BTC continues to show weakness in the descending channel it entered late last year. Markdown pricing in the face of year long lower volume with no significant relief rallies or reversal potential. Price movement within $3k ranges ultimately breaking down further. Bear flag looks like PT bottoming sub $20k with wicks down to approx $14k. Potential to go lower...
Taking the last 4 major corrections since 2000 averages for both % decline and length to recover to previous level gives a benchmark to consider relative to the current situation. - % decline 39.38% - length of time to recover 1,172 days So $NYA on average well bottom around 10.8k and recover mid-March 2025 Aligning relatively close to the current 200 EMA while...
Bitcoin has recently slowed its historic weekly consecutive decline, testing last summer's support low @ $31.7k. While BTC may find daily support in near-term at this level, closing daily candles above and building into weekly support level would be the beginning of a reversal against the broader markets' risk-off backdrop. Bitcoin remains firmly within a...
BTC Triple Top Pattern w/ break below pullback lows week of 2 May. ** Pattern complete, fully into mark-down/declining phase ** Longing here = high risk, rallies have high failure probability. Wait for accumulation trend to clearly develop before entering long. Useful reversal signal on Weekly TF would be MA6 crossing above EMA18 along with OBV reflecting...
Since summer of 2021, DXY has gained strength and momentum as the broader global economy has begun to face tremendous uncertainty coupled with rampant inflation from unfettered stimulus and "quantitative easing" that began following the housing market collapse ~15 years ago. Articles were written that inflation is dead while the Federal Reserve propped up...
Bitcoin descending channel forming a bear pennant, breakdown to sub $20k remains likely. Options expiry end of May coincides with bear pennant culmination point. Looking for BTC to reach 200 EMA prior to reversal and starting accumulation phase in preparation for next bull cycle.
2 Week Chart The previous 2 Bitcoin cycles behaved similarly, providing a reasonable trend to consider how BTC price action will behave. The previous two cycles retraced 86% & 84% closing at/below the 100 EMA, creating a bear trap. PA reversed w/ relief rallies establishing lower highs and proverbial bull traps or "dead cat bounces" into a final leg down. PA...
$TNX has broken out of its long-standing 35 year descending channel, first time breaking out above 50 EMA and pushinf towards 100 EMA since 1994. The descending channel includes both the dot.com and housing bubbles without breaking above the 50 EMA. Given add'l rate hikes on the table and bloated CB balance sheets, extreme supply of money in the markets,...
The S&P is entering bear market "correction" territory as it's retraced ~20% from ATH with 6 red consecutive weeks under its belt now. Currently facing resistance on weekly with a rejection at the 100 EMA, economy experiencing widespread macro headwinds, & a Federal Reserve looking to reestablish credibility as Q1 laid the foundation for calling a recession this...
Bitcoin's correction has been swift, breaking down cleanly through $30k and finding support ~$27k. Strong rejection on 6hr chart at 20 EMA (approx $31k) Expecting some sideways action and retest of that support given the rapid connection of the crypto total market cap and broader economic headwinds. CPI (consumer inflation) remains extremely high, it fell...
Bitcoin currently below last summers local support lows. $28k-$30k not even close to looking like support as BTC mark-down dips below $28k. Support between $19.1k & $13.8k in range, lowest support level >50% from current $27.6k price when looking at monthly chart. VWMA 7 currently crossing below 100 EMA on weekly, while MA6 crossing below MA18 on monthly chart.
Palantir $PLTR earnings came in significantly below expectations, missing by >44.5% while revenue was slightly above projection, beating estimates by nearly $3 mil (+0.66%). The market immediately reacted with PLTR losing > -27%. Risk-off environment. Unprofitable, risk-on tech-oriented speculative equities are being punished in a tightening fiscal...
Trend continuatuation, aligned with idea posted Apr 6th, on track. 11.8k in range on march towards 9.8k by July as Fed continues hawkish tone.
Crypto has taken a beating, risk-off markets are driving speculative assets & equities down. Current trend reflects bearish continuation, with MA6 rejected cleanly off EMA18. Looking at long-term channel with current trend, total crypto mcap to sub $1 Trillion is possible... settling between $950B & $975B early July. Fed will get a few rate hikes of 50 bps in,...
Noisy chart, but that what the "hide indicators/drawings" switch is for. Reference for me to revisit down the road more than anything... interesting details as the 7 VWMA crosses below the 200 EMA for first time since March 2020. - 96-day periods - Price in $3k increments - OBV on 1-day & 3-day charts w/ trend-line intersections - MA's & Reversion
S&P 500 has had a tough go in Q1 2022 and looks to continue it's correction given the broader macro-environment and economic headwinds. Upside opportunity if a market correction similar to the black swan event in March of 2020 would be greater than 1,000%... even a smaller correction as the Fed tightens in the short-term has potential to deliver phenomenal...
The head and shoulders on weekly only played out about halfway in January. Market sentiment and narrative are one thing, the $GBTC price is another. Here's to watching what's being done to get ahead of price action... and to not listening to what's being due to message latency.
BTC price action with the removal of time via Renko indicates a clear culmination point is in play... as BTC hits the lower end of a long-term ascending parallel channel. Reversal or bounce is likely based on support trend-line, key distinction being the macro headwinds the markets are facing from the economy. Useful chart view to gain another perspective.