We broke trend and had a sell signal on November 20th, but turned out to be a fake out because we made another new high. However, it looks like it is playing out now. Right now we are expecting a daily downtrend support around 3027 should hold if not we are probably searching for a weekly downtrend. As of right now we are only looking for a correction to 3027. I...
Market has had a large rally on inflation. Jay Powell has assured markets that the qe and money printing will continue. 0% interest are coming back again (possibly even negative rates) and this is all stock market bullish. Trade talks are fake as ever and market somehow buys Trumps bull shit that the trade deal is just around the corner. I saw a chart of the feds...
The big 40% pump in a few hours by the whales has all been faded, as predicted. It was all a stunt to get the little bitcoin bulls excited to unload their bitcoin at a higher price. The whales totally control this market and they want out of the fools gold. Of course you already know this if you saw my last bitcoin update. We are in the process of forming a lower...
The long term technicals on the monthly charts are just starting to break down we broke the up trend line and established our lower high, next I would expect a lower low below $88.40 on monthly chart. Very good entry for longer-term short on dollar with stop at around 100. The dollar is very bearish fundamentally and I would expect this bear market to take it below 70.
I like to see a bullish/bearish engulfing candle when a uptrend/downtrend is over. Gold is in weekly downtrend and if it was the last leg down we didn't see very impulsive buying. Gold is in a daily uptrend and it looks like it will be up until we hit the weekly downtrend-line it's possible we might break out but that could also be another shorting opportunity for...
As my last gold posts indicated we still had one more leg down which is playing out now looking for a bottom between $1455 and $1383 I will post an update once we have seen a bottom. The correction on Gold is continuing because it was finishing the overbought correction but after one more leg down we should have enough room to break $1550 resistance and move up to...
If you were long the stock market since October last year congratulations, you are up 2.5%, which is about as good as a savings account. It is really not even worth being in this market at all. You are better off looking toward individual stocks and commodoties. We had a false breakdown in September where we broke down from the wedge/head and shoulders. The...
The rally up was the healthiest thing for the bear case because now we have plenty of room on RSI to resume bear market. Now overbought. Too many people sold bitcoin off to 7294 when it was already way oversold. Like I have said before bitcoin will slowly go down to $1000. The fundamentals of bitcoin is all about the false hope that it will go to a million and...
Dollar going a lot lower over next few years, Silver and Gold going a lot higher.
Still bearish, Objective short opportunity coming at downtrend line, Overbought on monthly and weekly with room to fall on daily. Even if we break bullish on daily, possibly make double top, I would still expect a more significant sell off. Bulls want to see more downside here because we are overbought, however if we are going higher to make double top we need to...
Full Head and Shoulders pattern on daily; closed right on neckline, Megaphone on Monthly. I am expecting a larger drop than we had in August. Don't short yet, not objective, if you were short start looking to take profits. We are nearing strong support and oversold conditions, short after support breaks. Long term charts we have a Megaphone Top. I called the top...
Bitcoin to rally to around 9,300, it's oversold in the near term looking for next leg down to lead to near 6,000
On the daily the dollar is moving up, however it is running into overbought conditions. It look like it will reverse soon on RSI in order to keep the bearish divergences in tact
The dollar is bearish on the technicals we have bearish divergences on monthly charts and we are due for a major drop. We will probably make lower lows than the 2000s because of inflation and the dollar has no intrinsic value. The dollar index is compared with other fiat currencies which is not a fair comparison. It should be compared with the purchasing power of...
Looks like my most bearish scenario has played out, or my longterm most bullish scenario. Of course we technically haven't closed below 1483 so we could still reverse but this is unlikely. I am looking for bottom it the July trading range. Ultimately, this will be a great buying opportunity because I still stand by my Gold to 5k in next decade. For those who don't...
Gold likely to drop to $1483, Silver potential drop to $17.34, that is strong support so bulls should get at a minimum a bounce but I tend to lean toward a double bottom. Eventually, Gold will breakout to $1600 within next couple months even with my most bearish case where it breaks down to early $1400s. With any doubt on Gold and Silver just simply look at the...
I would expect a bigger drop based on divergence if it plays out
In the idea I will link below, I talk about the fundamental problems with bitcoin and why it will never succeed in becoming an alternative to the US dollar.If anyone wants I can post more units fundamental problems. But, this is not to say I told ya so. This is to help you guys. Maybe you bought it at 12k and you don't know what to do the answer is sell before it...