Spy500: Elliot wave. Zoom out. Bigger correction incoming Studied Elliot wave theory only for about 2 years. Any input appreciated.
Is anyone seeing this?
IMO, I believe we could hit wave 5 of 3 hit the 4.236 fib and then big correction incoming.
If fed continues to raise hike, war escalates, hyperinflation, etc - I believe we may have already complete this wave and we could be just on the BRINK of a much bigger bear market. In which case, further pain must happen and spy could go as low as 215.
Bearmarket
The Crypto Bears are still clearly in controlTraders,
The crypto bears are still very clearly in control of our market. In this video, I recap the weekly crypto market price action and explain the case for the bears. Bulls have yet to prove themselves with a conquering of that $30k price resistance area. A retest of our neckline at 25,200 (Bitcoin) can still be expected at this point.
Stew
#Bitcoin bear market Bottom 2022if we go back by time between bottoms and top and halving this is what we got if you know what i mean!! µ
we are already in the final first half of the bear market, and i think now we are in the seconde (last half)
the same time of the last bear mrket the bitcoin Dominance was at the same levels i expect big pumpto 60/70% on the dominance and big dump on the Bitcoin price ... im already in accumulation phase right now already invest 10% of my wallet, lets get the party start.
BTC to 25k or 30k I have my support lv in to see what direction BTC will go, will we dip to 25k or pump to 30k 35k? Time will tell and it looks like it's heading down, but this could be a fake move. Smart money waist for it and yet scared money can't make profits sitting stable. I am going to wait to see what support holds or fails. God speed.
GBPUSD Bearish Outlook?Last week, the GBPUSD pair consolidated, ranging between 1.23757 and 1.23532, with no significant changes to shift our bias. Technical analysis indicates a bearish outlook for the upcoming week, as the cable struggles to maintain its bullish momentum. The 20-day EMA acts as support for now, but its strength remains questionable.
On the 4-hour and 1-hour timeframes, the GBPUSD shows potential bearish signs. The MACD is below the zero line, and divergence from last week's analysis is still valid. The pair may break support and trade bearish unless critical resistance levels on the daily and 1-hour timeframes hold.
Fundamental factors also play a role in the GBPUSD forecast. While there is no significant GBP news, several high-impact USD events may cause volatility. Key events include CB Consumer Confidence, New Home Sales, Core Durable Goods Orders, Advance GDP, Unemployment Claims, and Core PCE Price Index.
In conclusion, the GBPUSD forecast for the coming week is bearish, with technical and fundamental factors contributing to potential downward movement. Traders should monitor key events and employ proper risk management while navigating the forex market.
Please hit the boost and follow for updates in the coming week. Thanks for doing just that!
Bitcoin under Bearish Falling Wedge #Bitcoin 4hr #TA at #Binance
Bitcoin April month movements majority into 30k to 29k and at present it starts trends into #Bearish #FallingWedge Pattern and Soon April-May-June will be under #BearishZone pattern likewise of those patternic nos....
31 30 28 30 27 25 26 24 21 19 17
Also, Some Dangerous No's...
16 15 13 12 11 10 9 7...
🙏🐦🙏
BTC 1h Inverse Cup and Handle breaking last month's VPVR POCInversed Cup and Handle is a very strong bearish reversal pattern. I should have noticed earlier, but I do my own analysis and was looking for something else while this cup was being spilled in my lap.
Why am I posting this late, then?
Well, there is one crucial thing left on this chart. And that is that this pattern has a target price target of 27600, which is below the POC (Point Of Control) on VPVR in the last month, and it is currently retesting it after a breakout.
VPVR POC shows the line of the most significant volume per price level based on the candles shown on the chart at any given moment, which means that it is the most substantial S/R level in this indicator. And as you can see, there is quite a gap below 28k.
So if this pattern breaks POC without significant volume from the bulls, we could retest the 25k level, where the next serious resistance is.
BTC - A bigger move is around the corner! Here's a quick look at the BTC 2 hr. chart. As we can see, the price has formed a diamond pattern, and a break, either way, will happen soon!
It is important to note that there exist significant unfilled CME- and Fair value gaps situated below the current price. As a general trend, these gaps are known to be filled eventually. Thus, it would be reasonable to anticipate a price retracement to those levels. It is worth mentioning, however, that such gaps may take an extended period to be filled, though in most cases, they are filled relatively promptly.
Also, the current volume is very low, indicating that a more significant move is coming!
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Key Dates to Watch in March:
30 Mar: GDP Report
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What's a Fair Value Gap?:
A fair value gap is the difference between a financial instrument's theoretical value and market value, such as a derivative or security. It can indicate a misprizing opportunity for traders to profit by buying or selling at the misprized level. In other words, there is a gap in the price in which some open orders still need to be filled. The price will return to fill the orders.
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BTC dictates the market. If BTC falls, then Alts will drop as well. Trade safe!
Bitcoin market cycles leading into 2025Here it is crypto fam. Here we have the market cycles for Bitcoin and in color. We begin with the year of the bull run then we have the bearmarket year then the year that no one likes which is the year of Pain. After pain we have the famous and most anticipated Bitcoin halving year then the most exciting time in crypto is the Bullrun year. We have had three of these cycles already and the fourth is coming upon us soon. Before we have fun though we will be going through the year of Pain this year because even though Bitcoin is climbimg beautifully now we are expecting another test to the bottom which we call Pain. The year of the halving in 2024 will be a great time to buy up your favorite projects and then when 2025 comes we have a beautiful Christmas.
