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Blowofftop

You really wanna go long here?!RSI near 80, MFI near ATH over 90, Blowing Up. Chart has all the details. Could top this week or early next. Overlay is a WAG. Absolute disconnect of price from reality. Selling soon IMO. Price may press higher to test the Fibo at 16,530 before rollover. Every blowoff ends in a waterfall cascade. Excessive greed gives way to excessive fear. Gonna get real dicey real soon IMO. Expect ATH ~400 in QQQ before it's done IMO. Might get an exhaustion gap up Thursday 11/04. See related ES1 chart, suggests Tues Top. This is not advice, just another tutorial about nutty price behavior. I do not recommend or hold any position now; GLTA!
CME_MINI:NQ1!
by DaddySawbucks
5
BTC Approaching To The End Of Its Cycle Even though the excitement is huge right now for BTC going to 100k or even past it, i think this will not happen for a few reasons. Aside from TA, if you've been in the previous cycles you know that whenever everyone thinks btc will reach certain target or go beyond, this price is never reached. Excitement is however needed, because it creates liquidity for whales to dump their BTC to retail investors who are chasing those last few % in BTC (while altcoins go nuts). Now to the TA. If you extend fib. ext. levels over the previous bull run you get 4.236 extension level that takes us to roughly 75k. Also if you put 2011-2013 super cycle on the bottom of 2015 (the start of 2017 bull run) you see how we also get to that 75-85k target. Not only that but we also see similarities between 2017 and 2013 bull run where top and bottoms came in 2018. If those targets where respected in 2017, there is no reason why the final target would not be 75k this year. Maybe the final blow of top will get us to 85k but i hardly believe we go beyond that. I want to also point out that even though BTC is at the very end of its cycle, it is where huge rotation of money goes into alts. Primarily to those that are still very below its previous ATH. (XRP, DASH, ZEC, EOS, BCH,...) I am not a financial advisor so non of this should be taken as a financial advise, stay safe and be well. BITSTAMP:BTCUSD
BITSTAMP:BTCUSD
by AVA37
2
BTC Finishing the main ABC correction BINANCE:BTCUSDT It sure looks to me that BTC is finishing 3rd wave that needs to eventually get above the B wave of the Mays ABC correction. If we get above ~$59600 it is safe to say that the main ABC correction is over. As 60k area acts as a large ressistence, we should expect a bit larger pullback into a 45-55k area, before another leg up that could manifest itself like a blow of top to 75-85k. This then marks the end of this bull run so BTC can finally correct back into a 15-20k zone. Also all this forms nice cup and handle. I am not a financial advisor so non of this is a financial advise. All this is my personal view of the market so i can still be wrong. Stay safe.
Long
by AVA37
4
The last two years could be a big Blowoff top Hey All, Obviously I'm not making the claim this is the very top of the market but with the euphoria in the markets about the Fed not tapering, buy the dip mentality and the excessively high valuations it should rise a few red flags on the long term look of the market. just simply looking at the bigger overall trend of the market shows this is the blowoff on a much bigger bull market and we are over 40% higher then the mean trend. i dont feel like we are going to fall 40% though. It's more likely we have a correction of 15-20% and stagnate while inflation goes through the economy. Food for thought could be worth while looking at the heavily discounted areas of the market.
TVC:SPX
by jackwheeler
Bitcoin: Alternative Pi Cycle Top Based On Diminishing ReturnsHere is utilize multiplied moving averages using robertoc's open source script. Playing with multiplied averages using days that are close multiples of pi, I may have recognized a trend. The 157 day MA (pi*50) value multiplied by 4 corresponds closely to the 2014 double peak when the price crossed the Moving average. Multiplying the length value by 2 to get the 314 day MA (pi*100) value multiplied by 4 which, when the price cross it in 2018, signified the 2018 top. Multiplying the length value by 2 again makes the 728 day MA (pi*200) value multiplied by 4 which so far corresponds to the 2021 local top. Using only the 350 day MA x 5 does not account for diminishing volatility over time, and so I don't think it can be trusted. Diminishing returns can be seen looking at the 350 day MA x 5 in 2014, when we went way above it and 2021 when we went way below it, so the change in length of the moving averages allows for the market cycle top signal to account for diminishing returns. If you do not believe in diminishing returns over time, this model can be used as a risk metric, but I think there is a more interesting trend to notice. Like the famous pi cycle top, this model also has pi hidden in the indicators; however, even the pi cycle top does not account for decreased volatility, as with each blow off top, the moving averages utilized get closer to not crossing each other. For those two reasons, I gave it the informal name of Alternative Pi Cycle Top Based On Diminishing Returns. This model will eventually stop working because every "market cycle" the length of the moving average multiplies by two. Unless we get greatly lengthened market cycles, the growth of the moving average length will outpace the growth of the length of all price history for bitcoin. This is very dubious. This model should probably not be relied upon. Just speculating
BITSTAMP:BTCUSDLong
by mcbridei
1
