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A thought experiment of how far we "Could" go down "if" we use the actual top as the point to count waves down in the RSI, we could see a much further drop than expected. It has happened before and the RSI patterns more closely resemble 2013's start of bear market. 2014's end of bear bottomed out at the peak of the large bear market rally ending in April 2013. This would put us at $17,000 best case scenario and $11,500 worst case scenario. This would also mean a break down of giant key trendlines. We have since broken down from the trendline covering the 2015 bull run and we are sitting at the last one captured by the covid capitulation. This is not to say we "Will" go down to these levels, but would it be a surprise if we did?
BITSTAMP:BTCUSD
by stuco
Crypto's previous market cap high Market cap is heading back down again to test the last high of the 2017 bull run. Approx 763b market cap was the last bull market high. With BTC having already breaking the last bull run high for the first time ever, will we see the market cap of crypto do the same? if we do my prediction is BTC will drop to at least 12k and ETH to at least $700 but I am hoping it will drop to $300 drop which will line up perfectly with its usual percentage drop of around 94%.
CRYPTOCAP:TOTAL
by Mcus12
Bitcoin capitulation 2022Since we are experiencing many market factors like high inflation and recession fears along with Fed rate hikes for 2022 and also the overwhelming defi platforms going insolvent this year the price of Bitcoin may not be at its bottom point yet. This is actually my first ever bear chart analyses for the next 6 months. It is apparent that the expanding cycle theory may no longer have an effect for this year. Unfortunately, we are faced with too many negatives for the 2022 bull peak for Bitcoin. Now we have to sit tight and see when we will come out of this bearish zone and then start thinking about the next bull. We broke the 2017 Bitcoin high of $19800 when we pierced down to the $17K level. The estimated bottom for Bitocin in this bear could go as low as $10k according to Garreth Soloway, a well known and highly respected charting expert.
BNC:BLXShort
by altcoinb
1
Corn Consolidates Ahead of USDA Report Corn Fundamentals: Corn futures have traded both sides of unchanged in the overnight and early morning session as prices consolidate ahead of end of month, end of quarter, and all-important USDA report. The range of estimates for acres comes in from 88.4-91.0 million. In March the USDA was at 89.5. The average estimate for US corn stocks as of June 1 is 4.345 billion bushels. In last year’s report we were at 4.111. Technicals (September): Consolidation is the name of the game as we inch closer to the highly anticipated USDA report. With the market chopping around and not really going anywhere, many of our support and resistance levels remain unchanged. Resistance levels come in near 680ish and more significantly 700ish. The upper end would be a retracement of last week’s secondary breakdown point and represents the 100-day moving average, not to mention the psychological significance. On the support side, 645-652 ½ is the pocket the Bulls want to defend. Bias: Neutral/Bearish Previous Session Bias: Neutral/Bearish Resistance: 678 ¼-684 ½**, 697-701**** Support: 645-652 ½****, 624-630****, 589 ¼*** Futures trading involves substantial risk of loss and may not be suitable for all investors. Trading advice is based on information taken from trade and statistical services and other sources Blue Line Futures, LLC believes are reliable. We do not guarantee that such information is accurate or complete and it should not be relied upon as such. Trading advice reflects our good faith judgment at a specific time and is subject to change without notice. There is no guarantee that the advice we give will result in profitable trades. All trading decisions will be made by the account holder. Past performance is not necessarily indicative of future results.
CBOT:ZCU2022
by OliverSloup_BlueLine
Soybeans Find Their Footing Soybeans Fundamentals: Soybean futures are higher this morning after yesterday’s crop progress report showed a drop in good/excellent conditions of 3%. Keep in mind that we are still 5% better than where we were at this time last year. All eyes will be on Thursday’s USDA report. The range of estimates for planted acres is 89.2-92.4 million, the USDA was at 91.0 in March. The average estimate for US soybean ending stocks as of June 1 is .954 billion bushels. Last year at this time we were at .769. Technicals (August): Soybeans are higher this morning as the market works to retrace and recoup the losses from the big down day last week. In yesterday’s report we talked about our pivot pocket at 1533 ½, stating “If the Bulls are able to chew through this level, we could see a bigger relief rally take us back to the other breakdown points from last week, which are anywhere from 30 to 70 cents higher.”. With that in mind, we would not be surprised to see additional relief come into the market ahead of the USDA report on Thursday. Bias: Neutral/Bearish Previous Session Bias: Neutral/Bearish Resistance: 1560-1566***, 1592-1597*** Pivot: 1533 ½ Support: 1494 ¾-1500****, 1451* Futures trading involves substantial risk of loss and may not be suitable for all investors. Trading advice is based on information taken from trade and statistical services and other sources Blue Line Futures, LLC believes are reliable. We do not guarantee that such information is accurate or complete and it should not be relied upon as such. Trading advice reflects our good faith judgment at a specific time and is subject to change without notice. There is no guarantee that the advice we give will result in profitable trades. All trading decisions will be made by the account holder. Past performance is not necessarily indicative of future results.
CBOT:ZSQ2022
by OliverSloup_BlueLine
June W.5: Medium-term trend signal!Hi friends, I hope y'all had a fantastic weekend and are ready to finish this month strong ;) Today, we have 2 possible sell trades on this baby. Last week I shared a trade idea on this instrument and we missed the trade, however, the price didn't reach our take profit point which that gave us another opportunity to catch the bearish trend. This trend is derived from the monthly that is in the huge bullish half a bats level 2 formation that will either bearish bounce off or break the 8 m.a that hasn't been retested for 4-5 months to confirm the trend-continuation. So we looking forward to taking a counter-trend trade, but there are 2 possible scenarios that will determine in getting the trades or not. Bulls: -If the price forms a bullish reversal pattern that leads it to bullish break and retest the Daily H&S Neckline 2 together with the 50 and bullish short-term m.a's, that will dis-confirm both trades. Bears: -If the price bullish bounces of the Weekly Neckline 3/Daily H&S Neckline 2, 50 and 8 m.a's with a bearish reversal candle or pattern close, that will either trigger what I call an "H&S A-E.3 SELL signal or H&S B-E.1 SELL signal". That's the first trade signal. For the second trade signal, after the price has trigger the first trade and proceeds to drop and break and retest the 1st Daily Ke Lvl, that will trigger what I call an "H&S B-E.2 SELL signal" that will lead to a 2 level drop to the last take profit point. That drop will form a big double top on the weekly, and it be visible on the monthly as a mini reversal pattern. That's it for today. I hope you found value in this trade idea. If you have a different concept in mind, feel free to share it in the comments section or in private, I'd love to know your thoughts! Stay Blessed, Doji-2k1.
TVC:USOILShort
by Doji-2k1