BTC 67500 CAN CHANGE THE TREND TO BELOW 60k -VERY IMPORTANTThanks for reading this update.
IF btc can gain below 67500 in the coming time frames with confirmations, then is BTC able to show a huge recovery trend which could bring BTC below 60K, to 56K Target.
Even the ETF hype trend can go over as the AI, and it can become a normal trend as we don't have a hype trend for APPLE of other stocks at this moment.
If we check depending on data the volume ranges on the market, then we see an overflow volume, which could get a recovery so there will be a new chance for new smart money.
Below 67500 with confirmation is an important trend for BTC where it could return to 56K .
The following will be on trend - IS BTC going to 67500 the important strong red zone of the trend.
We use the same way as we expected the trend below 42K to 48K and ATH.
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The buy whales and position holders should do their best to hold the levels, otherwise, we are going to see in high chance of a new return to blow 60K.
Crash!!!!!
WILL BTC RETURN FOR THE 3rd TIME BACKBTC shows historical 2 backgrounds return around these zones.
Is BTC going to return for time 3?
the most wait for the ATH, but it's possible that the trend can play before.
ATH = psychologicaltarget.
Is there a possibility that ATH can come?
Yes, its possible, but same time also a high risk.
We will follow the trend for confirmations.
BTC RETURN POSSIBLITYWe have seen 2 times rejections from the trend of ATH. BTC will stay RISKY for the next correction until the trend gets confirmed up the ATH.
The ATH area will stay a risky trend for high correction which can bring BTC again below 60K.
We can speak only about healthy trends when BTC targets up ATH with confirmations and the right time frames. Until now BTC has not made this confirmation.
AFTER THE INCREASE BTC SHOULD HOLD 59600..We did Follow BTC below 42K, until the high increase as the below idea shows and we did confirm it with more positive charts.
We are checking on the low frame if there is some confirmation that can allow BTC to break down to 59.6K
We found out that 59.6 is an important level that BTC should hold, if BTC is not able to hold 59.6, it can return to the 50K Zone.
There is a trend that confirms that volume above 59300 is a FOMO volume, which could return to the start target.
This update is just a zone confirmation that BTC should hold. and we will follow with this update IF BTC is starting to make a new recovery.
Trade or manage only depending on your plan, nobody can expect the future 100%
it's all about studying the markets. and this view is still not a confirmation.
We will follow up if BTC is going to breakdown in the coming time frames.
Dow Jones in Focus: Fake Rally?Today, we're taking a closer look at the Dow Jones Index, specifically the E-Mini Dow Jones Futures. It appears we're in Wave (2), overshooting the target and forming an Expanded Flat correction. If there's a turnaround here, typical for such waves, we might see a correction somewhere between 50% and 61.8%. We consider more than 78.6% unlikely, so we're betting on a correction in the 50 to 61.8% range.
Digging deeper, we've spotted an exciting pattern: a short Wave (i), followed by a long Wave (ii), a quick Wave (iii), and a very brief Wave (iv). This sequence could lead us to either Wave (v) or a larger B wave. Should the index continue to climb, we'll need to rethink everything. Surpassing the $40,000 mark would mean we're entering a new uptrend, requiring a different analysis. For now, we're leaning more towards a downward movement than an upward one. After much consideration, we've decided to initiate a short position on the Dow Jones as a bit of a hedge. We're particularly cautious about unexpected market movements triggered by insider trades. This strategy isn't about putting all our eggs in one basket but about spreading our risk.
In short, this strategy is our insurance policy. If the market continues to rise, any loss on the short position would be offset by gains in our long trades. Conversely, if the market declines, the short trade will help minimize our losses. This balanced approach keeps us flexible and eager to see what unfolds.
Biggest crash is about to startPeople aren’t thinking straight it’s about it will go up and up and up .. no we are not those 70% of people that can’t even see reality and went all broke. Souls know when you bought; all time high hits and bull trap coming to bearish if I were you sell now or lose all you have.
Anyways now the stock big congrats hitting the new all time high but what will happen next? USA owned over $6 trillion dollars in debt and this also isn’t good for other stock markets because the inflation data won’t be pretty.. the inflation is about to go a lot higher than any other expected and the economy isn’t in great shape …
Biden gave over billions of dollars to Ukraine , not seeing his American people first and yet the border crisis which put all American people not in a safe place.