Truncated 5th Wave Or Just A Retest Of Support? Irregardless of direction im expecting expecting a 4-5% increase to test resistance above us. If Rejected im looking for a -20% move from lows to retest the support. What does that mean for bitcoin? looking for a move to ~48-49k before hitting resistance. If Bitcoin rejects at resistance i would be looking for a move down to 35-38k (Hard to calculate for in comparison to the total do to shifting dominance i the market). If 35-38k fails to hold as support im saying the top is in and the bull run is over. If 35-38k holds as support i think we may see alt confidence increase 10 fold. Bearish confluence: DXY broke out of a year long Falling wedge. Bullish pattern, bearish for traditional markets and Cryptos. (Chart linked below). Bond 10 year yield is bullish: Bearish indicator. Interest rates starting to increase: Bearish indicator. Total 2 and the Total 3 double topped: Bearish indicator. BTC chart currently following a blow off top pattern following the hard rejection at the 53k level. Blow off tops, generally speaking, have a bounce ~half the move from the top (65k) to the bottom (28.5k) of the structure. 65k - 28.5k = 36.5k / 2 = 18.25 + 28.5k = 46.75k / 53k = 88% With quick maths above you can see that BTC over shot the blow off top target by 12% which isn't out of the feasible range of this pattern. EW wise we may be looking at a Truncated 5th wave here: Truncated fifth waves happen when the 5th wave doesn't extend above the 3rd wave, typically happens after having a really strong 3rd wave. Following our top of 65k (End of wave 3) to our lows of 28.5k (End of wave 4) arguably we may have just seen the completion of wave 5 here with a top of 53K. Due your own due diligence and take your moon boi helmet off. Mitigate Risk. Pull Profits. Wait for confirmations. At this point this is all speculation. Follow the charts and watch for supports/ resistances and trade accordingly. At this time i am optimistically bullish, but i would be a fool to not look at the possible downside. As Always, Good Luck And Safe Trading.
CRYPTOCAP:TOTALShort
by CapitulationCalls
1
A50 - China Contracting - Personal Consumption DecliningAs Kuh Kuh Cathy Woods finds God and re-discovers "Faith" in investing - her flock discovers the very same religious experience. Faith in Central Banks ability to backstop Markets is accelerating. The phenomena is not limited to TECH, it is global and it has expanded to every Capital Stock - Real Estate, Equities, Commodities and Bonds. Crypto and the Metals Complex are the laggards. This brand of unprecedented Mania has begun its Zenith Phase. It is well beyond the irrational Mania of the DotCom Mania, well beyond. Buy buy, buy... Sellers and Intelligent observers are mocked for their plaintiff wails of objection. Clearly there is an immense danger to this, one which will eventually present itself in the near future, until then the BBB Herd will expend all the Capital Energy they can and then move to Leverage via increased Margin. Margin as a percentage of Capital Stock for Equity is frankly minimal so there remains intense upside pressure for those who begin to cheer their own successes believing higher prices are expected. Caution for Sellers here as this can become far more distended. We will see how the updated Levels for NQ ES YM trade, Friday all Futures Indices hit their Extension Targets. Earnings is dead ahead and INTC gave a clear warning, it was not heeded as "Faith" itself and its followers pressed their luck. We anticipate this to continue after the July 21st reversal period was immediately snapped up 2X. Dangerous times, Good Luck and Trade Safe.
OANDA:CN50USD
by HK_L61
1
Blow off Tops for BTC, BNB, ETH and Total2Very curiously lots of people have been asking where the blow off tops have been for crypto because they are use to seeing blow off tops on crypto on weekly or monthly charts. As the market matures it begins to move a little slower and we can see that by looking at the newer coins, BND and ETH showing a blow off top on the 3 month but BTC showing the blow off top on the six month chart. This also leads to a broader point of what charts scale to use. This rejection wicks or profit taking wicks are very clear on the standard scale. They don't look so bad on the log scale. Also, lots of people crow about doing long term analysis but it seems they don't want to consider how bearish these candles are. Seriously, how can you be bullish on this?
BITSTAMP:BTCUSDShort
by This_Guhy
5
XRP 3 Year Old Support Zone Has Been Finally Back Tested As BTC corrected as it suppose to, it caused a sudden and quite unexpected flash crash across the market, followed by another accumulation that took us slowly even lower with altcoins. Lots of people got shaken out and over leveraged accounts liquidated. For those who made it out alive ;), expect the green days to come. That is of course if btc goes up, which it probably will. With that sad, XRP is forming some kind of a bullish flag after that correction which meant a successful back test of a support zone that held us down for almost 3 years. If we break above that flag we still may consolidate in a $1.2 - $1.5 area imo. before a final blow of top which could take us to a $7-$11 area respectively. We have also managed to stay above orange rising trend line, which is a great sign that buyers are stepping in. For all of that to happen BTC has to give us an clear indication of recovery and i am very optimistic that it will. If not, we may go down a bit or at least go sideways with XRP. I am not a financial advisor and non of this is or should be taken as a financial advise. Have a great day. BITSTAMP:XRPUSD
BITSTAMP:XRPUSDLong
by AVA37