TechniBlock

TechniBlock Updated 

Ethereum looks prime for a relief rally. After looking at the Grayscale Ethereum trust (ETHE) it's clear we are due. With patterns we can't tell when but we can estimate how high the rally could go. Check out the chart. I imagine we could hit the golden pocket with no issues (area between the .618 and .65 fibs). The falling wedge could break lower forming a longer...

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AMD is currently breaking out. This falling wedge has been in the making since October of 2021. We are on the daily and we are still below the 200SMA so it's not a buy quite yet. We have been correcting for a while so we're due for rally.

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LMT is currently finding support on the pre-covid crash top. Looks strong and pays a dividend. Should do well in today's world.

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Charts look as if we could see a significant bear market rally. This is a basic falling wedge pattern and the measured breakout seems to top out at the .618 to .65 golden pocket (fib retrace). It hasn't started breaking yet, this is just what could be. Interesting none the less. It could always break lower and paint a longer wedge.

TechniBlock Updated 

Looking at the monthly you will notice that the 2013 and 2017 bull runs end and capitulated when the 9 SMA crosses the 19 SMA. That said I believe the 2021 bull run has been over for a year and the 9 SMA has just contacted the 19 SMA seen in the chart. This is a monthly so it's slow moving but capitulation is immanent as the 9 SMA is touching the 19 SMA as we...

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I think we are due for a small rally over the next few weeks before heading lower. These are the two lines I am watching. I see Bitcoin's high as the 2021 peak not the peak made on bearish divergence in 2022. Just look at GBTC and you can clearly see it made a lower low on the second pump leading to the 2022 high and is forming a better looking descending...

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The white measurement bar is the time it took bitcoin from 2017 top to 2018 capitulation. You can clearly see something is changing with the break of the 2 year old fib channel. We could be at the beginning of a serious move. Stand by and watch out below. It can always go lower then you think.

TechniBlock Updated 

The bitcoin weekly cross could cross by next week. That being said, in the past these crosses have been very profitable and the .618 retrace comes in around 58k but bitcoin has some major head winds. RSI is trending down and we show major bearish divergences on the macD. I would expect a rally after this last multi month sell off. Time will tell.

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It's interesting that GBTC made a lower high November 10th of 2021 where as bitcoin made a higher high. That said I pulled a fib and added some trend lines and Heikin Ashi candles to extract the possibilities of this pump. I think GBTC will hit 42.36 to 44.09 by late May early June. I played the weekly MacD cross and verified with the Hull Hampster-bot indicator....

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I need to see a upward break of this top descending trendline to become bullish. We appear to have bottomed with a clear W pattern but we have to break that upper line. If the US government continues to debase the dollar (only tool left) then I would expect commodities to rise.

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AU is starting it's breakout....... I expect it to push up to the .618 at 29.50 before a major correction given these crazy times anything could happen. Falling below 20.00 would cause me to close this swing long.

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Look at the selling that has come into this pump. It's massive and sold off back to the bottom trendline. H&S will play out next.

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We have bearish divergences for a while now. Looking at the monthly chart our MacD crosses down. RSI is at 51.48 Prior bottoms have come in around 43.00 on the monthly. We still need to capitulate and shake some people out. There is always that chance that the greater market has another leg up to blow off top and in that case I believe Bitcoin could follow. Given...

TechniBlock Updated 

Bitcoin should correct back to the .618 coming in at 40k. If we're really bullish we can hit the .5 fib coming in at 43k. As of now I don't believe we have found bottom. There are more sellers that need to capitulate into the downturn. All in all this is a shakeout. NVT has been maxed out for some time so pullback was expected. See you at 40k :)

TechniBlock Updated 

Looks like a cup and handle pattern and the handle is being formed. I think that with all the "new" cash in circulation we will see an eventful spring and summer. This is a monthly chart and we're drawing the handle now.

TechniBlock Updated 

The million dollar question, was it a descending triangle or a falling wedge pattern? This comparison shows how close we are to decision time. If we drop below the EMA after this pump we will have a long time to bottom.

TechniBlock Updated 

This is really interesting because the whales will do everything possible to get traders to put money in the market so they can sell off and get out. We had a very strong secondary pump in 2017 that looked like we were breaking bullish but it corrected further giving way to the bear market of 2018. I have all my money on the sidelines but am watching closely for a...

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All beware of this breakout.