BTC/ETHGonzo The Battle is real. The war of the worlds continues. There seems to be a war going on between Wally world and MS. Both know the cash crunch cannot support both worlds. Then Some Smart Guy Comes Along and Cons All The cons. Takes All the cash off market into some metaverse like world and calls it defiance. When that crashes going to be some mad dudes and some very rich dudes. That made off ; ) with all there cash. Oh it`s getting closer all the time. Guess you missed the fine print. Well we are getting closer all the time 21k is real close. Below that there is no stopping it as to how low it can go. Smart money is already out and has been for some time. Waiting on a bottom is always hard to take. See you at the bottom my hook is set ready to real in some big winnings. You see it will recover and when it does you will want to be close bye.
Bottom
Bottom vs BreakThe great thing about predicting market trends is that it's very easy.
Review my greatest predictions and I will tell you at the bottom of this idea.
One of my very first predictions was based on a 10 year S&P channel based on SPX adjusted for inflation.
The chart just bounced off the median line!
My first prediction that got noticed was bitcoin with this wyckoff pattern
Not noticed as much, this Death Cross meme turned out to be an amazing call when QE tapering would begin and how it would ultimately be the top
One of my first art/meme style charts for gamestop and the inevitable fall of markets
Another update to the bitcoin wyckoff pattern, but this time marketing the top of ST
This prediction was only really meant as a joke, turns out they never found a buyer
As madness set in the markets with SPAC carnage coming from Trump now, this chart was simple a matter of time.
The combined indexes presented an easier indicator of a bear market as they fell through the 21 week EMA and failed a retest weeks later.
The meme reversion rhetoric and talk about the fed having their hands tied was a direct indication the QE ride was coming to an end.
one of my fav charts is this how semiconductors and markets. zoom out to see how we really never got to bubble status of the dot com era, nor hit the lower channel of the housing crisis yet.
another attempt to update the bitcoin wyckoff pattern ultimately reaching SOW (Sign of Weakness)
I wasn't expecting the bond market to drop so quickly, but it did drop to 2018 levels and bounced.
The market was chopping wood on a daily basis.
I saw the sign and it opened up my eyes, I saw the sign.
This one got me banned for a few days but nailed the death cross right at Apr/May
It was only a matter of time before the weekly Ichimoku Cloud would be violated
Here I almost nailed a 5% drop down to the day.
Bravo if you made it down this far. You earned your reward!
My secret to predicting markets is in 3 words.
BUY MY BOOK
Just kidding, I don't have a book.... Yet!
I'm actually looking for something in fintech space so I won't be updating very often as I build my masterpiece, the Trendsetter 2022!
Also, check out my website and 21D GEX Moving Average. We just broke the lowest point in negative GEX 21D moving average since after 2011
I'm looking for a Bottom here OR a complete breakdown.
Only way a breakdown occurs is if prime brokers start to fall.
I often wonder if the Fed and Banks are having secret meetings to bail out the banks again or did they learn their lesson.
Very rare 'Horizontal Expanding Triangle' Elliott Waves TheoryDear readers!
This is a less common and therefore possible overlooked pattern from the Elliott Waves Theory, which i want to share with you to get an edge in the Bitcoin market before everyone else.
So we have not only the rare ‚expanding triangle‘ instead of a contracting one, to confuse traders even more we have the very rare ‚horizontal expanding‘ one.
Here is the theory behind, so you can read and learn yourself: forexbrokerslist.org
It’s all about stop-loss hunting !
This kind of Scenario will take place, when there is a lot of uncertainty in the market so i think it perfectly fits the state we're in right now.
Please Like & Share if you agree or comment if you don't.
Stay Calm and happy trading !
Cheers
Simon
Bitcoin - Finding the bottomIf this parallel channel and Elliot Wave count is correct on the monthly chart it looks like Bitcoin may have found its bottom around $25K. I'd really hate to see the price break lower as this seems like such a perfect setup to move higher soon. I continue to hold over $30K and DCA on any significant dips under $30K. I will continue to HODL Long from now until the next cycle top.
Good Luck!
BBS Out.
JPM double bottomDouble bottom with divergence on MACD, RSI and Stochastic with 61.8% Fibonacci support from the bottom of the corona crash. Compared to the index finances are looking a lot better with JPMorgan Chase & Co. and Citigroup leading the way. Breakout of falling Wedge pattern shows a great opportunity for a Long position.
BTC 200 week MA at 24k when adjusted for monetary inflationWhen BTC is divided by the m2 money supply, we can see that current "REAL BTC" prices are not as far off from the 200 and 300 week MAs as it appears on the standard BTC/USD chart.
The drastic increase in the money supply has made a significant difference in how far off REAL BTC prices are from the 200 and the 300 week MAs as compared to previous market cycle bottoms.
This suggests that the true market cycle bottom may be higher than expected when basing it off the 200 and 300 weeks MAs. With the REAL 200 week MA currently at 24k USD, and the REAL 300 week MA currently at 18k USD. As opposed to 22k and and 16k respectively on the standard BTC/USD chart.
