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2011

Ethereum Mirroring Bitcoin's 2011 Double BottomHi everyone! Before we get started, please hit the like button to put this idea on the top spotlight. For those who have been following our charts on Tradingview and Telegram, you know we have been offering a unique perspective on the market for quite some time. If you remember well, we were the first to point the double rising and falling wedges at the current levels on both Bitcoin and Ethereum (see link at the end of the post to related ideas that was posted a month ago for Ethereum). On this chart, you can clearly notice how we mirrored Bitcoin's Bear Market in 2011 by performing double rising (in blue) and falling (in orange) wedges on Ethereum above two support levels $180 and $102. If you look carefully at our log chart, you notice that the action through the Bear Market is roughly 85-90% similar. So what's the take away from this chart? Based on this fractal analysis, it is safe to say that: 1. Ethereum has very likely bottomed at $84-80 in this Bear Market 2. We are currently in a very long sideways range above $125 that started from February 22 until April 15 (maximum May 1st). We have delimited with a red vertical line on the chart on April 15 where most likely the shake out and double bottom will happen. 3. Sometime around April 15 to May 1, when the distribution has been completed at the $125-150 range, Ethereum will wash down in a strong shake out to $84-80. 4. That shake out will aim to get rid of all the inexperienced traders who bought near the resistance and put a proper bull reversal through a big double bottom at $84-80. 5. $84-80 is where you can look to fully buy back on Ethereum (you can mirror the buy on almost all ALTS - except the ones that have no future) 6. Meanwhile, until the sideways above $125 ends, ALTS will randomly start or seek to continue their bull run. Like this chart and follow us to get updates on this fractal analysis. It takes 1 second to show appreciation to the work put in and shared with you. Together, we can be a strong Crypto community. Don't forget to share our idea with others while referencing our work.
COINBASE:ETHUSDLong
by BitcoinGuru
11
I SPY with my little eyes...Okay, looking back the 200 Weekly MA is a pretty strong support level for the SPY. The last time such support was breached was the 2008 recession. The big question is not really if we will bounce (as we already obviously have), but if the bounce will be sustained. Overall, I think the bounce will fail around the high 250s to 260, because there is a lot of previous support turned resistance. I'm much more confident that this correction will be much greater than the 2011 one, where the SPY rallied off its 200 W MA. Again, watching this level is key. Nothing goes up and down forever, and it's important to have as little bias in reading the chart as possible. I could be wrong of course, but I still think equities are bound for a much greater correction than what we have just witnessed. I'm a strong short at 260 if price gets there.
AMEX:SPY
by mongkok
Is this Market Going to Roll like '08 or Run like '11?With the markets bouncing off its' lows and come roaring back to close the week with a gain, it has left many to wonder if this is 2008 or 2011 playing out. The argument for a continued bull market is that the market did hold the previous support of October's 2014 sell off, and put in a weekly reversal hammer. Also, the market was able to hold its' long term support line formed by the 2009 and 2011 lows. However, there are other indicators that point to continued selling later this year. The selloff in 2011 still held the 150 day moving average on the weekly chart. In this sell off, we see the market has broken the 150 day average, and remains to be below it, as it did in 2008. Another concerning indicator is the MACD. Take notice on how the MACD immediately turned up and broke its' downward trendline in 2011 to resume the bull run, where as now the MACD has begun to roll over much like in 2008. To further strengthen the case of a continued bear run, look at how the price over extended itself by breaking out of its' price channel in late 2013. From 2013 to 2015 this resistance had become support before breaking late last year. This is similar to how the market reacted towards the end of the bull run in 2006. In 2006 price overextended itself and resistance became support for the next year and a half before breaking in 2008. Finally, I would like to point out how over the previous 6 months, Utilities have been outperforming all other sectors down only 1.38%. This is a sign of investors putting their money into defensive positions. Over the same 6 months Technology, financials, healthcare, and transport sectors are down over 10% with energy down a resounding 25%. In conclusion, despite bouncing off its' long term support line, I believe the market will show a loss at the end of 2016.
SP:SPX
by Ape