US30 POSSIBLE PEAK PART 3SL 34200
Entry: 34100 (us30 could return to that price before moving lower)
This space for me remind me of the peak back in January 2022, a great opportunity to place a sell. Not advice. I’d like to hold this trade over a long period, but will use this trade as a marker. Will continue to analyze scalps and day trades moving forward
SPY: IT'S OVERHistory is proving to be accurate once again (so far), and there is no stopping it
SPY is going to blast off toward 500 and leave every single one of your short positions in the dust.
The 3 week MACD candle closing green is just the beginning.
With the federal reserve poised to pause and soon cut interest rates on the back of inflation dropping like a stone, the economy is set for success.
Do not even get me started on the strengthening RSI.
SPY is going to soar to new all time highs
Do not be on the wrong side of history
BTC 15m Head and Shoulders and 1H Double Top on the Trend WavesWe can use candle patterns on the oscillators too. On 1h my waves oscillator, we have a double top, ideally rejected from the 70 lines, and it broke down the neckline.
A pullback in strength could go below a zero line. In that case, aggression (grey wave) would be rejected in the area of -50 to -70.
The head and shoulders pattern formed on a 15m timeframe, and it retests the neckline at the moment of writing this, with a possible drop to 30300 right through the hole on VPVR on the right.
Again, the fact that I remain bearish should not change the fact that trading against the trend is a big NO-NO.
BTC Weekly Bearish Volume divergenceThis is very simple observation so I will not get too much into it, because chart speaks for itself.
The fact I remain bearish doesn't mean I don't trade along the current trend. I'm saying that despite everyone on social media yelling bull run, I see bulls, but they are not running.
BTC - Head & Shoulders pattern forming! Upon observation of the price chart, it appears that a head and shoulders formation has materialized, indicating the potential for a downward move if the neckline is breached. The neckline is currently positioned at 29.8k, and it is prudent to monitor this level closely in the event of a break below it, which could trigger a move down to the support zone.
(Update from the previous post!)
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Recent Altcoin trades:
ARB / USDT: 5% profit
APE / USDT: 7% profit (Still going)
DOGE / USDT: 2.3% profit
XRP / USDT: 2.4% profit
DOGE / USDT: 20% profit
XRP / USDT: 9% profit
SHIB / USDT: 3.4% profit
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About our trades:
Our success rate is notably high, with nine out of ten of our posted trade setups achieving at least their first target upon a breakout price breach. Our TradingView page serves as a testament to this claim, and we invite you to verify our results firsthand.
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With regards to ALTs:
When should you trade ALTs? Here's the level to watch:
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Follow me for daily profitable trading setups.
BTC dictates the market. If BTC falls, then Alts will drop as well. Trade safe!
🔥 BITCOIN - Bearmarket or Bullmarket ?Many people ask, especially after these recent increases, if we have entered the BULLMARKET or if we are still in the BEARMARKET.
My answer is that we still have to wait until we leave Bearmarket. The price between HKEX:23 ,000 and HKEX:40 ,000 needs to be "chopped" a bit.
After that we'll see.
CPI data on Wednesday - Expect some volatility!Here's a quick look at the 8 hr. BTC.
Quick reminder: CPI data on Wednesday! 71% is expecting a 25 bps rate hike. Be prepared for some volatility during the release of the CPI data!
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Recent Altcoin trades:
ARB / USDT: 5% profit
DOGE / USDT: 20% profit
XRP / USDT: 9% profit
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Don't turn bullish until this zone is broken!
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Trades to keep an eye on:
DOGE / USDT
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With regards to ALTs:
The Altcoin market cap is struggling to break the $620B mark. If breached, expect a surge in Altcoin activity. But remember, Altcoin performance is closely tied to BTC, so a dip in BTC price will hurt Altcoins too.
Keep an eye on the $620B mark if you're looking to trade some ALTs
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If you like the content, then make sure to comment and like the post :D
Follow me for daily profitable trading setups.
BTC dictates the market. If BTC falls, then Alts will drop as well. Trade safe!
THE Bear Market Bottom UpdateLast year on July 4th I published a timeline of the overall bear market cycle (Attached below in Related Ideas and titled "Theory 3 of 3 for SPX--MOST LIKELY"). This will provide an update on a chart that can be reflected on in the future by “playing the bars” for full veracity. The projection was made in early July when the market was trading at 3825 and the low at that point had been 3636.87. Market analysts were calling stating the bottom was in and the market will continue up beyond 4818. My analysis said otherwise. Some believe new market highs (above 4818) are near, while I know the hurt has not even happened yet. After the early summer of 2023, I still expect an overall decline to the end of 2024 or as late as the first quarter of 2025.
The end of Cycle wave A was initially projected for October 18, 2022 with a low around 3175. The actual low was 3491 on October 13. Cycle wave B was projected to top around July 18, 2023 near 4600. With updated data, I have dropped the top for Cycle wave B to 4400 and sped up the end date to mid-June 2023. Cycle wave C’s bottom was projected for March 13, 2025 around 2400. While I still have a projected bottom at 2400, this is likely to change once Cycle wave B is complete and each Primary wave inside of Cycle C completes as well. The earlier end dates for Cycles A and B have moved the final bear market bottom toward the end of 2024 at this time.
Continue to follow as we muddle through this bear market where there is always something to be gained.