SlumberJack92

SlumberJack92

DXY is touching the top of a multi-year parallel channel on the monthly chart, whilst also displaying bearish divergence on the RSI. This, to me, signifies at least a small reversal over the next couple of months. This should be buillish for stocks and crypto, which are all reaching significant levels of support at the same time. There is a lot of fear in the...

SlumberJack92

I'm liking the look of this inverse Head & Shoulders forming, as well as approaching the down trend resistance we've been in since November. RSI broke this downtrend a while ago and recently re-tested, so I'd expect to see similar happen on the chart. We're also in a descneding broadening wedge, recently bouncing off the bottom and looking to head towards...

SlumberJack92

Last time the daily RSI was this low was late May 2021 when we retraced to 0.786 of the prior run, finding support here until going on an epic 2000% run over 10 months. Following yesterday's red candle we've bounced off the 0.786 fib of the retracement from said run, which coincides with a trend line I've had drawn in since this time last year. Reversing the...

SlumberJack92

seeing a few similarities to the September breakout of downtrend on BTC.D having recently bounced of the support trend line. Stoch RSI in a similar position and looks like we're backtesting support around 40.37 before continuing up

SlumberJack92

pending confirmation of H&S pattern to break below the neckline. Once it does, I see this going down to the orange support zone at around $27 which is also 0.618 on the fib

SlumberJack92

This chart speaks for itself. On the last 2 occasions when weekly RSI was oversold, the following 43 weeks produced gains of 276-375%! We are looking to bounce off support from the 2016 and 2020 bottoms, this would be good confirmation to buy. Given the current market it would be a good idea to set stop losses below this support line.

SlumberJack92 Updated 

We just reached our Wyckoff Accumulation Phase B target, exactly as I predicted (or a lucky guess), which i drew on my chart back at the red circle in early June. We will likely retrace to 0.382 and push slightly higher (around 41-42k) but I think this will be a bull trap before going to the slaughterhouse.. The lower target for me is between 25k-22k (Fib 1.618...

SlumberJack92

So the theory I last posted looks like it could be playing out, however I've noticed that perhaps we're about to follow a similar pattern to the 2013 cycle. In 2013 we met resistance at the 1.618 on the fib, which also indicated the Pi Cycle top. We quickly retraced to below 1.272, before using this as a bounce on support 11 weeks later. 20 weeks later we reached...

SlumberJack92

I don't want to believe it myself as I, like many others believed Bitcoin was going to 200k, however a number of indicators seem to be pointing towards the end of this bull run. Using fibonacci retracement, previous runs have peaked at approx 2 (give or take) which is where we currently are when retracing from mid 2019 to early 2020. The 20 day smoothed moving...