brettdiamond89

brettdiamond89

Dark Orange: Price action since the RSI Peaked. Light Orange: Price action from current RSI location to the bottom. From the current RSI location: 2014: -75.66% 2018: -72.06% 2022: -58.47%

brettdiamond89

ETH has closed below the 200DMA 6 times since 2018. The average breakdown was -48%. The best outcome was -16%. The worst was -87%. A 48% drop after the 200dma break, would put Etherum around $950.

brettdiamond89

This isnt the cleanest H&S setup....but still looks like one to me. The top of the Head to the base of the neck would be a near perfect gap fill. We need to get to the bottom on the right shoulder first and close below the neckline for this to play out. AMEX:SPY SP:SPX NASDAQ:QQQ #Nividia #NVDA

brettdiamond89

May be time to short $NFLX. I could see this heading to 351.

brettdiamond89

In the 2000 crash, we had a clean breakout in the $SPX. It retested the support, bounced, then crashed straight through it. In 2022/2023, we are seeing a similar event. We just broke through the year long resistance. We've retested it as support, and are now heading back down towards it.

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brettdiamond89

Since 1969, these events have happened in this order 100% of the time. 1) Unemployment bottoms and begins to rise 2) Recession 3) #SP500 makes a new low Watch this video for a better explanation.

brettdiamond89

1) Recessions (Grey/Green rectangles) have always occurred after the unemployment rate reached a low and began to curve back up (Blue line). 2) The bottom has never been in before a recession (orange circle). #SPX #NASDAQ #Crypto #Bitcoin #Recession #SPY

brettdiamond89

BTC is completely a very similar pattern that it had from Jan - March 2022. New lows incoming.

brettdiamond89

The patterns of June 2018-December 2018 are feel very similar to what we're experiencing right now in Bitcoin. We're seeing lower highs after each pump, which means the sellers are in control still. I believe we will soon see a capitulation event to send us to new lows in the coming weeks.

brettdiamond89

It looks like we may be in another sideways pattern/accumulation phase for another week. I think it will retest resistance at the $19,600 area where we have some resistance, then eventually break down to retest the $17,500 area where we saw bear market lows.

brettdiamond89

Following a similar pattern that it did at the end of May.

brettdiamond89

I believe we have two scenarios. We break below $1,000 in the next few days and see $700. Or we have a rally before the final drop to $900.

brettdiamond89 Updated 

We're currently seeing a very similar pattern to December 2021. We Saw a big wick followed by 17-20 downs of a downward pennant. In Dec. 2021 we saw a big pump that broke above the resistance (thin blue line) and then it continued to fall another 35% before it had a relief rally. Right now we just got the big pump to break resistance out of the downward pennant...

brettdiamond89

Do people price NFT's in USD or ETH? It seems that people still value the USD price more than ETH. You can see that in this trend as the MAYC price does up with ETH does down and visa versa.