ngordon

ngordon Updated 

Copper traded on the COMEX looks bullish. Currently at 3.20 per pound, the chart shows an Eve and Adam bottom forming between 2015 and now. The expected target of this move would be 4.70 which would put the market five cents above its old high set in Feb 2011 of 4.65. From 4.65 I would expect the market to revisit the 3.30-3.60 region to make a strong bottom...

ngordon

Will history repeat? If this is a descending triangle, the target of this move is 95.68. That price area looks to be in line with previous drops. I would expect a sharp rally thereafter.

ngordon

Today Bitcoin's 100 day MA is crossing over the 200 day MA. In the previous two cycles this event has led to huge gains. This chart I am presenting provides a few ideas: 1. The bottom is most likely in. 2. The 0.786 retracement level will most likely be a sale. The previous two cycles, the market fell 70% & 40%, respectively, after breaching the 0.786...

ngordon

Australian dollar looks like a buy relative to US dollar. The Australian dollar the copper have a high correlation of movement between them. Copper has recently made new all time highs in US dollar terms. The Australian dollar has not made a move yet versus the US dollar while many other commodities have made upwards moves. Australia is a natural resources rich...

ngordon

Dollar index fractal. This fractal would suggest a continued rally to 102-103.3 region and then a fall through then end of this decade with large decline seen in next decade, or 2030s. This fractal is just the DXY bottom from 2003-2015 flipped and mirrored. Less necessity of global dollars will make charts like this a possibility. With eastern countries doing...

ngordon

ETH is about to go higher quickly in my opinion. I have been watching the 2017 fractal and so far this move has been tracking it closely. Currently feels like ETH about to enter last leg of this bull run taking the market to 16,000. The main possible fundamental drivers would be continued mainstream adoption, an ETF approval, and the network upgrade scheduled...

ngordon

Bitcoin is about to flash a buy signal tomorrow from the hash ribbons indicator. This shows miner capitulation is over and hash rate is on the rise again. This signal does not occur often but when it does there are usually nice rallies. I would expect Bitcoin to make one last push here this year blowing away its all time high then crashing hard near the end of...

ngordon

CNY has broken a major long term trendline against the US dollar. I believe there is more upside ahead for the Chinese Yuan. The Chinese gov will try to talk down the Yuan to dollar but that will not work without some major government intervention. Just today, they announced a hike in reserve ratio requirements for the first time since May 2007. This move didn't...

ngordon

DXY has been consolidation above support all year. Major support level of 88.25 is being tested for the second time in three years. This time, I don't think it will hold. I am looking for the DXY to break support in the second half of this year and continue to fall until the second half of 2024 where it should find a bottom around 72.7. Factors which will...

ngordon

ETH target for the top of this bull market is 14000. Ether has strong technicals and fundamentals currently. EIP 1559 upgrade should propel ETH much higher. I believe ETH will outperform BTC over the next 10 months. My target is 14000 sometime between mid November and mid January. This is based off of forward looking Fibonacci retracement model and comparing...

ngordon

Looking for the next Bitcoin wave to take the market to around 75,000. After consolidation between 75,000-45,000 for 6-10 weeks, I see the market going parabolic for 2-3 months while corporations FOMO in. Ultimately I see the market topping out around 300,000 in October 2021. I think corporations who bought in around 40,000 levels will sell some Bitcoin leading...

ngordon

Bitcoin dominance on the decline. Looking for a roughly 20% retracement down to 52.5% level. Alts showing strength across the board. I am looking for a period of relatively large consolidation for Bitcoin between 40,000-22,000, at the lowest, for the next few months. Sometime in late spring or early summer I expect Bitcoin to rise huge again and find it's next...

ngordon

Crude oil traded on the NYMEX has been trading in a downward channel for over 12 years. The market is on its way to a touch of the upper channel probably by the end of this year, maybe by summer. The price rise is due mainly to a sinking dollar which is raising the price of all commodities. Demand should also increase as covid lock downs end around the world and...

ngordon

long term trend of the dollar index is lower. There looks to be a head and shoulders forming in the long term dollar index chart. From a high around 103 to the neckline of 88, the target would be 73. I would look for the dollar index to break the neckline next year, 2021, leading to swift declines. All dollar denominated assets would in turn rise in value. This...

ngordon

Crypto total marketcap chart is leading the way higher again as it did back in March 2019. Bitcoin should be headed higher soon, within the next three months at the latest. All dips should be bought as this is a bull market. Most aggressive monetary expansion in history is major factor in Bitcoin and crypto headed higher.

ngordon

Bitcoin could be in for a longer consolidation period than most expect. If it follows 2016 this consolidation could last until October at the earliest before making next leg up. I would bet on more sideways trading activity, probably hugging the 15 week moving average, for the next several months. Towards the end of the year I would expect Bitcoin to move towards...

ngordon

Good spot for a bounce here. Talk of Russia and Saudi Arabia coming to a price agreement. Crude will bounce hard and possibly take all other assets up with it. A settlement below $22 for two days would prove disastrous. Support = 22.20, 17.20, 12.35, 11.22 resistance = 25.75, 29.30, 32, 34.90, 38.5041.60, 43.75

ngordon

Record high 3 day volume bars on most exchanges set to close this evening. This is happening on top of a huge green 3-day bar showing major signs of a bottom. FED just announced major monetary efforts to support the economy. Looking for a close today above 5423 area and that should bring solid rally next week. Expect major bouts of volatility for a while through...