ZenTradesRW

ZenTradesRW

FET developing a solid ascending triangle above the 21 EMA. RSI has been reset and sell volume has been declining in the base. Think it goes for the breakout shortly. Ideally, FET heads for the ATHs and bases for 2-3 months before a big move this summer. AI names got a huge boost due to ChatGPT and is shaping up to be the narrative of 2023.

ZenTradesRW Updated 

Weekly chart of the S&P 500 going back to the 1970's. Looks like we're just coming out of a large correction within a secular bull market. With the rise of ChatGPT, I believe we're just about to kick-off the Roaring 20's tech bubble led by artificial intelligence. Other tech platforms that will stir up the market's animal spirits and eventual mania include...

ZenTradesRW Updated 

MATIC has formed a classic Stage 1 base (accumulation) for the past 6 months and one of very few coins in this market structure. Think we'll likely see a breakout to stage 2 shortly, which is when dips to the 21/50 day are for buying. Plenty of room on RSI for a big move here. The catalyst that I think could launch MATIC to ATHs is the release of zkEVM mainnet in...

ZenTradesRW

Bitcoin broke the downtrend without looking back on heavy volume. For the next few months, think it's best to simply hold through the momentum as their will be shakeouts that will make it difficult to trade. The shakeouts will reset the momentum indicators like RSI. Thinking three legs up before a more meaningful correction and chop. The second and third legs...

ZenTradesRW

ARKK setting up an 8 month falling wedge on the weekly timeframe. Looks like it's coming to an end...Santa rally in the cards (post-Christmas)? The last few days making everyone lean bearish after the FOMC could be setting up for a big short squeeze

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BTC may be putting in a classic double bottom where the second low undercuts the first. Sentiment is always much worse on the second low, which creates the recipe for a shorts squeeze, lockout rally like early 2019. Getting over the 100 day (orange line) which has been key resistance this year is the first step, and would be highly constructive.

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MATIC building out a near-term inverted head & shoulders right on the volume shelf and above the 200 day. The medium-term pattern is a downtrend breakout / flag breakout and retest (can better be seen on the weekly timeframe) Looking for this to take another shot at $1.30 in the coming week or two. If it can get over, MATIC will be in its own bull market (lone...

ZenTradesRW

The Fed signaled a moderation of rate hikes for December and if CPI comes in light on Dec 13, it's possible the Fed pauses shortly after. The market seems to be assigning a higher probability of this occurring. Possibly in the midst of a lockout rally atm. Notice the high volume up bars at the lows relative to the rest...

ZenTradesRW Updated 

QNT forming a bear pennant. Think we get a final shakeout in the coming days, undercutting the local lows. A sustainable breakout to the upside from this wedge wouldn't look quite "right". Afterwards, QNT could have a big 1H 2023 given the relative strength it has shown from the June lows

ZenTradesRW

MATIC forming a descending triangle, which should resolve over the next week or so. Think we have one more leg down towards $0.62, which will be the "generational buy" opportunity. MATIC has been showing relative strength since the June lows. While most have made lower lows, MATIC is more than 2x off the lows and likely to form a higher low. Once the market...

ZenTradesRW

USD looks like it wants to come up and retest the underside of this breakdown. Expecting that move to trigger the final capitulation leg in the QQQ, SPY and continuation of the down leg in BTC.

ZenTradesRW

The market is starting to play out similar to 2018. Back then, the market capitulated into the December FOMC meeting and bottomed five days after. 10 days later, the Fed announced they were going to pause rate hikes and the bull market continued. Later in 2019, the Fed cut rates three times. Ultimately, it appears that the market needs to crash in order for the...

ZenTradesRW

BTC looks eerily similar to the Nov-Dec 2018 capitulation - broke down from the descending triangle with a weekly close below. If this plays out, expecting a bottom sub-$12K sometime in December, which would also represent the same ~85% drawdown from the highs in 2018.

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QNT has been one of the best performing coins YTD and off the June lows. In the later stages of a bear market, leaders of the next cycle bottom first and bounce the hardest. QNT could be a leader in the making... Broke out of the large inverted H&S pattern on strong, increasing volume and now consolidating the move via flag. I think this attempts a breakout by...

ZenTradesRW Updated 

MATIC coiling into a flag and looks ready to breakout soon. One of the strongest coins atm and gaining momentum. - Daily RSI has reset with plenty of room to run - Clear accumulation volume patterns with relatively low volume on this flag consolidation - ZK narrative taking over crypto - ETH merge in September has brought capital and attention back to Ethereum ecosystem

ZenTradesRW Updated 

MATIC coming down right into the POC + volume shelf after a ~88% 5 wave selloff. At the very least, I think we have a large bear market rally, but this could end up being the ultimate bottom and. generational buying opportunity. This huge selloff really was a result of Fed tightening to subdue inflation. The economy is starting to feel the affects of a hurt...

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QQQ looks pretty weak and forming a steep falling wedge. The bottom of the wedge has big confluence - significant daily support and the 200wma. Two scenarios: (1) Drop down for a third touch on wedge support support and go for the breakout shortly after (2) Drop down and proceed to breakdown below the wedge as selling pressure accelerates. Pre-pandemic highs...

ZenTradesRW

ETH puking through $1,700 support on increasing daily volume. On weekly, looks headed to the 200wma at a minimum. I've also overlaid the 2018 fractal which is probably the worst case scenario barring a 1987 style crash. The trend line break is eerily similar. Stay safe.