bmrm98

bmrm98

not only are we seeing a rally on super weak buying, but this stoch rsi wedge is printing beautifully, upside is limited at 100 sma which interlining exactly with my old trendline. this would be the 2nd denial since the top in dec 2021.

bmrm98

the way the past couple of years has been, its anyones guess as to how this unfolds.

bmrm98 Updated 

things still look interesting, we will definitely see how this one plays out. i think this recent rally is mere speculation due to the fed/banking crisis. would bitcoin survive an asset selloff from major bank failures?

bmrm98 Updated 

just a more drawn out version of my other charts, wrote most of what you need to know on the chart. theres a slight possibility a recovery bounce occurs off the .236, but i highly doubt it.

bmrm98

without saying too much, i see two possibilities here 1. we are about to see the largest economic collapse in any of our lifetimes 2. we are about to see the kickoff of hyperinflation either way, i think it might be a good time to hold some silver and gold. crypto isnt decentralized, dont trust it.

bmrm98 Updated 

im seeing this exact chart on a lot of major stocks right now (will publish a few more, blackrock included.) i know this isnt that massive of a target to call, but if this level breaches we lose the support between the covid selloff and most recent downward momentum, which means we will likely see a lot of panic selling across the stock market. dow is more of an...

bmrm98 Updated 

being that this wedge is supported by indicators, i feel it has a high probability of playing out. there is already news of a housing selloff beginning (as a 22 y.o renting, im pretty happy about that lol,) it is only inevitable blackrock corrects with it.

bmrm98

we've already begun sliding from the first time i posted this idea. on the monthly (and 3m,) the MAs are much more strongly respected. if we blow thru the 50sma we will likely be moving back to 2008 levels.

bmrm98

many stocks are in the same pattern right now, the 20 that propelled us up has now become resistance, now its time to move down the MA totem pole.

bmrm98

all just speculation, but being how weak things are currently looking i do see this as a possibility.

bmrm98

they have been trying to push this off as long as they can, clearly this is a dead cat bounce. what goes up must come down.

bmrm98

this is all just food for thought, but i truly think we are at the infliction point of some very bad economic crises

bmrm98

we wont know where we land until we have arrived there, but the macd says a lot. i expect a massive move.

bmrm98 Updated 

well, the price has been throwing us a lot of mixed signals lately, however i believe it was necessary that was test and reject this area, being that we are witnessing the first weekly death cross in bitcoin history. we have already been rejected from these MAs on the market cap chart, so i think it is likely we will print a firm rejection on this weekly candle...

bmrm98 Updated 

we moved down to the bottom of the wedge as i called at the top, now my question is will we go lower? indicators have barely budged despite the price decrease, time will tell.

bmrm98 Updated 

wedge breakdown on stoch correlating with rejection of top trendline, only logical outcome.

bmrm98

in the short term, we will likely be testing the daily moving averages as support around 19k, once those fail next level of support is around 15k, after that is discovery, check out all my other charts calling the same thing for other info

bmrm98 Updated 

this recent bullish momentum is unsustainable, we are extremely overbought and the price will react accordingly soon.