scottystu

scottystu

Bitcoin is algorithmic. It has no fundamentals. There is a cost to produce it and an emission schedule. It is programmed to make cyclical all time highs. Buckle up.

scottystu

Bitcoin is doing that upward sloping bull flag thing again. Invalidated with a new weekly candle below $8k. Otherwise I think there is still gas in this tank. Higher lows and increasing slope of the trend, I definitely wouldn't short this.

scottystu

Bitcoin is mirroring it's bottom formation from the previous time it sold off

scottystu

The slope of each bull run decreases as liquidity in the system increases. The magnitude of all time high that is reached also decreases. Rather than a 15x from 2013 ATH to 2017 ATH, I would expect about a 5x ATH, or $99,000. The next week should give us a better idea if the capitulation bottom to $3850 will hold, or if momentum will take us down to lower lows...

scottystu

Since the inception of futures trading on Bitcoin at CME, BTC has never failed to fill a gap. Gap theory is so far 100% accurate when back-testing on Bitcoin. This is not based on any fundamental event. Simply based on institutional traders hedging in the futures market. Price gravitates toward liquidity gaps. It's that simple.

scottystu

XRP has been tanking, BTC has entered a consolidation range. These are usually good conditions for an extremely fast pump. Historically XRP and other alts do most of their bullish movement in a matter of 2-3 weeks, then sell off for a very long time. I believe strongly that XRP is very near the end of it's selloff. RSI extremely oversold.

scottystu

"History doesn't always repeat, but it often rhymes."Ray Dalio often likes to talk about debt cycles. Specifically, he has referenced that our economic climate can be compared to 1937. Similarities: End of long-term debt cycle, interest rates approaching 0. Recent economic collapse (Great Depression of 1929-1932, Great Recession of 2008) Widening wealth...

scottystu

The current bounce in equities has been made on low volume. Many narratives have been provided to explain why the bounce has occurred, like improving trade relations between US and China. The fact remains that we are at the end of a long term debt cycle in an overheated economy. I expect the reaction here to be strong, as bearish sentiment has taken over this market.

scottystu

SPX weekly chart has given clear signals in the past with regard to overall changes in trend. - The 2008 recession was signaled by a clear bearish divergence on the weekly. - The 2009 bottom and reversal into a 9 year bull market was signaled by a strong bullish divergence on the weekly. - When many thought the market was crashing in late 2015/early 2016, a...

scottystu

Silver has been in a bear market for 8 years. It will very likely not break through this strong resistance order block on first try. $14.00 level will provide a nice take profit opportunity or long entry.

scottystu

Since futures trading began in December of 2017, no gap has gone unfilled in the futures trading market. To me, this could mean one main thing - Institutional traders are in fact here, and they are winning big. They are hedging their spot positions in BTC with options to guarantee profitability. Whether or not my interpretation of this theory is true, the fact...

scottystu

2014 fractal. Enough to make the hodlers quit and give up, and let smart money enter fresh. Out of crypto until strong volume enters on a buying move.

scottystu

Altcoins will bounce. They bounced with BTC in mid-February and in April. They have stayed stagnant during the most recent bounce. I believe this is because there is a larger accumulation effort going on, and this means the bounce will last a little bit longer. New capital has entered the market through BTC, which gained 48% going from $5750 to $8490. None has...

scottystu

Many altcoins have been bleeding out since January, with very few relief spikes in between. XRP/BTC is a good representation of the broader market in this case. It appears to have had plenty of time to refuel and retrace, and is approaching a support region between 5000-5400 satoshis. Additionally, Bitcoin's recent run up signals that new capital has entered the...

scottystu

Classic signs of a market top - Low volume while making new highs - Widespread optimism - Huge selling day to trigger new downtrend - 2nd consecutive lower high (1st in February, 2nd confirmed recently)

scottystu

Just following the Wall Street Cheat Sheet

scottystu

- 2014 break through log resistance inspired confidence in the market, good news (Dell announces support of Bitcoin, Overstock.com) - 2018 break through log resistance inspires confidence -Support line at $8400 based on initial correction after the move through the resistance line in 2014 Trade Idea: Buy at $8400 Sell at $8970

scottystu

Technicals on BAT looking solid for a short term play. Falling wedge formation showing on the daily, looking ready to be resolved upwards. Now entering strong support zone at ~3k-3300 sats.