Given that the 50% to zero is not holding clearly it looks like we have a .618 move. Severe corrections commonly find bottom at or around the .618 from high. Given that futures expiration is behind us most likely the Market Makers have been accumulating BTC eyeing a reversal soon at or around the 24k level. Notable BTC shorting has been reported from major crypto...
Based on the chart there appear to be 2 clearly defined "Demand Zones" which I believe will be the ultimate determination on where we go from here in the crypto markets. If the "Total Mkt Cap" stays within the immediate range: 1.3 to 1.4 Trillion there does stand a chance for a reversal to the upside. However if the total market cap chart breaks below the current...
BTC is working it's way through a rising wedge with explosive potential.
After correcting a whopping 50% to zero, BTC now appears to want to test 50k soon.
Could be last chance to pick up fallen angels in alt coins as well as BTC at levels which may not be seen again until the next bear market.
Bitcoin is trying to put in a bottom here around 42000 If you look back in previous cycles there are these 35% pullbacks right before the final 4 year cycle top which in turn tends to be the trough low in the next Crypto Winter.
Gold Mining Stocks have cooled of as of late, and you can see from this chart that once again we are at channel lows for this one.
Although I'm NOT a financial advisor, I am buying the JNUG outright, and selling the December 24 100 put for a 990.00 credit which if works out will be a 10% return in less than 3 weeks.
Good Luck everyone!
Jay
Even though the S&P 500 ripped to new highs recently it is glaring to note that Market Breadth levels have declined significantly today compared to the June 8 High. On June 8 with the S & P making new highs around 3200 the McClellan Oscillator registered a whopping +450. So although the S & P hit 3600 in early September the McClellan Oscillator only managed to...
T Bond yields have largely remained in a range outside the spike highs, and lows experienced earlier in the year. Given the FED's reluctance to lower rates any further despite high unemployment figures, and tight global economic activity, higher real inflation all which are undermining the Nasadq right now. Are the chickens coming home to roost? Will the FED allow...
After putting in a right shoulder just a bit higher than the left I believe BTC is now positioned to make another run at 10k plus. I am now beginning to rebuild a Long position in GBTC. Good Luck!
Since the top this summer I have been looking for 6k BTC. I remain bearish until yet again another falling wedge breaks the support and a sell off below the support line takes BTC to another washed out low.
XOP has been in a Bear Market for a little over a year now due to recession fears, trade wars, and over production by frackers.
When you look at the XOP chart we see what appears to be a bottoming picture developing. The massive trend line that has kept price going lower for some time is now in play. OPEC cut backs and post year end window dressing conclusion I...
