Bottom
#BTC #bitcoin 28-30K is coming ? Magic indicator bullish cross !I'm watching weekly timeframe. People who are compare 2018-2019 bear market with the current one, I would like to tell, 2022 bear market is more similar and identical to 2015 than 2018-2019.
As you noticed in 2015 the same descending broadening wedge broke out then dump? So more likely BTC will pump to 28-30K by the end of the year and dump again but not lower than June 2022 low/17.5K/ Bcz it is the bottom of this bear market as I posted earlier in my previous analyses. BTW on the published chart you can see bullish cross of the magic indicator which happened only 3 times bellow 0 in BTC whole history and marked bull run start.
You can check my other analyses which proves BTC has already bottomed bellow on the link to related ideas.
Bitcoin gets the "all clear" from VIX and Dollar dump!So, I've been pretty clear that disinflationary data has been coming in hot and heavy, and that at some point, the fed will have to reconsider its current extremely hawkish strategy, pivot, and become more dovish. QT will become QE.
Inflation has topped.
The dollar has topped.
The VIX will drop.
The markets will pop.
For one last blowoff top.
Somebody bust that rhyme for me!
Most of the above appear to be taking place. Now we wait for the Fed to pivot and the blowoff top to come to fruition.
In the meantime, let us take a look at Bitcoin from a technical perspective. Triangles, triangles, triangles.
You will observe that after breaking out of our year-long descending wedge, the price action remained underwhelming, as it has since June. From a technical standpoint, there are two big reasons for this:
#1 - Since June (with the exception of a few weeks) we have remained rangebound between $18,700 and $22,000.
#2 - We hit a resistance trendline (BLACK descending TL) that also started in June AND formed the topside of another triangle we existed inside of since the beginning of September. Now, many traders were claiming this triangle was bearish with a probability ratio of 54/46 to the downside. Typically, this might be the case. My objection to this statistic became that this particular triangle poked through our RED resistance zone (now support) and outside of the year-long descending wedge; therefore, I was bullish this triangle instead of bearish.
Fast forward to today. BTC has, in fact, broken to the upside and the target appears to be that descending 200 day ma.
Now, if you are a follower of mine, you'll know that I entered a 5x long position at $18,300. I've adjusted my SL once to $18,500 putting me quickly in the green for this trade even with my SL triggered. I will now be moving this up again to our critical support area of $18,700. Should we remain above our 50 day ma tomorrow (RSI must also cooperate - see chart), I will move it yet again to around the $19,200 level.
Congrats to those of you who are following me in this trade!
Stew
S&P500 Going down another 40% - Market Bottom in May 2023In conjunction with my previous Dow Jones analysis (Link to it down below), we foresee another 40% drop in S&P500 until mid-2023.
The analysis done on these charts is based on old repeated market cycles that were last seen during the market crash of 2008.
As you can see clearly on the charts, the market has been playing the exact scenario of 2008, since March of 2022!
It's fascinating how similar markets are working their way, and people don't seem to notice at all...
There is a verse of the bible that W.D.Gann used a lot in his books which says: "What has been will be again, what has been done will be done again; there is nothing new under the sun." Always keep this in mind when you are reading the market.
This bottom is due to an obvious multiyear support...It is tricky to say if it is "THE" bottom.
And it is easy to imagine lower bottom, which would better suit to the actual bleak economy forecasts.
Btw I am not gonna take any decision based on these soles charts.
I need much more data...
It is an update of my last post:
WYCKOFF DISTRIBUITIONThats Possibility by first analysis because almost trading range or structure not complete
.In small timeframe can be ACCUMULATION to make "UPTHRUST ACTION DISTRIBUITION".The smart traders take this advantage to absorb liquidity from weak hand to strong hand . Possible this is the last RESISTANCE and Gold will be to the bottom 1400.00USD .
bottom of Bitcoinhi guys
so after to take lot time to analysis the second price of bitcoin is 14900$ it will trade some month bettwen 14900$ and 18100$
but the really bottom of bitcoin 10300$ by fibonacci . if you're see this analysis you're lucky.
please don't forget to support us by like and share
Catching the BOTTOM for altcoins? NO!If you are trying to catch the bottom for a top movers from 2021 bull market and you´re dollar cost averaging all the way down, it may be not as good idea as it seems to be.
Catching the absolute bottom is very hard and not many persons can do it.
Most likely you will have to wait many months until you will be at the break even or you will make profit.
Altcoins after dropping 90 % from the all time high can still drop another 90 %!
In this analysis, we are going to have a look at BITCOIN CASH and NEO that were top movers in 2017 bull market and Solana which was a top gainer in 2021 bull market.
Bitcoin cash:
- If investors were trying to catch the bottom when BCH dropped 77 % from its ATH, they were down 92 % when BCH found its real bottom.
- It took 48 months until investors were at the break even
- The price never reached ATH from 2017 again.
As we can see, NEO which was another top mover in 2017 didn´t reach its previous ath in 2021 bull market:
More examples? XRP, XLM, DASH, IOTA
SOLANA (just an example. We have nothing against the project or its team):
Do you think that Solana will be different? Maybe? Ok. It did very well in 2021 and most likely, it won´t do super good in the next bull market in 2023 or 2024! Why? Because there will be many new coins with a new hype and without bag holders.
