10K incoming and bears are in controlBitcoin still under 20K this is not good. In order the bulls to stay intact is bitcoin need to stay above 21K and higher.. 20K and lower will keep the bears intact and fully controlled.
What surprised me was Joe Biden warned us that he send a stark to bitcoin and other cryptos after this $2 Trillion dollar Crash. So here what’s going to happen if bitcoin stayed 19K area we are still in a downtrend back drop to 17,600 area and make a short retrace .. if that didn’t happen and that major support breaks then most see down to 10K or maybe 12K
The theory possible bottom is 9960 area
The most likely bottom is around 12500 area or down to 10200 area. Those big 3 has stronger support floors to help the bulls intact for control. Officially we are still in Crypto Winter.. in order for it to be over this is what the Feds should do.. reduce the inflation and the high rate hikes.
Crash!!!!!
It's not looking good!Last week saw price tagging the monthly pivot and immediately selling off to form what appears to be another head and shoulders continuation pattern (complementing the currently active much bigger one). At this point the 10k short target is starting to look more and more likely. Concerning interim price action it is possible that we will still see a small bounce to around 12600 but while price remains below the right shoulder @ 12900 the HnS pattern and target will remain valid. The current HnS neckline and drop off point seems to be coinciding with the monthly S2 @ 11750
MTGOX DEADLINE EVENTThis is the huge event for Bitcoin and other cryptos but mostly this is the big day for bitcoin.
MtGox is going to release 137,000 that’s worth over 3 billion of bitcoin. It’s going to take months to process and complete it, the big dump should be expecting soon while correcting the drop.
It’s going to be pretty volatile but becareful.
More events are coming on the 21st of the hike decision making following along on the 22nd the ADA Hardfork event.
If buy reversal ever come out of nowhere please becareful of the the huge spike down comes if happens then the buy around 10K maybe 12k we are already in range for the drop meltdown like the plane crash. We are still In crypto winter and bear market it’s far to soon To say it’s over and we are now bullish.. no we aren’t yet please do not jinx it yet.
10K has stronger bottom floors, 17,600 is NOT the bottom.
NASDAQ TARGET 11541!!, MARK IT. i have made a detailed analysis, that why Nasdaq is falling, and based on different corrections, bear markets and from various crashes, i have made the support and resistance, which determines the supply zone. finally, the markets will not face any crash such, the Nasdaq is just falling because of the hike of interest rates, thats much. people and institutions are moving out from the markets, making the index to get corrected, and this selling pressure, is basically preventing from a huge crash(when the government will such announce hike in interest rates, in some future, just to correct the markets that far).
so analytically, this selling pressure, is making the index to correct itself and preventing it from going in crash.
BTCUSDT NEXT DIRECTION, CRASH OR PUMP?1D BTCUSDT,
Bigger picture: Bitcoin has formed a descending triangle, inside of it we could also notice that we have got an inverse head and shoulders pattern. On the small timeframe we could notice that on the last 8 days we have formed an Eliott wave corrective pattern, expecting our (A) corrective phase to end here at the demand zone of (Point of control) for this whole period since we tested the bottom. Which will take the price back up to the (B) Phase where we should be testing the CC Level (0.618 Fib) of the drop, testing that level cannot be promised tho, the pullback could be weak. But what I know is that our (C) Phase is going to end up around 19500.
Let the market generate more information for us before we take any actions, stay safe brothers! We will keep you updated.
