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Economic Cycles

ETH 2400 - 2000So ETH broke down. Send it lower. Found some interesting areas of interest using the OHL (open, high, low) this year and previous years. There is a strong interest zone between 2400 and 2000. Found lots of confluence. Yearly open marked by red line with the yearly highs and lows marked in black. 1. Yearly open at 2282 2. Yearly low at 2095 3. 2023 yearly high at 2447 4. April 2023 high point (orange arrow) similar point to the yearly low at 2095 5. Price coming below the 200d MA and 52W ma 6. Aug - Oct timeframe seasonality 7. Similar chart setup as last year I'm not an ETH bull anymore but I think this chart here shows a good longer term setup. The 4th year in the cycle is typically the strongest and I expect this time to NOT be different. Can also see how the 2022 yearly high and open at 3800 act as strong resistance thus far in 2024. They're really gonna let us run it back again muahaha.
CRYPTO:ETHUSD
by bhx10
BITCOIN - Analyzing previous Bitcoin cycles combined with DataIf you look at the monthly chart of Bitcoin and examine the three previous cycles in crypto, you can see where we currently stand. This doesn’t guarantee that we’ll go up from here, but it does show that the chart often follows a similar pattern every cycle. Price movements are a universal phenomenon seen across all charts in various sectors, not just crypto. Often, you’ll notice an asset testing its all-time high (ATH) and then taking a “breath.” After that, the asset typically moves beyond its ATH and embarks on a bullish journey. The market tends to become more greedy once it surpasses the ATH because it means everyone in the market is in profit. Of course, it depends on what you bought, but the principle remains the same. I see a lot of people worried about where we’re headed next. Nothing is for certain, but stop reading the news and worrying about recessions. England and Germany are currently in recessions and have just broken their ATHs. Recessions have nothing to do with price action. Many are also concerned that the markets will crash once the rate cut season starts, which is highly likely to occur in September. However, historical data suggests otherwise. If you look back 70 years, the S&P 500 has averaged an 11% return one year after the first rate cut. By using data and following cycles, like the one below and the 18.6-year real estate and economic cycle, it becomes much easier to handle the drawdowns and negativity you hear around you. Using Fibonacci retracement, I believe we could see a top for Bitcoin around $150-200K before the next bear market.
INDEX:BTCUSDLong
by WealthNode
QQQ sold off today and plummeted in after hoursQQQ started to finally show selling with momentum for first day in nearly a week of slowly selling. It looks as though distribution phase has passed and selling with momentum has begun. After hours etf continues to slide dramatically Bulls have lost with bears firmly in control at the moment The after hours sell we are experiencing now could possibly cause it to gap down on open then get filled in the morning before selling continues.
NASDAQ:QQQShort
by ratchet-mint
BTC : Spot the DIFFERENCE - Why THIS TIME is DIFFERENTYesterday, I made a very comprehensive update on why BTC likely has a hard drop coming - the only problem is it published the video on the BTC.D chart 🥴 So, you've likely missed it and I will repeat it here today because it's a VERY clear signal. Altcoin dump happened BETWEEN the first turquoise and the purple vertical line, from halfway onwards: Up until this point BTC did correct, but only around -27%. (BTC has currently corrected -33%) The price THEN went on to drop another -20% before bottoming out at point 4 on the Elliot Wave Theory: RECAP: What happened AFTER the 27% drop that led to another hard drop, ending at -50%? The BTC.D started INCREASING whilst BTC price DECREASED and TOTAL3 DECREASED . Now look at the chart again, again at point 3 of Elliot Wave Theory (the second turquoise vertical line). In other words - we're still waiting to reach point 4. The in-depth explanation here: ______________________________________ CRYPTOCAP:BTC.D CRYPTOCAP:TOTAL3 COINBASE:BTCUSD COINBASE:BTCUSDT
Short
by CryptoCheck-