Conclusion:
- Dollar cost average into Bitcoin instead of your favourite altcoins.
If you want to DCA into altcoins, don´t throw all your money in as your favourite altcoins can drop always another 90 % and nobody knows how much they will recover!
- Waiting for new coins without bag holders may be not bad idea
- Bitcoins is a safe bet!
- Altcoins = high risk
Feel free to share your opinion in the comment section!
BTC bottom range based RSI indicator, 24-period based on highsINDEX:BTCUSD
RSI is a trend indicator...
Based on the RSI period 24 based on the high of each candle, being oversold at 30 and overbought at 90, we have incredible results in anticipating bull runs, and always buying in the bottom range, As well as taking the operation to optimal sales values
In 2017, the sale indication was at the exact top, in 2020/2021, on the other hand, the sale was well anticipated, but still very profitable, but the repurchase came at much better values than the sale is soon a success.
ETH/USD: Potential long position to $1,500 USDIn Daily timeframe, Ethereum look that the price it's into this consolidation, but I see in the candlestick analysis that the price forming a series of bullish pattern, and most recently the bullish hammer with a large wick of bullish rejection, indicating that bulls are interesting to lead the price to the upside.
So, our next target to trade will be like $1,500 USD as maximum to watch and study where's our support and resistance key in this chart.
So guys, I hope that this analsyis support you if you want to trade Ethereum.
Good luck!!!
I will check in H4 timeframe to know and make another analysis.
A little Elliot Wave Fun - are you ready for what's next?If you are like me, thinking the US markets will act as a safe haven for global capital, then you should clearly see the upside potential if these recent lows hold.
If not, then you are seeing the downside risks as more likely - and will want to understand the price structure in place that may prompt some consolidation.
IMO, we are amid a Wave 4 correction.
Any Wave 4 correction MAY turn into a new price wave structure (ending an ABC wave and starting a new price wave). So, the reality of the current global market trend is...
If my analysis is correct, we must rally to new all-time highs. For this to happen, a broad shift in investor sentiment needs to take place.
If my analysis is incorrect (related to this being a bottom for the US markets, then we would be anticipating a broad global crisis event related to debts/inflation and other emergencies.
I think the US Fed will move to a more moderate rate adjustment schedule while the global central banks deal with credit/debt issues. It does no good to crash the markets to stop inflation.
Just like in the 70s & 80s, inflation will weaken as rates stay elevated. It is just a matter of TIME and POLICY.
Capital WILL seek out the best investment vehicle in the future. I believe that will be the USD and US ASSETS.
What are your thoughts?
Do you get a feel what market we're in now by a quick look?One of the key things for EMAflow is providing big picture analytical tools they are uniquely designed and highly visual its not about the numbers most of the time - its all about the vibe and feel - heatmap feature will produce nicely glowing colors depending the state of the candle which when zoomed out creates a glowing vibe what type of candles dominate.
Blue are extreme moves - topping , bottoming or in the middle of extreme price rally and they are to be read with emaflow bands as they add the full picture.
Green is a sign of a upside - but be careful it usually appears as the price starts to stall... so if the green glowing are not moving uppish - and are more horisontal this could also mean that where it glows is the support which if broken beraks the current trend.
Red marks a sign of the downside - again if horisontal it marks a key resistance that if broken likely changes the narrative. Red glowing while moving down is a bear market - but pay attention on the large green arrows up as they are the bottom signals which are worth evaluating as r:r is substantial.
Other icons also play a role and help add to the whole picture:
Small green arrows up - appear when its buy the dip time - the trend is strong and this is where you can add to the position as long as it appears above the support lines.
Large red arrow down - these appear when blue glowing candle becomes even moer extreme and could potentially signal a top - but be careful if emaflow bands highly bullish its more of a take profit move stoploss reminder instead of selling or opening short.
Red arrow down can also signal that a dip is coming.. check historically how it is and how things are postiioned best.
Transparent arrows red and green - signal bullish and bearish divergence - they only appear as divergence is confimed so the next candle but while it may look late many times its just a sign what will come in the next few candles - top blue glowing pattern after a red transparent arrow down could be stronger sign of a potential retest - also if strong trend - you can count 2-4 of these in combo before you utake action you can also take these as reminder to move sl and so on.
There are few more combos that are useful here but lets leave it secret for now - if you'd like to get your trading upgraded with the slickest combo of uniquely created indicators called EMAflow - please check the link in signature .
Best regards!
Possible change of market direction ...Hello traders,
my chart is correctly shown as "neutral" because nobody knows what´s coming next and ... it´s crypto :-D
But the signs are really good in my view.
Check my chart, follow the lines and ask yourself also.
In a smaller timespawn there could be a trend reversal from a bear to a bull market!
If we get a candle close over the big blue support line, the signs are even better for us!
Feel free to post your opinion under my chart and if you find this could be a good idea, you can like my "arts" :-D
Off-topic: What do you think of this shirt, maybe the time is already now!
www.redbubble.com
Head & Shoulders top on USO/SPX?The Covid Crash was like a reset on all assets and ever since, AMEX:USO has been outperforming the SP:SPX .
The ratio peaked on mid-June and it looks like is actullay forming a head & shoulders top.
This is bullish for stocks as I think the indexes already bottomed (in mid-June). But remeber, is not confirmed until the breakout on the neckline happens.