mattpowell

mattpowell

I’ve been calling this for MONTHS, first I called crypto and then said the market will follow. This is it everyone, all indices are forming head and shoulders, rising wedges on all larger time frames. This will be largest market crash of our lives. Everything is set up to perfection, the charts, the economy, the global tension with Russia. It’s being put onto...

mattpowell

The ES looks to be forming the right shoulder at ATHs. It’s also currently in a bear flag, this is really confirming my bearish bias of a crash. There has been a head and shoulders before a crash before. History repeats itself, but not all patterns are the same. It’s only a matter of time.

mattpowell

Two market crashes scenarios created based upon the 4 big crashes, from the Great Depression Crash to The Covid Crash. I gather data of how the market reacted to the previous crashes to create a prediction of this upcoming one.

mattpowell

As you can see we are only in correction territory, in the stock market at the moment across the indices, however, it could be reasonable to possibly see a bounce here before seeing the final leg downwards, as it breaks out of the theoretical head and shoulders. I feel the biggest crash in history is coming and we will be set in for a multi year bear market,...

mattpowell

At the previous weeks close we saw an inverted hammer at the top of the trend, with this weeks close we can see a bearish engulfing pattern on the weekly chart. Along with this we may also have the January effect come in and create the sentiment for the rest of the year. I personally feel the market is going to crash very soon, however, you can only play the price...

mattpowell

Inverted hammer on SPY weekly, if this does play out, after each inverted hammer on the SPY at the top of the trend is has reversed. Not only that but this could lead to a bad January, where we could have the January effect come in.

mattpowell

The whole market is looking very toppy and bearish. I wouldn’t stay bullish especially if it’s a bad January.

mattpowell

Pin bars at the top of trends are very powerful indicators or a reversal. Why? Because the large upper wick shows that the sellers are more powerful than the buyers and have managed to keep the candle below its open price, creating a pin bar. The reason this could be so powerful is because it’s rejected off of all time highs. Not only that but this could confirm...

mattpowell

The whole of crypto is in an interesting space at the moment. As it’s currently nearing all time highs and is also in the formation of bearish reversal patterns at the same time. Check out my Bitcoin post where I go more into detail about Bitcoin and the market.

mattpowell

This isn’t saying to be bearish on bitcoin but it’s something to keep in mind if it doesn’t break all time highs. If we break through to ATHs we will most likely see 90-110k. If the double top does play out, we could see a downside to 20k. It also depends how the stock market plays out as we are nearing a crash as it is. As the market has rebounded off of...

mattpowell

On the daily timeframe bitcoin has shown a bearish divergence on its RSI, I believe it will still make its way to around the 51k resistance and then take a tumble down to its 41k support and possible dip towards the 35k support. This is a good opportunity to buy if you haven’t in my opinion.

mattpowell

This is post will not be in depth. I just wanted to keep this one record. Bitcoin will still go lower, I personally feel like within the next 5 weeks we will be back down to the 28.7k support and possibly take a trip to the 16 -24k region, if not longer From there we will build back up to match all time highs by the end of the year and go to astronomical...

mattpowell

Just a quick look at the recent pump: As you can see we’ve just broke the trendline after a pump, however, one thing you can notice is lack of volume. This is often a sign of a fakeout which has happened previously after the crash. Obviously nothing is certain, but I am still very bearish on crypto and believe this is the final pump(bull trap) before crypto has...

mattpowell

ETH has bounced out the supply zone for the 3rd time. If it continues it’s trend and hit the downward trendline we will see a crash in crypto within 3 weeks. However, there is always the chance it breaks the downwards trend and begins to slowly build back up.

mattpowell

Bitcoin has broken through all trendlines and is continually forming bear flags on its way down to the 28740 level on the 1hr. It’s currently forming a large bearish flag on the 1hr, which if broken down will likely cause bitcoin to drop to the 28740 level and most likely break through it and break down through supports towards the 16-24k price range. But could...

mattpowell

Bitcoins major trendline broke as predicted on the weekly open. Now a bear flag has formed and will mostly likely break down in the next daily candle.

mattpowell

For the past 3 days bitcoin has been travelling along the major trendline and as the weekly candle comes to a close we could see a LOT of blood next week.

mattpowell

Made a previous post about this but as you can see it managed to stay in the formation with a false break, you can tell obviously as it went back to it’s trend but also as there was a lack of volume. However, we shall see is this massive bearish pennant breaks downwards.