bmrm98

bmrm98 Updated 

bearish wedge in price and on stoch (same for many right now,) i dont think theres much steam left in this engine.

bmrm98

correlation doesnt always mean causation, but the stoch, rsi, and price all printing a bearish wedge has me intrigued. there may be one last small bounce off the bottom trendline to test the 100 at the top, but even that isnt guaranteed now.

bmrm98

well, i was iffy about if we were gonna test the 100. being that the stoch is in a wedge, the rsi is in a wedge, and the price is rallying on low volume, i expect us to test then decline the weekly 100 at around 33k, we'll call it 33333. if we break above, i will finally stop my nihilism.

bmrm98

with divergence indicators across the board, i am not sure if there is much more momentum for another leg up. at first, i thought we'd touch the weekly 100 before breakdown, but based on daily indicators i dont think its possible. heres the weekly view

bmrm98

i take the lower high on macd as confirmation the price will turn down.

bmrm98

not only are we seeing a rally on super weak buying, but this stoch rsi wedge is printing beautifully, upside is limited at 100 sma which interlining exactly with my old trendline. this would be the 2nd denial since the top in dec 2021.

bmrm98

the way the past couple of years has been, its anyones guess as to how this unfolds.

bmrm98 Updated 

things still look interesting, we will definitely see how this one plays out. i think this recent rally is mere speculation due to the fed/banking crisis. would bitcoin survive an asset selloff from major bank failures?

bmrm98 Updated 

just a more drawn out version of my other charts, wrote most of what you need to know on the chart. theres a slight possibility a recovery bounce occurs off the .236, but i highly doubt it.

bmrm98

without saying too much, i see two possibilities here 1. we are about to see the largest economic collapse in any of our lifetimes 2. we are about to see the kickoff of hyperinflation either way, i think it might be a good time to hold some silver and gold. crypto isnt decentralized, dont trust it.

bmrm98 Updated 

im seeing this exact chart on a lot of major stocks right now (will publish a few more, blackrock included.) i know this isnt that massive of a target to call, but if this level breaches we lose the support between the covid selloff and most recent downward momentum, which means we will likely see a lot of panic selling across the stock market. dow is more of an...

bmrm98 Updated 

being that this wedge is supported by indicators, i feel it has a high probability of playing out. there is already news of a housing selloff beginning (as a 22 y.o renting, im pretty happy about that lol,) it is only inevitable blackrock corrects with it.

bmrm98

we've already begun sliding from the first time i posted this idea. on the monthly (and 3m,) the MAs are much more strongly respected. if we blow thru the 50sma we will likely be moving back to 2008 levels.

bmrm98

many stocks are in the same pattern right now, the 20 that propelled us up has now become resistance, now its time to move down the MA totem pole.

bmrm98

all just speculation, but being how weak things are currently looking i do see this as a possibility.

bmrm98

they have been trying to push this off as long as they can, clearly this is a dead cat bounce. what goes up must come down.

bmrm98

this is all just food for thought, but i truly think we are at the infliction point of some very bad economic crises

bmrm98

we wont know where we land until we have arrived there, but the macd says a lot. i expect a massive move.