Here we continue the saga of the FTX fallout. Another dominoe in the collapse is falling. Bitcoin has broken a 4 hour momentum channel which appears to be the next leg to lower lows.
This is the Daily version, since the 1 hour chart will not play for very long.
4 Hour Channel:
TSLA seems to be bottoming out on the momentum indicators, this looks like it will delay the 100 level test in which supposidly Elon will get margin called at if it were to break. I can see this getting delayed for another week, or perhaps it will bottom here then and form a lower high and restest 100 closer to june/july.
Seeing a weekly momentum shift forming, expect major trend change.
Couple of scenarios, Economy could break and fed allows inflation to creep up while easing on rates, If they reduce reverse repo rates then yields will drop as money market funds buy 1 yr bills on the open market again.
Otherwise they might have to increase rates if inflation continues to weigh...
Timeline is 6 months - 2 years
The crash has already started. At some point everyone will start to sell thier treasury bonds, yields will go up proportionally to inflation until the dollar loses it's status as the global currency and dramatic measures are used to stop inflation resulting in stagflation and yield recovery. Else hyper inflation and the dollar is...
Using momentum indicators (keltner channel) I've been watching this weekly rally and recent correction. Using the close, and the last wave, oil price could climb to astronomical levels in USD. There is a momentum shift of the correction, and the bull market for oil appears to be underway. At this pace, 200 by june is not far fetched. I expect the Dollar to lose...
As you can see bitcoin is in a dire situation. There maybe a relief bounce to 33k to close a gap produced on the bearish push down. However I doubt that it will amount to anything, if it were to hold there is a chance for a new bullish cycle to start, but no signs yet. Instead we're developing momentum downward and will start to really grind if we don't get that...
We're at a crucial spot on the daily. We've rejected numerous times from the 50% retracement of ~68k-~27k, a crucial level to confirm the double top. Some people think a 30k drop is a correction in bitcoin. In reality that is just a little noise compaired to the 90% 5th wave corrections we've seen in the past, you must view bitcoin logarithmically, and the real...
Here I made an elliot wave count, this is a complete wave assuming the 5th wave is short like in 2013/2014.
I will look into making an alternate count that shows one more 5th wave to go before a major correction like 2014/2018... Or unlike we've seen in bitcoin history? 60k-1k???
Well no need to get too excited, time will tell which way we're going and it's too...
Target for the next several months is ~20 usd
The sooner we hit it, the sooner we can start another bullish leg.
Short Term Targets are bullish ~23 usd
Anything can happen in this market, as JPM, Deutsche, USB, HSBC have all been fined for spoofing or manipulating the silver market in the past 3-4 years.
Bitcoin at a critical juncture in our lives. A tiny dominoe is about to collapse the house of cards.
Was it all by design? Is the math sound? Does a fiat collapse in the woods make a depression?
Come with me down to the depths of sound insanity.
The 1 hour had shifted. The recovery is over. In the next 6 months you will begin to understand The...
Indicators are signaling a breakdown for some time, and now momentum is building, fate has been decided.
20K target was reached from my dec 2021 analysis.
Every target hit this year.
Next up is domino contagion now that everyone has realised the crypto sphere is built on lies.
We have reserves, against 9x liabilities, in order to profit and extract...
Bitcoin has just about hit the last transient zone, 25k area and has consolidated some 2 months.
It didn't quite reach my first target, but it did consolidate in this zone hitting important price levels leaving new targets.
the 10k-5k zone is an ideal area for the next wave to hit and consolidate in, and because we hadn't hit the 15-10k zone yet, bullish moves...
Bitcoin is about to collapse in price, my feelings are either it will quickly dump to 10k or stop at 15k then consolidate between that and 25k. After that it may continue the bearish cycle or start a new bullish leg.
If it were to continue the bearish cycle targets are 1-3k, however if bitcoin can consolidate above 10k and hold then the bull isn't over and 120k is...
Now pay close attention, did you catch it? It's not that difficult to see. Look closer.
We're right at the breaking point. On the edge, so is it time? Oh it's time!
So the 1 Hour is right near an inflection point, either it will breakout here and do some serious bearish action; or it'll reverse.
The problem with...
Another gap to fill
Short Term Target 48k
Next Target 54k
Long Term Target 20k
Need to break ATH before considering bullish option, short term trades are better for now.
Bullish outlook next 6 weeks to 54-64k
If we stay under ATH for more than another quarter, then bulls have failed and 20k is probable.
Need to check wave counts.
Looks like bitcoin wants to head lower before hitting 54k maybe its a good thing, a move a little lower has a good chance to reverse and go to 64k.
Been watching a few possible wave structures play out. I'll make a post tonight with a detailed EW count.
Thanks... also can't post links or talk in chat yet... need some likes.