows:
A slow decline then a grand finale December 2022
A more rapid decline with a crash...
Classic "Descending Triangle", whether or not I'm contradicted by the Bulls is yet to be seen. Nonetheless the triangle is here in plain sight and expect a downward trend to the 61.8 ($44k) as I have noted in my weekly chart dated 19th April. Take care out there and don't try and catch falling knives, they hurt!
PLEASE NOTE: This is not financial advice.
Looks like a possible further pullback. If the asset breaks below the 61.8 expect the action to be reflected across the board as deflation begins to tighten it's grip.
DISCLAIMER: The information and charts provided by me are not financial advice.
Here's a 90 Day Chart that tells me that we're going to be in consolidation until April 2022.
A symmetrical triangle chart pattern represents a period of consolidation before the price is forced to breakout or breakdown. A breakdown from the lower trendline marks the start of a new bearish trend, while a breakout from the upper trendline indicates the start of a...
Overhead providing questionable movement to the upside in this timeframe. Only those who are NOT SWING TRADERS - those who trade lower than hourly know the current game better than I. I'm hodling until I see a break above resistance. CAVEAT: do as ypou see fit. NOT financial advice.
Previous support has been broken (see the pink dotted line). CME Futures Gap (from previous chart) looks like it's providing pressure - from where we are now it appears that the impetus is to move towards the S1 Level. That's it from me today.
Using VPVR the 21, 30, 100 & 200 EMAs on the BTC.! Chart it's easy to plot areas of possible up or downsides by looking at the strength of volume or the lack thereof and whether or not the notion of a drop or pop is supported by the EMAs.
So we all talk about Moving Averages as support for BTC, especially the 21day. Yet, I am struck to find charts out there in the TV Universe - so I've taken it upon myself and made a very clean one. The thing is... When dialed back to the 4hr the 21day chart becomes quite telling, more so (dare I say) than looking for divergence - at least that's my take on it. You...