Yet now the stock lead the rally but hit the tip point.
Are we looking foward the biggest crash? In the matter of fact.. yes.
Reason as no one paid attention to the major news.. globally could start a nuclear war , many of the countries already in deflation and the recession; soon USA will head into the recession but will be a lot worse than 2008.
Don’t speak too soon because United States are in trouble and aren’t in a great shape.
We are preparing for soft landing
Microsoft Replicating 1987 SPX ChartSince Microsoft bought ChatGPT back in March 2023, the price of NASDAQ:MSFT stock has gone on to replicate the same pattern as the 1987 S&P500 stock market rally.
Does it mean anything all by itself? No. It still needs a catalyst for the drop to happen. The 1987 stock market crash had many triggers and catalysts and the drop was a sharp 40% from August 28th, 1987 to October 19th 1987.
What would cause a sharp 40% drop in NASDAQ:MSFT ? You all could type in your guess in a reply to this chart. It could come about under a variety of situations, but it would take an act of Government regulation or a major sea-change in laws or the business environment.
When you see people posting "overlays" of the market to past debacles, you will find almost NONE of them work.
Last year in January I posted a pattern where NASDAQ:TSLA was mimicking the fundamental and technical price pattern that NYSE:MCD McDonalds had from over a decade ago when it fell 75% on a rough patch for its business. It turned out to be identical and NASDAQ:TSLA rallied over 150% last year just exactly the same as happened to $MCD. I'll post the link down below for you to view.
The overlay here between NASDAQ:MSFT and the 1987 SP:SPX is pretty amazing but we have no catalysts to make it drop. Stay tuned on any weakness and look for cheap hedges (long term puts out to July-Oct-Dec for this year). Don't spend more than 1% of an account to hedge a position, but if you hedge it correctly you can protect against a large decline without much cost to a portfolio.
Here's hoping this pattern doesn't 'pan-out' because it would be or could be very disruptive to the markets.
Wishing you all health and success in the markets this year and thanks to TradingView for all of the great tools for doing research!
Cheers,
Tim
Friday, February 23, 2024 8:59PM EST
JPM, SOME UPSIDE AND A WHOLE LOTTA DOWNSIDEJPM might have a bad week?
Maybe bad Feb?
idk yet, however, from technicals, it seems like after 181 or so, and especially after $210, there isn't much upside showing.
Likely meaning, the risk far outweighs the reward at those levels.
IT could be big, and it could be fairly quick.
if you're shorting, yeah, these are great times to consider entering.
The downside shows all the way to $69 (nice)
Does that mean enter short right now this minute? nah
but be ready because things could really drop quickly in the coming month or so.
idk maybe this?
WELLS FARGO - LIKE really, how far can this stock go?Personally, I think a lot of banks are going to get hit really hard.
WFC is on an edge and it doesn't look good.
Here's the chart
price targets and trends are marked.
If this thing pumps to some of these rejection zones, I'd look to enter short.
Who knows, we might already have hit top.
The drop from current price to the targets low is around 40% and 60% or so from the high.
Dire warning by $JPM CEO - We've been saying this for some time.Good Morning Update!!!!!!!
The real #economy is NOT represented by #equities or other public investments.
NYSE:JPM CEO has been vocal on what has been happening but this is his most dire warning in some time. Personally, am shocked this gets air play.
---
#yield pumping a bit after "hotter" #inflation than expected reported.
2 things we've been saying for some time!!!!!!!
Be in #stocks but, Have Hard assets!!!
#gold #BTC #silver
Pls see our profile for more info!!!
Writing On The Wall.Where to begin. I think it's about time investors started thinking more seriously at the immensity of the financial problems sitting at the door step, and the worst part is that it isn't going away if we ignore it.
The Fed has created the largest bubble in US history. In 2008, when the banks gambled and lost, the Fed stepped in with new measures to "stop" the crisis. We all know the story.... they created a new financial tool called Quantitative Easing or QE for short, which was a bond buying, MBS, corporate bond buying spree. In addition, they slashed interest rates to 0.25%. This caused stock markets to explode upward as well.
What did they achieve?
