Nothing has changed, we rejected off the level I used to call top last June, for whatever reason the majority were not paying attention to this weekly close trend line from 2021. Lose 27.2 daily close today there’s a high chance we visit 23 then it’s up to the gods if we move down to 18-20 and then 15-16 before wicking 11-13 EOY. 2024 we begin to go parabolic,...
A 2001/2 style double top into Q3 bottom. Again, I believe Q2 earnings will begin to reflect what’s unfolding now and I doubt the fed cuts rates until Q4 potentially Q1 2024. Markets always bottom after the pivot which could be a pause in May or June. Stocks are also technically overvalued and despite the 500 looking strong, majority are losing steam as a few big...
I’d like to see a push into the first week of April then start the move down slowly as shit begins to hit the fan. Catalyst for a new low will be Q2 earnings.
Expecting a wick off the black line then accumulating within the redlines before moving up: CPI and fomc should see this play out.
Ascending channel looking to break down into a late March early April. Target 18,000. Breakthrough the prominent bear market convergence point and you will more than likely move down to 11/13,000 which is where I believe we bottom.
I see us bottoming in late October followed by a rally into November or December before BTC makes its decision on whether we extend the bear in line with the macroeconomic environment, or we begin a slow rise into halving.
Each and every time we close below the blue lines, BTC crashes. I am seeing a very similar setup to early January with bitcoin hugging the blue trendline. Back in December, I called on Twitter that if this line is lost, you will get your free fall.. It did not disappoint. Link to the tweet below. I'm seeing a big push to close below 38.5 in the coming days as...
It's simple. These are the only lines that matter.