CPI DATA EVENT.. CRASHINGThe inflation rates came higher than expected from the feds and everything is going to crash. This is completely unexpected and I knew this was going to happen.. the merge for Ethereum is coming as well will be crashing more as well. Along with MtGox deadline .. please pay attention to the dates and please wait for the bottom of the fed pivot to be expected DO NOT BUY ANYTHING YET
PAY ATTENTION TO THESE BIG EVENTS AND I REPEAT CODE RED
September 13th: CPI DATA
September 15th: ETH merge
September 16th: MtGox Deadline
September 21st: FOMC HIKE DECISION
September 22nd: ADA Fasil Hardfork
EGLDUSDT Bearish Cancelling EGLDUSDT long, this is what I call beartrap, they are forming a falling wedge on the 4hours timeframe and trying to make us forget that we recently have broke below a bullish flag, many people will try to long here meanwhile they are taking us to the double TOP on the retest of the breakout. We warned you first! ;)
TOTAL2 vs BTC.D - Signs Of Potential Alt Season To Come When you compare Total Altcoin market cap (Crypto market cap excluding BTC) side by side, you can see that when BTC dominance (BTC.D) falls is usually when alt season happens. When BTC.D goes sideways, altcoins tent to do the same or even consolidate for a while, like we've seen for the last year or so.
An a chart altseasn is marked in green, consolidation/sideways movement in yellow and in blue is when crypto winter comes.
After BTC topped in Dec. 2017, BTC dominance continued to fall as BTC went into a retracement. Altcoins continued to rally into this moment. After that The whole market crashed and BTC dominance rose significant. This is a typical sign of bear market. This time is a bit different. After BTC made first ATH in 2021 and had its first major selloff, BTC dominance started to go sideways while altcoin market cap (TOTAL2) capitulated. BTC dominance than actually continued to go sideways even after whole marked crashed which does show a sign that the bull market, at least for the altcoins is not over. If it would be over, BTC dominance would have to be rising right now a lot, but it doesn't. Instead it is looking like it will continue to crash, which is a very good sign for altcoins. Remember that time is irrelevant here as no one knows for how long and when things will play out.
I am very positive that it will come while BTC will slowly be rising into a retracement.
DISCLAMER:
I am not a financial advisor so non of this should be taken as a financial advise. Be well.
Big dump/MtGox Crash coming …..We all know the huge event is coming in 5 DAYS, The MtGox is ahead of us already had been; to remove 137,000 that is worth 3 billion.
Bitcoin had been through of this biggest challenge yet.. even tho capitulation means that investors surrender to the investors that means they will sell everything until bitcoin hits the bottom. So y’all know what hat to know and know what to know until the event hits please buy around 12-10K area. Be ready and keep an eye! Don’t miss this lifetime opportunity
NIFTY/S&P ratio and what NIFTY did before!Long term view is bearish!
Key points to note -
1. Ongoing Russia - Ukraine war!
2. Highest Inflation after 40 years in most part of world!
3. FED expected to do QT to overcome inflation from September 2022!
4. China Taiwan war (US) tensions!
5. China Real Estate crisis!
6. Economic slowdown of Global markets!
What else required?
Gradually if corporate leaders start under performing to market estimates, and that'll be the last card to fall!
Please do like, share & subscribe!
Also do comment your views for upcoming days!
Crack in the floor, potential down to 12.5k?Bears have been reaching targets and finally breaking the low end of the floor (33k) for the first time since 2020.
I am still very bearish with a potential all the way down to 12.5k. The only major hurdle in the way is the potential 20k line (not shown as it is over 4 years ago and unknown if still relevant).
However we are at a battlegrounds line as it is - 29k. It could rebound here and enter into neutral territory. It could also just as easily rebound and crash back down further with the volatility. I personally will be staying away from Longs and the bulls until I see a more decisive flip. Even if we reach past the neutral zone, it will still take convincing as volatility in the short term would be very high.
$DXY #crash - 2001-02'Several other factors have influenced the fall of the dollar, magnifying the primary effect of the trade deficit. Firstly, the accounting scandals at Enron, Tyco, WorldCom and many other companies revealed serious weaknesses in the US reporting and regulatory system, leading to falling confidence in US stocks, bonds and other investments. Plunging values in these markets beginning in 2001, and the consequent enormous investment losses, further shook foreign investor confidence. As a result, foreign investors stopped sending a net inflow of investment funds into US markets. Instead, they began to liquidate their portfolios, causing a net funds outflow.
