Crypto Market Cap, BTC/USD, ETH/USD, USDT/USD, XRP/USD, Bitcoin
Apple, Advanced Micro Devices Inc, Amazon Com Inc, TESLA INC, NETFLIX INC, Facebook Inc
S&P 500, Nasdaq 100, Dow 30, Russell 2000, U.S. Dollar Index, Bitcoin Index
US 10Y, Euro Bund, Germany 10Y, Japan 10Y Yield, UK 10Y, India 10Y
I've been using this chart to "time" COINBASE:BTCUSD 's movements for a while. Figured I'd post for those interested. I've drawn out a projection of it's potential path till the middle of 2018. Yes, they are INSANE!
I added an extra line to the topside of the chart and yes, it's at that point where I fear what might happen.
This chart is based purely on technicals from the crash in '87. I'm amazed how consistently markets "mean revert". With no consideration of fundamentals, I think the over extension is happening because of the over correction in '08. No matter how you look at it though, the next crash will be bad regardless of when it happens.
People like to focus on the S&P but it seems to me like we're heading for a move similar to August 2015, but who am I to tell the future. Your insights and analysis are welcome :-)
Everybody else looks at the S&P 500 and the DOW, but I like the Russell 2K. Here are the short term support and resistance levels I've been using. By the way. While those "other indices" made new highs, the Russell 2K never did. 2015 was it's peak.