Smadis

Smadis

We have been observing this Rising Wedge on the S&P 500 for a while now and I expected the price to at the very least reach the 61.8 Fibonacci retracement level. It finally tagged this level today and now the question becomes whether it is going to retest the 200 day moving average or not. The likelihood of getting one more swing to the upside of this rising wedge...

Smadis Updated 

Yeah, there is a lot of info in this post so bear with me. We recently saw the breakdown from the long term support line on the logarithmic chart as predicted in an earlier post of mine. The question now is what will be the angle of the trend line we will form for our next market cycle. I have presented multiple possible outcomes. In the bullish scenario, we will...

Smadis

Everyone is calling the current formation an ascending triangle but it is much more likely to be a rising wedge on the 4 hourly time frame. One can consider wicks to further support a trend line but candle body closes should always have more significance than wicks. Don't fall for the narrative that we are immediately going to break out of this consolidation...

Smadis Updated 

Even though the current BTC price action looks extremely bullish and almost everyone in the community is currently losing their minds, I cannot help but think that this could still be a potential bull trap until we confirm otherwise. What you have to keep in mind is that it is extremely probable based on historical price action that we are not following a...

Smadis Updated 

We are likely to have one more leg down followed by a small rally. After that we will probably enter an extremely boring market until late spring - early summer next year. In every BTC bull market cycle we have had 2 mini bubbles before we reach all time highs. We recently experienced the peak of the first mini bubble, topping out at the 61.8% Fibonacci level. The...