Sovryn_Matt

Sovryn_Matt

I think this scenario is possible that could play out. Powell speaks on 6th & 7th of March where we could see price make new highs then get rejected in the FWB:65K -$68k range. SWB:69K is a meme 😂, I am doubting we break that before halving. I have seen this Wyckoff pattern play out often need times when bitcoins are feeling FOMO/Euphoria. Just my opinion. Not...

Sovryn_Matt

I think we will have one more pop higher to FWB:65K - FWB:67K range just to draw in more retail at the top before a sharp correction next week. FED Chairman powell speaks on Wednesday next weeks so that could move markets potentiallly.

Sovryn_Matt

CRYPTOCAP:BTC Weekly MACD appears to be forming a bearish cross. A #MACD Bearish cross over on the CRYPTOCAP:BTC weekly price chart has historically led to 30-60% drops in the last few years without exception. 🐻📉

Sovryn_Matt

Historically, more downside is expected when price falls below 50 MA on Bitcoins daily price chart. #Bitcoin #TA

Sovryn_Matt

Commitment of Traders Data from Jason Shapiro from crowded market reports and Unknown Market Wizards.

Sovryn_Matt

CRYPTOCAP:BTC 4hr Upwards Sloping Head and Shoulders chart pattern.

Sovryn_Matt

Weekly Chart a clear bearish divergence on RSI and MACD indicating weakness in this rally in CRYPTOCAP:TOTAL crypto market cap.

Sovryn_Matt

NSE:OIL dropped significantly in 2008 and 2020 covid crash (even went negative for a short period). Now NSE:OIL has formed a head and shoulders looking to move towards the neckline to confirm the right shoulder indicating to me lower prices for oil are coming. NSE:OIL is down 5% today alone despite the news of Saudi Arabia reducing production to prop global oil...

Sovryn_Matt

Upwards trending support zone now has turned into resistance zone. 2 weekly candles forming lower lows. Bulls good luck. 🧸

Sovryn_Matt

A comparison of Dotcom Bubble vs the current financial asset bubble we are currently as a result of the Federal Reserve Monetary Policy.

Sovryn_Matt

BTC looks prime for a sell off to the neckline of the inverse head and shoulders at $25300. CRYPTOCAP:BTC has failed to make new highs since it topped 2 weeks ago (Which I called). BTC keeps getting rejected at FWB:29K -30k levels. Fundamentally after NASDAQ:AMZN earnings yesterday the price has recovered and SP:SPX now is running into major resistances...

Sovryn_Matt

Indicator uses Machine Learning: Lorentzian Classification - #BTCUSDT TradingView For more details see link attached:

Sovryn_Matt

Just an update on SPX before the market open today. My thoughts are this week is the week. We should see the start of the next leg down in the SP500. The fundamentals are all signalling strongly a recession. However, if the market rips up it will because of market makers chasing the stops of the logical fundamental trader lol. Invalidation is last weeks peak.

Sovryn_Matt

GM Tradingview Wizards. -Observe the RSI is following the same path after the top at $69k. -SRSI is forming the similar double top pattern and looks to be rolling over this week. -Weakly bearish engulfing candle has now formed which indicates more downside to come.

Sovryn_Matt

Also notice a bear flag also seems to be forming. I am already short from $30k so I will not enter here but i expect more downside to come from here. Be aware of zone Invalidation if price move above $27900.

Sovryn_Matt

TVC:NDQ positive correlation with CRYPTOCAP:BTC price could mean a pull back to its 50 MA on the daily.

Sovryn_Matt

The current narrative is that BRICs central banks are buying the gold. Maybe its true but I would be bearish if we broke below TSE:1950 level. Longer timeframe I could see GOLD pull back ~30% like in 2008 great financial crisis.

Sovryn_Matt

BTC on the 1 hr chart seems to be forming a classic Wyckoff Distrubtion Schematic Chart Pattern. If true then we are then in phase D meaning we should trend lower but with some shakeouts along the way.