Sovryn_Matt

Sovryn_Matt

BTC formed an inverse head and shoulders on the daily chart but we never retested the neckline as support. So if we were to retest support the price would need to drop 12.5% from current prices.

Sovryn_Matt

- Right shoulder forming of a Head and Shoulders on 4hr -Bearish divergences on RSI.

Sovryn_Matt

Just an update on the daily RSI, MACD and SRSI indicators. We now have a bearish engulfing candle on the daily.

Sovryn_Matt

What #Bitcoin Influencers wont tell you. BTC trade just like Big Tech Stock but with more volatility. If TVC:NDQ is close to peaking then so is price of $BTC.

Sovryn_Matt

There is a lot of fears of "de-dollarisation" and bearish news in the media about the USD. However, I think this is a great opportunity to be a contrarian and long the dollar. And all risk on assets. NFA.

Sovryn_Matt

As you can see SP:SPX is running to major resistance levels and trend lines. Appears to be forming a right shoulder of bearish Head and Shoulders chart pattern. NASDAQ:NFLX is expected to mis earnings and is already dumping after hours market. Could bad earnings of other big companies going to be the catalyst for the next wave down? Many bears are...

Sovryn_Matt

BTC has pumped 100% since its lows in early January. There is clear volume divergence. As price rises there is less trading volume indicating bulls may be losing some steam. RSI has a clear bearish divergence. Rising wedge is usually a bearish pattern. This is not investment or financial advice. I want to be a Tradingview Wizard Hit the like button.

Sovryn_Matt

USD looks ready for a bounce despite fears of global de-dollarisation. VIX is primed for a bounce as its reaching extreme lows in comparison. SPX is running into major resistance levels and also appears to be forming a right shoulder of a head and shoulders chart pattern.

Sovryn_Matt

CRYPTOCAP:BTC 1hr Price Chart Update Now halfway through Phase E. According to Wyckoff market cycle theory we should have short lived bounce before trending down.

Sovryn_Matt

QT begins on June 15th with FOMC announcement will be very interesting to see how markets react. But looks like many crypto tokens will be going to zero at this rate and really shows how much uninformed retail are still in this market after ETHs drop to $1400. $22k is my first target which will hold since everyone believes 200 MA to magic support. But worst case...

Sovryn_Matt

200 weekly MA Mid descending parallel channel Weekly indicators are saying we close to bottoming Monthly indicators are still very bearish Federal reserve began QT today Theres nothing bullish fundamentally or technically

Sovryn_Matt

Recession watcher. QT is starting today. The Fed starts Quantitative Tightening (QT) tomorrow. It will process $47.5 billion a month for the first three months. It will increase to the full $95 billion three months later. They are trying to reduce their balance sheet by $7.6 trillion by 2023 end. (Uh, oh).

Sovryn_Matt

"The Squeeze The squeeze is the central concept of Bollinger Bands®. When the bands come close together, constricting the moving average, it is called a squeeze. A squeeze signals a period of low volatility and is considered by traders to be a potential sign of future increased volatility and possible trading opportunities. Conversely, the wider apart the bands...

Sovryn_Matt

Daily SRSI previously as called every local and macro top when its topped out. Highly Probable now we going to see low $20k levels. Be careful bulls. The Bear flag measured move is still $23k level.

Sovryn_Matt

Looking like we should pump from here as long as we hold $31k. CME market makers and Bitfinex Longs are record highs. i.e. copy the whales.

Sovryn_Matt

Daily candle looks like reversal candle, with significant volume to confirm a bottom, as well as MACD and SRSI momentum becoming more bullish.

Sovryn_Matt

SP500 may have bottomed at a key trendline from 2009. My thesis is everyone is in fear and expecting us to go lower so might be a good countertrade opportunity as the crowd is always wrong and react to market. The yield curve has inverted which is a strong recession indicator but i suspect wont playout til end of 2022 to 2023. I am opened a Long on Friday wish me luck.

Sovryn_Matt

Fear and greed index is at all time lows. This usually is the best bottom signal for BTC of 9. Always countertrade the crowd. Buy the fear is your best bet. We could still fall to $22k at 200 wekkly MA as my worst case scenario for BTC but its looking less likely now with fast thursday reversal.