They created a spending spree like no other. Cheap money. Loans were cheap and we saw rapid growth in loans. This cheap money hit housing, autos, commercial sector and banking sector. It was a spending spree, consumerism at its finest. You can see this rapid recovery in US Credit Impulse Index in 2010 thanks to a 0% FFR. Retail grew and discretionary spending rose. It seemed like everything was great and will always be great.
How much did it cost?
It cost the US over $9 trillion, but globally the cost of QE is north of $25 trillion.
What's the issue?
The issue is that the house of cards is collapsing, and central banks can no longer hide the inflation caused by printing. Don't be fooled, this inflation was NOT caused by supply and demand. Demand has collapsed for well over a year now and yet inflation remains rampant. You can confirm this with numerous metrics from retail, discretionary spending, durable goods orders, wholesale inventory and so on. Demand has fallen, supply has recovered for the most part.
The next issue is that the Fed is tightening faster than it has in the last 40-years. The shock of this has begun hitting the economy, starting with auto and housing markets taking the first of the brunt, and they have only begun suffering. Next we will see corporations taking the hit, bonds, banking system, and jobs. Remember folks, it takes about 14-18 months for rates to fully hit the economy . The Fed holds their grounds based on a strong labor market, but with continuing joblessness claims continue higher and the great layoff will begin this year. The labor market will take a hit as well.
Is there a solution?
No. Anyway you cut it, there is trouble. If central banks ease again, inflation will rise again. If central banks continue to tighten. it will cause more pain in other sectors. Banking was the first shoe to drop. Layoffs are rampant, especially in the Tech Sector with constant layoffs being announced. Corporations are doing what they can to stem losses, which means cutting payroll and clearing off debts. The term bankruptcy is one that is being used more and more.
Bulls hope for easing
Often you see bulls getting very giddy on the thoughts of the Fed cutting rates and restarting QE. I often shake my head in disbelief that they can be so naive and foolish. Even IF the Fed did so, the consumer is spent. You have record high personal debt and record low savings which means retail will NOT come back and neither will discretionary spending. Don't expect a magic turn around in corporate earnings because it won't happen.
How to prepare
Diversify. Safe havens like treasuries will turn sour as the unsustainable debt and spending will finally be realized and trust in these "safe havens" will quickly disappear. The safest bet has always been metals. Hence why banks stock metals like silver and gold and not paper or cryptocurrency. People want quality. Get out of debt quick, and start with small debts and move up.
Op-ed
I believe we are on the cusp on some serious financial turmoil and the markets will confirm this. We're on the verge of another wave down of this massive bear market. This crash seems more like a slow decent to the bottom rather than a March 2020 crash. We should easily slice through 3300 of the S&P (338 SPY) and start heading down to the next lows. The economic data supports this. Just remember, we've only now begun to taste the effects of rate hikes fully. 2023-24 will be tough for the financial system.
Even the Feds Chairman stated that there is still a possibility of a soft landing. This means the odds are against a soft landing and I believe they know it. The next financial system is being setup now, it'll be a digital currency and in the mean time, this crash will reset debts and clear out all the bad debts. I've been a bear ever since March 2020, when they started pumping everything again. I knew it would be short lived because it was unsustainable.
Markets are heading back to actual values that reflect a company's earnings. Some stocks are trading well over 25x earnings. It's absolute bogus, especially looking at this economic situation. It makes no sense. They'll keep trying to keep markets afloat to make everything look good but it really isn't and all the toxicity will overwhelm to deception.
Prehalving Bitcoin CrashBitcoin correction, prehalving crash
According to the past, a crash occurs before or between the halving. We hit a long time resistance and we have not yet tested the recent support.
Correction du Bitcoin, réduction de moitié du crash
Selon le passé, un crash se produisait avant ou entre la réduction de moitié. Nous avons atteint une résistance de longue date et nous n'avons pas encore testé le support récent.
Chainlink Market Analysis: The End ❌Chainlink has seen a significant surge in momentum over the past few days, fueled by various speculations about potential developments. However, when we delve into the chart technicalities and set aside external noise, we uncover a fascinating narrative: Chainlink has been in an accumulation phase from May 2, 2022, to the end of October 2023. This phase marked the conclusion of our previous bull run and effectively ended the corrective period, ushering in a new cycle.