The sharp increase in US government budget deficits (see chart) also undermined investor confidence. After several years of government budget surpluses, the Bush administration cut taxes dramatically and increased military spending, setting off a deficit that is estimated to reach $455 billion in 2003 (up from $153 billion in 2002), making the 2003 deficit by far the largest on record. State and local governments have also run high deficits, further compounding the federal imbalances and pushing state and local debt to a historic high of over $1,400 billion in 2002 (see chart). US households have increased their debt (for houses, education and consumer spending) an unsustainable level of $8,454 billion in 2002 (see chart). An overinflated housing market destabilizes the US economy, since falling real estate prices could trigger widespread defaulting on these loans, pulling down banks and other mortgage lenders. Finally, there is the effect of Washington's unilateral global posture and its far-flung military operations, which introduce uncertainty about the future. These and other factors have combined to put powerful downward pressures on the dollar, pressures that are expected to continue well into the future.
Do NOT buy bitcoin yet ….It’s NOT OVER YET!
We are not at the bottom , but a retrace buy for a short term. Should expecting another huge fall after the retracement, expecting the buy I be eyeing on 13K or below for a lifetime buy.
137,000 ( 3 billion bitcoin worth) had been took out and we are going to see another huge fall as you saw more bear flags are forming. If you are going to buy PLEEEASE BE EXTREMELY CAREFUL..
also 200,000 jobs added in USA we are not that far for the economy crash and everything to collapse.
We are not bottom it’s far too soon. 13K-9900 is the actual bottom for bitcoin.
For people safe concern please stop saying we are in the bottom we are not in a bottom yet
Blood in every street! Stocks, Bonds, BTC, EEM, Oil, Gold, Comm
Simultaneous 2W Red Bars for all the above*. SPY is in pink so it stands out (by popular request).
This is relatively rare p= 0.028: 11 out of 387 bars since GFC
The chart shows the 11 periods with a yellow vertical line. Each asset is shown independently (upper left) as well as a horde (bottom)
Since the choice of ETF's was neither complete nor systematic, the table (top right) shows the 25 largest
ETF's (out of the 1167 in the list) as measured by 21day $Volume (shown in rightmost column)*.
Middle columns show the ETF's return over 1 day (using todays close 9/6/22) and over 5 days.
Lot's of Red.
Hope that's useful, Trade Safe.
Analysis: When the smoke clears and there is time for analysis: What happens after the 11 cases?
Qualitatively, my impression is that volatility (range) stayed high while momentum frequently changed direction (more then I expected)
Also for follow up: when do we (irrationally) expect reversal vs continuation? Positive and negative recency has been studied extensively as the "Gamblers Fallacy" and the "hot hand".
*Notes:
Stocks: $SPY
Bonds: $TLT
Oil: $USO
Commodities: $DBC
Emerging Markets: $EEM
Gold: $GLD
BTC: $BITO IS 2W red as well but is also a new ETF so was omitted from the count.
Currency (DXY) appears independently at bottom.
**Table found on etscreen.com on 9/6/22 (link appears under the table). Its purpose is educational only as specified in "Fair use" section 107 of the U.S. Copyright Act.
SHOUT OUT TO CRYPTO SAVY! AMAZON CRASH PATTERN IN BTC!I think there is a possibility that CRYPTO SAVY might nail it with his AMAZON / BTC comparison that he called out on December 2nd 2021.
Looks like it's playing out perfectly so far. I'll just add the EW count that i think this crash will be to SAVY's analysis.
I think we are in a "WXYXZ" complex correction (as shown in the chart).
I also think we will drop under the 2018 BTC low and bottom somewhere between 1.3k to 2.8k.
Let's see what happens....
Warning!!!!This count is based on my assumptions so anything can happen not a trading or financial advice just for educational purposes only kindly do your own ta thanks trade with care good luck.