xtremerider8

xtremerider8

BTC in the past week drops while stocks rise big time last Friday. But Why? In the chart, BTC is still unable to get back inside the wedge & may be going lower. It may be that investors are selling BTC to rotate into stocks & also bonds when they see the FED not overly hawkish & the $Dollar & 10 yr yield stabilizing & may be having a shortterm top. It would be...

xtremerider8

BTC SHORTS bounced from the trendline & made a big green candle. BTC price fell but was immediately bought up. Can the BTC bulls hold 28/29k & make this dump a fakeout? 31k is the minimum resistance to break for uptrend to resume. If BTC breaks below 28k then 26500 is the last defense to avoid 22k, approximately the wma200 level. Not trading advice

xtremerider8

DJI retraced already 17% from 36952 ATH to a low of 30636, now at 32120. This completed a 1:1 abc corrective wave. 30636 is also the black VWAP from pandemic low. This may be the bottom if 30636 holds. If it does not hold, DJI may retrace 20 % (bear market boundary) to 29570 pivot which is also the pre-pandemic top. This will be near the 0.382 FIB retracement ...

xtremerider8

EEM now near 41, has already fallen more than 30% from Feb2021 top at 57.19. Two weeks ago it fell to 39 the green VWAP from 2016 & bounced with a weekly hammer candle. It is now being rejected by a FIB CHANNEL level near the yellow 41-42 pivot zone. Holding this zone will see more upside maybe up to 44 or 46 before a c-wave down. If 41/42 does not hold, there are...

xtremerider8

ASEA has been in this yellow box consolidation range sine Feb2018 except during the pandemic plunge which is a BLACKSWAN event & should be discounted. The base of this box is at 13.40. Right now ASEA is making a falling wedge. A falling wedge has a greater chance to break to the upside. If it holds the middle green zone of this box & bounce above 15, it will be a...

xtremerider8

TNX 10-yr yield may have peaked out as investors rotate to the safety of bonds in the 120-114 accumulation zone. TLT has completed a big M-pattern stopping at almost perfect FIBO levels. This ABC wave has already made a 300% retracement from the ATH of 173.89 made last 9Mar2020 before pandemic striked. The 132-135 zone will be some sort of neutral area for...

xtremerider8

Update of my 11May post that gold will fall to 1800 if 1833 does not hold. It bounced from 1800 but this may not last if DXY dollar index continues higher. GC1 gold futures is doing a M-pattern & may retrace to 0.786 FIBO back down to 1760. However, if DXY dollar tops out & retrace to 100 or 97, gold will be able to hold 1800 & rally back to 1920/1900 neck of...

xtremerider8

TWTR & TSLA fell due to ELON MUSK’s selling of TESLA shares to buy TWTR @54.20/share but later retracted when TWTR fell. Investors dont like uncertainties. TWTR may be doing a M-pattern to reach the 29 pivot which also a FIBO 0.854 retracement from ATH 80.75 to bottom 20. 29 is also a move downward the size of the yellow square. However, it may have an oversold...

xtremerider8

Something is wrong! NOWHERE to hide except cash. Even XLP staples crash last week. Now DJT is showing yet another warning sign. It just broke the very crucial 14k support, completing a head & shoulder pattern. Measured move may send it down to the 11k to 10300 zone. It is now at 13500 my green pivot box where the red dotted median of my PITCHFORK is located. If...

xtremerider8

BABA is in a long downward pitchfork since the 320 ATH. In this weekly chart, BABA has been oscillating between the 2 green PITCHFORK lines (in a closing basis) since it made a diamond continuation pattern last Nov2021. Last week it bounced from the pitchfork mired dotted median line has turned down again to the 87 pivot zone. If the 87 pivot zone doesn’t hold, we...

xtremerider8

BTC dominance just shot up, breaking out of a down trending pivot line & also a horizontal support at 44. Does this predict an Altcoin Winter coming? Altcoins are falling a lot more than BTC which is holding better within the 29k to 31k range until recently when BTC again broke below 29k. Going forward BTC may gain faster when market bottoms. Not trading advice

xtremerider8

BTCSHORTS chart seems to have found a temporary support & may reverse up for a bigger BTC capitulation to continue in the 2nd part of May. We may see a rally in June up to late July. Then another in 4Q2022 leading into Jan2023. All risk assets tumbled Wednesday 18May into the worst down day since pandemic despite DXY $ index & TNX 10-yr yield retracing, increasing...

xtremerider8

BTC after breaking down from a big wedge, again broke down from a bearflag formation. It broke the 31k-29k range consolidation & all 2021 lows. If 29k is not recovered next few days, 28k & 25K/24k will be next. Worst scenario is the wedge-measured move down at 20k. All risk assets down Wednesday 18May in a capitulation-like move, the worst down day since the...

xtremerider8

This is bad! Stocks are falling even when DXY dollar index & TNX 10-yr yield are retracing. The Dow Jones Transportation, a leading indicator for the stock mkt & the economy, just zipped through the 14k key support, down 7.41%. All stock indices had a capitulation-like move Wednesday 18May, the worst since the pandemic days. Even defensive staples, household...

xtremerider8

In this weekly chart, the recent bounce of ETH looks weak as it was not able to get above last week’s closing low. An equal bottom at 1753 seems likely. However, since ETH already made a new ATH at 4865 that was higher that the wave 3 top of 4373. I think it will go down lower than 1753 to make wave 4 an Expanded Flat. The most probable level would be 1425 which...

xtremerider8

After rejected by 2000 level, GOLD is making a M-pattern & has retraced pass 1800, a 0.854 Fib level. It has broken the diagonal Trendline @ 1833 (0.786 Fib level). It is very likely that GOLD will go down to retest 1760 pivot (100% retracement) where it has bottomed multiple times before. 1760 will also be a 0.786 retracement of the entire rally from 1677 Aug2021...

xtremerider8

CIBR seems to be making a M-pattern & is now at 39, a 50% retracement. If the yellow zone does not hold 39, then the next will be the 0.618 pivot support at 34 which is also a 200% retracement of the latest rally. 34 is also located near the base of my slanted FIB CHANNEL. 34 may be the bottom of the ABC correction & the start of a new 5 wave uptrend inside this...

xtremerider8

AAPL is the last big tech to break, pulling down QQQ & SPY with it. In this weekly chart, it just broke the green WMA50 line & also the upchannel. It seems to be making a M-pattern already with a lower high & a lower low thus confirming the downtrend. Despite a big relief rally bouncing from 140 zone last Friday, I think AAPL may still go down to my green...