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Clownshow

The market is at critical supportI multiplied SPY, DOW, Nasdaq and TLT together to get a broad picture of the state of the US market and have noticed this channel here. We are now at a critical bounce area established by the covid bottom and 08 bottom. If it doesn't hold this, then to me it would be safe to assume that this decade long trend is over and it will be reshaped into a new trend after lots of pain just like in 08. I'm obviously hoping for the yellow line to play out, but it will requite lots of competence from the leaders of the banks and the world to get it in that direction, competence that seems to no longer exist. If you look at raw material charts like steel, wood or even gold and silver, one would assume the deflation goal has been reached. However, the FED's real goal has never been to fight inflation , but to fight low unemployment, because businesses would rather do share buybacks than invest in their employees. thehill.com And we haven't seen news of mass layoffs yet, or government bailouts of failing companies, so Powell's thirst for homelessness hasn't yet been quenched. You can also see that CPIAUCSL has flat-lined since May and the last time it did this after a big ramp up was just before the huge waterfall in 08. I'm not sure how much stake to put in that correlation though, since it has only happened once on the chart. It still is something to be concerned about though. UK has reached their pressure limit yesterday, so there's some bullish news. As the UK starts QE, it should put pressure on Powell to give up his tough guy act after messing up so badly in 2020-21 with the endless money printing. If this support fails, I think something like this chart I made earlier will be the more accurate one: This chart uses similar calculations, but instead divides by US10Y instead of multiplying by TLT, this gave me more data to work with, but also changed the chart a little bit to show more bearish possibilities. But I think this is generally a really safe spot to start going long for a bounce and then just keep a stop below the thick support line. Interestingly, the darker blue line and thick blue line are acting as support at the exact same spot. I always find coincidences like that in charts interesting and to me usually means there's even more support there than just one line. We can't get 100% bullish until that orange megaphone resistance is broken though, so keep that in mind. Thanks for reading and good luck out there.
AMEX:SPYLong
by Lynxys
18
It’s the hard block lifeIt’s the hard block life for us. It’s the hard block life for us! ‘Stead of breakouts, We get bricked! ‘Stead of growing, We get grift! It’s the hard block life! It has been a tough week for crypto, so I have been meditating upon my 3D-Printed Shiba Inu Statue and this revelation of a 3-year exit plan came to me. It will provide me a reminder of the common sentiment and signs throughout the next cycle to watch out for if things repeat themselves yet again. I believe the only real value that bitcoin has provided to the world is the halving events. If bitcoin never had halvings then no one would’ve ever cared about it. At the end of the day, all humanity wants is a good ol’ Ponzi Scheme. But bitcoin is no Ponzi Scheme, no, it’s the greatest Ponzi of them all. Because it has a guidebook on how to actually make money from it embedded into it. The pattern has been very simple every time, buy before the halving, sell about a year after. But if it’s so easy though, then why do people loose money? Well, the greatest challenge is falling into the trap that bitcoin will actually change this world for the better and revolutionize currency and end tyranny and money printing and inflation and taxes and government corruption! Lawl naw. None of that really matters to people. All anyone ever wants is growth and liquidity. A good example is why would a worthless dilution coin like doge get a huge pump like it did the past couple years? It's simple. The new gen missed out on those big bitcoin gains and wanted a pump of their own, so pick the most meme-able small cap crap and you will be good to go. So, let’s look forward to the next halving event to attract a new generation of higher fools, to then sell the top to because that’s what this world’s designed for! Maybe we’ll even get a new worthless coin to ride? *** I have a feeling though that this next potential top in bitcoin could be it’s last. Crypto is continuously running out of higher fools with it’s increasing market cap, the only fools left with the large enough capital to put a dent in the price are corporations and governments. I know there’s no shortage of incompetence going around in government, so that gives us lots of hope. Imagine the irony that the governments are the ones to buy the top as everyone else dumps on them? I also have a crackpot chart below to back up this feeling too. I don’t know what the reason for its downfall will be, maybe a great new tech superior to crypto itself comes out and everyone dumps to flock to that, or maybe our governments from a global totalitarian coalition and ban use of all crypto apart from their own FED sponsored “regulated” Inflation Coin, or it could just go stagnant and sit at the higher prices for eternity with the halving events being the only thing to sustain its value. Many people are also thinking that crypto is bottomed now after that dump and it is smooth sailing from here, but I have my doubts. I think we could eventually see a small rally and get to May prices, but not likely to see new highs until the halving. This area seems to be a good accumulation area though, but I won’t be surprised if bitcoin can hit 12-13k, I’ll even sell my exclusive 3D-Pinted Shiba Inu Statue on opensea to buy more bitcoin if it hits those prices. I’m also glad I didn’t fall for that crypto “breakout” that dumped after the latest crypto ponzi scheme bust. I always had a feeling it was a phony breakout because doge seemed to be the thing fueling the rise in crypto, and as they say, “A rocket can’t be fueled by a dumpster fire.” I was curious though where the circus got all that liquidity for doge to rally so well. Anyways, the recent flat consolidation reminded me of 2018 and the big dump following it. I was wondering if it would continue dumping to 12k area with this pennant pattern and then watch for a nice cup-like pattern to form: It is great that everyone hates crypto again. Historically when crypto ponzi scams tank the price, it usually has been a good time to buy hard. I’m just waiting a tad longer just to see if anyone else goes bust as margin calls and bank runs tend to have a waterfall effect. Finally, the Crackpot Chart Fib Spiral Now with this hocus pocus, you can see the fib spiral curiously acting as resistance all throughout bitcoin’s existence. Now we are nearing the peak of the upside of the spiral. Does this mean bitcoin will fall with the spiral? Only time will tell. Something I will be watching years from now though. Breakout Blocks I don’t know what to call these but they’re the purple blocks that show the previous high and end when the chart breaks above that. One worry for bitcoin is its starting to break down below the latest and thinnest purple box. This has never happened before! This shows me that the structure of bitcoin is slowly crumbling. The boxes are getting thinner and thinner too, obviously showing less and less returns as time goes. Which means less and less interest from the hopeful gamblers! Rising Wedges Bitcoin likes to make a rising wedge and then break down out of that rising wedge to form a new, less steep one. We can now see that bitcoin has broken out of the yellow rising wedge and I predict it will follow something like the green one. I don’t expect it to ever cross back into the yellow wedge again if it continues this pattern. Stoch Triangles Next, we see the triangle patterns on the stoch that I highlighted. These are very cool and show clear moments of breakouts and breakdowns. What’s amazing is its reliability and how frequently bitcoin has done this. I’ve also seen these patterns in other stocks and when I ignored them, I sorely regretted it. IMHO it is the most reliable and powerful indicator pattern I know of for bitcoin. And it is nearing a breakout very soon, so keep an eye on that too. TLDR: Just buy before the halving, sell a year later. Don’t believe in anything or trust anyone, especially these kinds.
BITSTAMP:BTCUSDLong
by Lynxys
4