Bitcoin bottom projection from 82% from projected topThis bitcoin cycle is a combination of the last 2 cycles but didn't hit the projected peak. Bitcoin dropped 86% and 84% in the last 2 cycles. The projection is bitcoin will fall 82% this cycle but not from the peak but from the projected peak of between 100,000 and 135,000. Bitcoin will bottom at worst between 23,500 and 18,500 not considering a Covid-19 black swan event.
BTC Bear Bottom CheatsheetFirstly, apologies for the size of the chart - I had to fit in 3 cycles, so the size is a little small. Also, ignore all Fib levels above the 1. I forgot to remove them.
The chart in itself is very simple, and as close to a cheat-sheet as you are likely to find, in my opinion.
I have used 3 indicators to produce this chart:
1. Fibonacci Retracements
2. 200 Week Moving Average
3. RSI
If we look at the past two BTC bear markets, the 2013-2015 cycle, and the 2017-2019 cycle, we can see 3 things:
1. The -0.5 Fib level, with the cycle top as the 1 and the mid-cycle bottom as the 0, is the bear market bottom.
2. Although the bottom may wick below it, reaching the -0.5 Fib, the 200 Week MA is the support line, and the wick below it will be very brief, and it will return above it as support almost immediately.
3. When the RSI touches the Oversold line on the Weekly timeframe, it correlates with the two indicators above, and indicates a bottom for the bear market.
So, looking at all that, where are we now?
Well, almost there, is where. We don't have far to go. IF we wick down to the -0.5 Fib, before bouncing back and holding the 200 Weekly MA, we're looking at ~$19,000 bottom. If we don't wick down and hold the 200, we're looking at ~$22k-$24k bottom.
Remember, anything can happen in crypto - black swan and unforeseen events, but this is as good as predicting the future as I can do. :)
PS - This is not financial advice. ;)
SAND - Falling Wedge bullish pattern?💎Throughout this year SAND has been trending down, but perhaps this was only a corrective pattern of a major bullish trend?
💎The pattern, started back in November 2021, is identical to a Falling Wedge pattern, which most of is bullish. Wave five could be ending any time, and once completed, we are likely to see a price rally. Still, Paradise Team is waiting for a few more confirmations .................
AUDUSD Positive Divergence DailyPostive divergence on the daily time frame for AUD and NZD against the USD suggest that there is
a trend change in progress. We have sufficient evidence to support this in looking at other
"risk on" assets such as the SnP500 and the Nasdaq as their monthly oscillators are oversold
and trying to generate a buy signal. These two hypothesis combined gives us enough evidence
that the markets have likely bottomed for now. The daily divergence is to be respected as it can
lead to strong moves lasting up to several weeks in trend continuation.
Is the bottom in?Good morning traders,
As expected, Bitcoin went to the 25k - 26k area. An important price point that was on the horizon for a very long time.
There's a strong case to be made that this is the bottom, or at least, A bottom:
- Historically, only once BTC went and stayed below the 200 weekly ma;
- the week S1 pivot is also a historical strong support;
- last week candle volume is the biggest in a year;
Is this the bottom of BTC ?2022 have been a bad year for BTC. for now I see it as the last chance for buyers to stand up. Price of BTC has been breaking all major support almost, all the market are bloody red. however I think BTC can start an up movement in one condition which is a weekly close above the blue channel and last week close turn as fake. only after that we may see some positive signal for the market. if the price close two weekly candle below the channel that mean we are going for a new low. after the weekly close we will post an update, My advise for now "DO NOT TRADE AT ALL" wait for the weekly close.
Close but no Cigar for Chainlink!!Looks to good to be true, but this is just another failed attempt to try and break resistance @ $11.50. If and when it fails we will see $9 inevitably. But on the upside that would be our final destination. Good luck! Just my opinion
BTC - which phaseBased on the history of BTC, we should have just completed the correction phase, which does not imply that we have found a Bottom.
Furthermore, based on the proportion of the red candle and the "recovery" period (usually characterized by a bounce and double low, then bounces and closes above the last low), the real "recovery" of BTC will take place around as at 30/11/2023.
For the moment I expect nothing more than a Bottom towards 18K.
XRP BOTTOM?As far as I know, no one saw that previous crash coming thanks to Terra Luna. However XRP has reached the bottom of my triangle that I had already previously drawn out, I do believe that 0.33 cents will be XRPs bottom! Congrats if you didn't freak out and held strong through the crash, best of luck to you all.
BUY ZONE IS ALMOST HERE Ups and downs could be pretty huge and dramatic, but if we look at them from the bigger perspective, they aren't that important. BTC has been slowly moving down thru these MA lines just by going sideways. And as we can see good buy zone was always between 1st and 2nd line (for the long term of course). The best buy zone would be below the 1st line. Will we get there? I dont know and nobody does, but it would not be a bad idea start to DCA, when the weekly candle close below the 2nd line.
Maybe you can catch the bottom and go all in, but safer would be slowly buy into your favorite coins, while btc would be consolidate between 1st and 2nd zone. Or I am wrong?