🔄 This cycle may now have concluded, poised to enter a Wave 2 correction, expected to retrace between 50 to 78.6%. The 50% retracement level, aligning with the subordinate Wave 4 at $12.67, is particularly noteworthy. As for the current Wave 5, we've reached a potential area, with projections extending up to a maximum of $25. Yet, our analysis leans towards a consolidation around $20.30.
🔍 Observing the 4-hour chart, we regret to note that we missed capitalizing on this ascent due to a breakeven stop-out after securing profits, just as we're nearing the completion of Wave 3. Currently at the 161.8% extension, this level might either hold or be surpassed. If exceeded, a climb up to $27 could ensue. However, given our daily timeframe analysis capping at $25, we discount this scenario, anticipating a peak at the 261.8% extension, or $23.54, before a subordinate Wave 4 and a subsequent overarching final Wave 5 unfold.
📉 A correction down to at least $12.67 is anticipated thereafter. We'll continue to monitor the situation closely, ready to adjust our entry points should Chainlink's trajectory ascend further.
$SPY $470 Target by 3/1 💭 $483 by Friday 2/8 $470 by 3/1 $460?
Essentially it might be extremely dangerous trying to swing weeklies but it could very well be beneficial to swing Monday $490 Puts. Depending on SPY price by Wednesday, they could pay large amounts as I see the move happening in just 2-3 days, somewhere between Tuesday 2/6 and Monday 2/12, expect $478.
This image here is from the March 23' BTFP run into the end of July 23'.
Resemblance should not be ignored.
SMCI is pumped up to the stars on 100% pure speculation.SMCI - Super Micro Computer, Inc. has been on an absolutely incredible run for quite some time. However, the sheer amount of FOMO that has rushed into this stock has literally driven it to the moon on nothing but pure speculation. But that momentum is about to come to an abrupt end!
Here soon, you're going to see the buying flip to selling as the shorts start to enter into massive short positions. As the price falls, stop after stop will be taken out in rapid succession, causing longs to panic and add to the selling...
First, it will drip, then it will start to gush, then a spark will ignite, and within hours the whole shithouse will go up in flames!
When this collapses, millionaires will be made in a matter of hours, and many longs will become bag-holders squared!
Watch...
The ETF AftermathIt has been 1 year almost to the day since my last publication and what a 12 months it has been. I previously laid out the case for a pending future recession but not before we saw massive regular bullish divergence play out on the monthly time frame for Bitcoin.
Since then we've seen a 187% move in BTC, a 25% move in the S&P 500 and every commentator, pundit and analyst confident that a recession has been avoided and a soft landing inevitable.
I'm here now telling you that I believe it to be no coincidence that the previous fundamental legacy events of which bitcoin has experienced in its past, once in Dec 2017 and the other in April 2021 has resulted in massive price corrections of 83 and 53% respectively within days of the CME and IPO announcements. Albeit the likelihood of such massive corrections are lesser given where we are in the macro cycle I do believe a sizable correction will occur days following this announcement.
What is of significant interest on the chart is the previous macro fibonacci extensions of the precious 2 cycles. That being a confluent correction at the 0.5 fib level and seeing a 40% and 72% correction there after. A 0.5 extension in this current cycle would suggest a monthly wick above $48500 followed by again a sizable correction.
To pontificate as to the extent of this correction I pose the following possibilities.
-A 30% drawdown to the 200 SMA, a support level which has served Bitcoin well historically
-A 40% drawdown to the 6 and a half year support line of macro lows.
-Or an unthinkable 70% correction somewhere around the previous bear market low, 2017 bull market high and the resistance held in July 2019 and Aug 2020.
For this to take place we need to consider some very worst case scenarios and evaluate the current macro/geopolitical landscape.
-Escalation of war in Russian Ukraine.
-Escalation of war in Israel Palestine.
-Military development of China's desire to remove Taiwan's international independence.
-The largest inversion of the 10 year 2 year yield curve in 40 years.
-The largest contraction of US M2 money supply since the great depression.
-A continuation of what is already a 50% crash in China's real estate market.
-A UK real estate crisis once affordability ceases as mortgages need rolling over after a 10,000% increase in interest rates.
