theemk13

theemk13 Updated 

Traded against the dollar, Bitcoin should be inversely correlated to dollar movements. Instead we see an unusual state here in which Bitcoin is rallying with a similar momentum to the Dollar Index. We also see a divergence between Bitcoin and the S&P500 which are also correlated in broader market terms with Bitcoin rallying whilst the stock market pulls...

theemk13

I feel it is highly likely $25.4k gets breached. Either that or we crash from here, I really don't think moon is a scenario right now. It is a great opportunity for the market makers as: 1) an invalidation for shorts (they may exit) 2) a trap for 'breakout traders' 3) a bull trap for longs to get horny in general 4) large volume selling can be hidden amongst...

theemk13

TLDR; indicators wave trend with divergence printing red dot and heading down, obv oscillator with divergences also producing bearish volume divergence are showing that we are in a topping process. RSI is the final indicator which is not giving me bearish divergence yet. There is a risk for $SPX to descend to the 4030 area for wave D in this rising wedge triangle...

theemk13 Updated 

Here is my elliot wave count based on the DXY breaking out, we should get better confirmation on a breakout of the Dollar Index with the next impulse wave up. The total move is targeting upwards of 112 for the DXY, and can become even higher if the primary wave III is impulsive as it usually is.

theemk13

Apologies, text was cluttering the count, here is a cleaner chart

theemk13 Updated 

Here is my full and comprehensive Elliot Wave Count since inception of S&P500 index. Please note I have called these Elliot Wave Cycles as follows for reference: Cycle, SuperCycle and Millenium for the predominant reason of ease of viewing. I know it's not a Millenium count.... In my findings of this count I was quite surprised that the collaborative counting of...

theemk13

I hope that you are able to scroll through the previous weekly chart. Just in case, here is the monthly look. The weekly chart has all the waves confirmed by RSI.

theemk13

Quick look at Crude Oil, bullish descending wedge confirmed by RSI with triangle wave abcde ending with e wave reversal. Potential for a correction to form triple bullish divergence. Breakout of diagonal trendline and looking to perfectly retest.... So many Triangles in the markets right now, I swear I'm not obsessed with them lol...

theemk13 Updated 

Believe we are in a topping process for crypto. Short on Link as long as the 4 hour trendline doesnt close above on consecutive 2x 4hr closes A lot of demand for lower prices as we are under the belief through monthly indicators that bottom may be in. We should expect a frontunning on Bitcoin of the 21 weekly EMA which is a retest area during all bull market...

theemk13

ETH appears to be forming an ending descending channel with a triangle formation within the parallel centerline and confirmed by RSI. Looks a bit too good to be true symmetry wise but rejection here at RSI midzone (control) and the pattern would do really well to trap many as the next legs of the triangle are a higher low followed by lower low into crash. The 700...

theemk13

Inverse Head & Shoulders could potentially take us out of the nasty Head & Shoulders screaming out of the chart. W formation patterns as noted on the RSI have produced significant rallies. If we void the inverse Head & Shoulders could we be setting up for the bloodbath?

theemk13 Updated 

*DISCLAIMER* this project is my largest holding in my portfolio. I wish not to shill, in fact would prefer lower prices on this project to double or triple my holdings. But seeing as I'm not a popular trader, why not publish it to see if this comes to light! Analyse here extreme strength of this coin creating an extremely bullish higher low structure without...

theemk13

Two variants of the Gartley Pattern are representing here: the bearish bat and the bearish butterfly pattern. Expecting one to play out and, based on the lack of divergence at the current high, expect whichever happens to be confirmed by divergence as such. Daily RSI shall require to hit the 68 level, being the previous high on the chart, to estimate the strength...

theemk13 Updated 

CHATGPT acquisition by Microsoft has led to a huge AI narrative pump... ... The only issue is...what fundamentally will sustain this AI crypto narrative? Most of these AI cryptos do not have working tech, if they do, most of it is useless. CHATGPT appears to have great tech, why would there be need for these crypto AI projects that don't even touch the sides of...

theemk13

Crucial moment for the S&P500, where the abcde inverse triangle megaphone pattern has played out. Caution to the wind as this may be a trap; one pattern plays out - connecting wave in the form of w-x-y with the same bearish divergence. Honestly I would close longs or enter shorts here. Best case if in good profits just wait to see what happens if price ever...

theemk13 Updated 

Previous two impulsive moves out of Bitcoin occured on Fridays. We have seen some sideways grind this weekend and no follow through; what could be the reasons? There's been a trendbreak out of our diagonal uptrend. We could construe that we are retesting it from the underside. We could also be accumulating below it for a pop upward. Keen eyes on our resistance...

theemk13

Apologies, btcusd:coinbase is a cleaner chart. Heavy concern that btc frontran the stocks pump and is now frontrunning a stocks dump Severe weakness is portrayed here at the resistance trendlines and no follow thru on the bear trendline Stinks of bulltrap Mad move to upside with no healthy pullback stinks Traders in PTSD of 2019 fractal and too scared to...

theemk13

okay i was wrong. Fed did not do what Bullard suggested. Imo this hasn't changed my perception of the market. I still believe this to be a bear market rally. You can call me an idiot or whatever but there are discrepancies in the charts that just do not fundamentally meet the requirements of a new bull market. My main major ones are Dow Jones Industrial average...