Crazy to see how accurate these levels have been in hind site.
Quite the decision point we are at. Above $600, with volume , opens up tremendous upside. A close below $540, however, sends us much lower. Above $600 targets: $620, $655 Below $540 targets: $500, $465
It is clear that the United States Government wants to pass stimulus after stimulus. This will result in massive inflation and a collapse of the US dollar sooner than EVERYONE is expecting. Thesis: Buy the dip on Silver and Gold for the next decade.
If this FIB. base holds, we will see one final parabolic rise in $BTC to $63,000. Following this will be a run to > $10,000 by the end of 2021. Thesis behind this: The recent run in $BTC is directly correlated with the Federal Reserve's influx of cash into the free markets. Based on Bitcoin's past two weeks, it is clear that this is not an asset; it is all...
The house passed the stimulus bill last night. Current thesis is that we see a melt-up into late April, followed by a crash that mimics March 2020. Housing market and auto lending delinquencies are one of many pricks to this bubble. Look out below when you see these defaults more prevalent in main stream and social media.
Thesis: Above $44,500 with rounding base, we see ATH again FAST. Below $44,500 and break of parallel channel, we will see a 50% sell off FAST. Current Bias: 65% favored downside. Given the current market conditions, short term stability seems to be out of the picture. Trade wisely, friends.
Channel looks great here. A break downward out of channel and back into mega-phone, however, signals extreme downside.
Watch the $46 region for another parabolic bounce.
Bounce off of the top of this channel could bring $900 within the week. Wait for base confirmation. Breakdown back into the channel would open up $600 fast.
Fib. retracement of 18' move down foreshadowed current parabolic rise.
Not much holding this back from the 1.618 fib level above.
It seems we are forming the same pattern from last year as we head into the new year. Fundamentally, we are seeing new uncertainty arise daily and clear variables pointing to stocks being greatly over-extended. Could we see history rhyme in early 2021?
RSI divergence met with the butterfly pattern could be signs of serious downside ahead in equities.
One cannot deny the pattern outlined above. Other correlations across the market: Massive RSI divergences across major indexes. Fear and greed index creeping higher to February levels. High volume of shorts on $DXY. Everything @ all time highs. Be prepared for what may come.
All technicals point to this bull run turning over very soon. We have reached a trend line that has proven to be a heavy resistance. As for fundamentals, there is not enough of a bull case to break this pattern. Equites seem exhausted, cheap money is running out, and 2021-22 outlook does not look promising for many companies. Key Factors:: - Technicals lining...
Purely constructive climbing by the bulls. They had the ball, and did not drop it. Touché.