-A US real estate crisis as 11 monthly falsified unemployment data is realised
-The energy and manufacturing crisis in europe compounded by the highest debt to GDP ratio in its history
-A Hollywood presidential election between a criminal and a dementia patient.
My point is the macro landscape is looking unpredictable and the TA has much confluence.
This feels very much like it did in the beginning of 2020 just before the un-inversion of the yield curve and the then pending recession. It's almost like something globally needs to be orchestrated in order to create an excuse to lower rates and roll the debt over for another 4 years!!
Who knows it might even be a cyber attack and CBDC implementation ;-)
Either way Bitcoin will still be doing its thing.
Keep yourself and those satoshi's safe.
I LATE PUBLISHED THIS, BTC wyckoff schematic #1:Brace yourselves! The chart is a crystal clear warning siren for an impending crash in the Bitcoin market. What we're seeing here is the textbook setup of a Wyckoff distribution phase, a manipulative masterpiece played out by the smart money to trap unsuspecting retail investors before the rug is pulled.
Phase A was just the smart money dipping their toes, testing the waters for liquidity. Phase B, the buildup, was where they revved up the engines, creating a façade of a bullish frenzy, drawing in the crowd with the hype. But then, boom! Phase C hit with the Outthrust After Distribution (UTAD), the classic fake-out move. It's the smart money whispering, 'This is as high as we go, folks,' before they start offloading their bags onto the latecomers.
Now, as we edge into Phase D, the Sign of Weakness (SOW) has revealed itself. This isn't just a dip to buy; it's a cliff edge. The Last Point of Supply (LPSY) attempts are feeble, and the demand is drying up faster than a puddle in the Sahara.
And what's next? Phase E. The markdown. The avalanche. This isn't just going to be a correction; it's shaping up to be a freefall. The volume profile is whispering secrets of a sell-off that's ready to stampede. Those support lines? They'll snap like twigs under a boot. We're not just talking about testing lows; we're talking about rewriting the bottom line.
This is the moment where fortunes are lost, where the latecomers holding the line get burned. The chart is screaming caution. It's not a matter of if, but when. The crash is looming, and it's going to be cataclysmic. Don't be the one left holding the bag when the smart money has cashed out and left the building. This is your warning!
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TO BE FORMAL AND PROFESSIONAL.
Here's a breakdown of the typical phases and events in the Wyckoff Schematic #1, as they might relate to your chart:
Phase A: This phase marks the stopping of the prior uptrend. Key elements include:
Preliminary Supply (PSY): Where large interests begin selling the coin and volume increases.
Buying Climax (BC): Where demand is fully satiated, and there is heavy buying from the public, leading to a sharp rally and subsequent sell-off.
Automatic Reaction (AR): The immediate sell-off after the buying climax, setting a range for the trading range (TR).
Phase B: This phase is characterized by building a cause for the new downtrend.
Secondary Test (ST): Where the market tests the supply and demand balance at the upper and lower bounds of the TR established in Phase A.
Upthrust (UT): A test above the TR that fails and falls back into the range, showing that demand is not strong enough to break through the supply.
Phase C: This phase indicates the readiness to leave the TR and begin a new downtrend.
Upthrust After Distribution (UTAD): A sign of weakness, where price goes above the TR again but attracts heavy selling from the smart money, confirming they are distributing their holdings.
Phase D: The price begins to move downward as the distribution phase is ending.
Sign of Weakness (SOW): Price action that moves below the support level of the trading range, suggesting that supply is overwhelming demand.
Last Point of Supply (LPSY): The final attempt to move up into the TR, which fails due to lack of demand.
Phase E: This is the markdown phase where the price declines.
The chart depicts a series of lower highs and lower lows, consistent with a bearish trend.
The annotations on your chart suggest that the analyst is anticipating a bearish market based on the Wyckoff distribution phases. They have marked out specific events and are forecasting a continued downtrend into the future phases (D and E). It's important to note that while Wyckoff's methodology is respected among some traders, it's not infallible and should be used in conjunction with other forms of analysis and risk management techniques.
The chart also includes some narrative annotations about market events, like SEC announcements, which the analyst is using to support their interpretation of the price action within the framework of the Wyckoff Method. These external factors are used to give context to the price movements and potentially indicate the actions of institutional investors.
I hope I was early to warn everyone but I did, just forgot to do it here in TradingView.