Just a quickie to say that ETH like many other alts is a very un-bouncy dead cat right here. Has not moved up with Bitcoin at all. Expecting a BIG fall soon when Bitcoin reverses and I am short until next capitulation, just like last time. Look at the naked chart and see reactive baounces previously, now its just a runaway ball down a hill. Will update Bitcoin...
Having removed everything from the chart and looking at a higher time frame, it became glaringly obvious that not much has changed. I seem to have a habit of getting slightly too caught up in fractals, such as the pennant. And with the pennant set in place and completed considering that any bounce above the thrust exit of the pennant would invalidate regression...
Bitcoin has touched through invalidation, however likely it will close for the day under leaving only a wick. Its not really surprising that this area has become a struggle with many traders becoming aware that the dominant trend is probably to the downside. That said the dominant trend will remain and BTC will top in this area I think. We'll see. Not advice.
ETH has become a risk now with upside potential as BTC flirts with invalidation. Had to give back a few of those fish sadly and I have exited my position because ETH looks to be posturing up and after many 0.886's you'd probably be foolish for considering ETH wont tag it or get close to that area. It might not also its just an educated guess but i dont like to...
TOTAL has forming a rising wedge with a small blow off top. Good chance price will fall from here and with volatility similar to previous leg down. Wedge inclination also suggests this.
ETH broke the coil with BTC breaking its pennant. Again not much to say really. My previous threads say where price is likely heading from here. Next stop 1K area. See you there.
BTC fell out the pennant as I'm sure many of you are aware. Not much to say really. This could be the start of a motive wave 5 as I described in other threads. There may be a small bounce for minor wave 2, but it doesn't look like it currently. BTC looks dead and probably just a continuation pattern from here then then lower. If you have any long hero friends that...
Taking fib retracement from thrust candles shows a distinct regression ratio with price reversing on point at 0.886. If this is the local bottom and the pattern repeats, price will bounce to 38-39K.
Some of these charts are no VERY ugly and ADA is one of them, with extreme noise and volatility - its going through a death rattle with BTC getting ready to take another plunge into the abyss. Its last orders at the ADA hopium bar.
Longs have increased their buying since the start of this Wyckoff distribution top, but since collapse into Mark Down they've really been piling in to "buy the f* dip."
To draw a fractal with most touches, ETH can be seen to be in a tight coil currently. A quick browse on TV and many publishers have been showing a horizontal top to this current pattern to form an ascending triangle. Without considering volume, if that were true then this would probably be an accumulation pattern with each successive touch weakening the upper...
GOLD has rejected sharply off the 0.618 Fibonacci retracement and looks to be on the next leg down. If in a zig-zag ABC correction then price may bottom in the $1500 area towards the end of year. If price has completed a wave 2 however then price could see $1000 again perhaps around end of 2023.
Title says it all. MACD has crossed and there is no coming back from this, it is a reversal and I will be looking to buy for pennies down the road. I first called LUNA top at $17 before the crash and can you imagine received a lot of unhappy comments.
BTC death-cross looks like it will happen somewhere between the two trend-based fib time projections. Trends do not magically implode at the sight of a death cross and often price is on a bounce as they do, but it is interesting that the DC is lining up with the time fibs. I am looking to fib time to provide a more accurate projection because they are a fractional...
ADA trend has been one of the strongest as Weekly MACD shows, but don't fool yourself it is strapped to the Bitcoin Titanic and will easily lose 90% from here, much to the dismay of hodlers. Apparently it is different this time. I don't think so.
Title says it all. Weekly MACD has crossed for the first time this year. There's no coming back from this, it is a reversal and I will be looking to buy for a VERY heavy discount down the road. I first called VET top at $0.2 before the crash and can you imagine received a lot of unhappy comments.
Title says it all. MACD has crossed for the first time this year. There's no coming back from this, it is a reversal and I will be looking to buy for pennies down the road. I first called THETA top at $12 before the crash and can you imagine received a lot of unhappy comments.
Some frothy ALTs have been pushing up while BTC looks very corrective hovering around 0.618 of the previous local peak. Reasonable chance THETA will tag 0.886 from the top-to-crash-bottom before heading down. Also if recent price just printed a minute wave 2 then a 5th wave would almost exactly hit the 0.886 at $13.5. I have a small short order in this area. Not advice.