Trader9898

Trader9898

As we can see today, oil has had its biggest drop in history since the gulf war. Will the pain continue? The charts appear to say no, it's hit a bottom. Just don't expect to "get rich quick" as it might be stuck near the bottom for a while.

Trader9898

Looking at some technical features on the chart, combined with the obvious sell-off and panic due to the global coronavirus threat, the charts appears to be telling us that we have a bit more pain to go through, possibly to around the 2665 mark.

Trader9898 Updated 

Gold has been behaving inversely to stocks this year, as shown on the chart. This is also the textbook way that gold should behave. While no predictions are being made regarding the breakout of the major triangle above, in the short term, Gold should continue on its upward trajectory towards the top of the triangle. This theory is supported by the continued...

Trader9898 Updated 

This is a possible look at the long term trend of the S&P 500 from now until 2028. Given that every single asset class is selling off today (stocks, bonds, real estate, commodities, crypto), this ordinarily should not happen (people sell stocks and buy gold or bonds), indicating a possible broader weakness in the market, meaning everyone is turning to cash and...

Trader9898

This looks at a 120 year cycle of the S & P 500 to try and find a "bottom" - two separate indicators state that the "bottom" will be around 1500 - first, the 120 year old chart lines. Second, the Fib Retracement. We're in for a bumpy ride...

Trader9898

Facebook can't seem to catch a break, with weekly scandals and now the U.S. government suing them. The majority of Facebook shareholders are large pensions that are extremely risk adverse (as opposed to Tesla, which is held mostly by speculators). These large pension funds hold Facebook for one reason and one reason only - to obtain a *stable* and *safe* return...

Trader9898

Oil is stuck in a long term falling wedge and failed to break out, which indicates it is likely going to fall closer to the bottom of the wedge rather than break through the top. Oil has also been trading in minor Elliot Waves both up and down inside the wedge. This chat looks at what oil would do if it continued inside the wedge and continued trading in Elliot Waves...

Trader9898 Updated 

Facebook has been trending inside the same channel for nearly 5 years. It recently broke out of the channel, and not in a false flag or noise sort of way - instead, the break is very clear, and very ominous, since Facebook basically hasn't experienced anything like this for its stock price in over 5 years. The silver lining is that the stock appears to have...

Trader9898 Updated 

This chart looks at what would occur if the dow repeated its sell off in January - as you can see from the chart, the January selloff had a fairly clear five wave chart (on the daily chart), plus a very clear second weakness in the RSI once it supposedly hit bottom. In this chart, we only have 4 out of the 5 waves, plus we are missing the second weakness in the...

Trader9898 Updated 

Although I personally am a big fan of Tesla and the cars, this analysis is not about my love of the cars but rather the balance sheet and technical analysis. It is no secret that Tesla (TSLA) is the most shorted stock in the United States right now. The balance sheet and cash flow make no sense (burning through billions of dollars in capital each quarter,...

Trader9898

Looking at the weekly chart, one can see that Bitcoin made a Elliot Wave 12345 fairly nicely. Extrapolating Elliot Wave Theory to ABCDE correction/reversals, we see that Bitcoin has been in a falling wedge/descending triangle formation for quite some time now, always bouncing off the bottom support. As the falling wedge/descending triangle formation is a bullish...

Trader9898

After what can only be described as a dismal three months for Ripple investors who bought into the hype in December - January, there may finally be a light at the end of the tunnel. Looking at the chart, you can see that Ripple finally and clearly broke through the downtrend channel that plagued the cryptocurrency for months. Further, like most of the other...

Trader9898

Ethereum and Bitcoin Cash are leading all coins higher, and are showing the trend that Bitcoin will almost certainly follow. Unlike Bitcoin, whose chart is not so clear with the breakout, Ethereum's chart has broken out of the triangle very clearly on multiple chart patterns including the long term trendline support (bottom part of triangle), the top resistance...

Trader9898

Here's a fun chart for you - it takes Elliot Wave Theory and charts the rise and fall of bitcoin using the 12345 XABCD patterns to spot a reversal. Today's whales gave us a nice breakout of the long term trend triangle which could very well signal the end of the XABCD pattern and the start of the reversal.

Trader9898

BTC is displaying some bearish indicators lately, including breaking a long term triangle to the downside (blue lines) and having the 200 day moving average (purple) be crossed by the 50 day moving average (red). While no single indicator is conclusive, the change in the chart pattern from just a weak ago suggests more pain ahead.

Trader9898

This is a re-post of a chart from one month ago after the dow dropped 700 points in one day. My extrapolation from that post compared this to 1987, in which there was a 2 year run up, and then a quick crash which erased 1 years worth of gains. While this 2018 crash appears to be slower in time than 1987's two month crash period, the charts nonetheless look the...

Trader9898

I'm noticing a lot of short term 4 hour chart analysis of Bitcoin in the last day or two trying to find patterns, and the general consensus is all over the place - half are up, half are down, and the remainder have no idea so they chart an up scenario and a down scenario. Look at the long term chart. I published this chart a month ago and the analysis still...

Trader9898 Updated 

For all the professional traders that are calling for BTC to go to zero - I say, these traders aren't even obeying their own technical analysis tools, which are supposed to predict future trading patterns based on human behavior. If one uses these tools, we can clearly see that BTC has been trading in a channel ever since the beginning of 2017, and, but for the...