Cisco
SPX AND BITCOIN TECHNICAL ANALYSIS 16.2.2024
SPX AND BITCOIN TECHNICAL ANALYSIS 16.2.2024
#SPX #BITCOIN #TECHNICAL #ANALYSIS #16.2.2024
“Financial Freedom”
SPX AND BITCOIN TECHNICAL ANALYSIS 16.2.2024
Your Number One YouTube Channel looking at analysis, trading and investing in the Stock Market and wider Asset Classes. Financial Freedom YouTube Channel will help you take your trading and investing to the next level and become Smart Money. We…
source
To see the full content, share this page by clicking one of the buttons below |
Hail to the king baby as Duke Nukem would say
There is lots of insider trading going on…stocks are being dumped in mass.
BTC defies all physics and logic because the crypto currency market essentially has their own federal reserve. tether printer goes brrrrr, btc goes up. I'd be very cautious putting any money in this market.
I don't use elliot wave at all for crypto because Crypto follows the 4 year halving cycles. Before the halving cycles, btc makes a mid top at the .618 and sometimes it wicks above it by 6 percent. .618 is at 49k non log line right now. Then the all time peak of the market comes the year after the halving. There's a correction everytime btc hits or wicks above the .618. It's happened 3 times. 3 data points is a strong trend see below. Right now it's wicked above the .618 a little bit and could go a little bit higher but not much then a deep correction pre halving. Remember pre halving rally in 2019 when everyone though new ath was coming at 14k? Tough to say how low we go now but 20-40 percent correction before new highs end of year. This looks like a double top right now.
2012- mid top at .618 then correction before halving
2016- mid top at .618 then correction before and into halving. 778 to 517.
2019- mid top at .618 went above and then correction before halving. 14k to 7k range pre covid.
2020 – mid top at .618 went above a little due for correction – 52-55k -?
Ath's come the end of the year of the halving. Then the all time peak of the market comes the year after the halving.
2013, 2017, and 2021, cycle peak tops all came after the halving. New peak price mid to end 2025.
How about this for a count… 64K top was wave 5 high. Then it did an ABC correction, B wave into 69k, C wave down to 15.5K. Now we are ABC back up to where we are now, almost at the ending of the C wave
Alessio rastani did an in depth count on bITCOIN I think a little more than a year ago and than next vid found another chart that extended further back.
Great analysis. I expected more consolidation from Bitcoin at least but it seems like the ETF flows are driving prices higher. BTC is a liquidity junkie. I've had to adjust my own analysis and due to flows now reckon will get an accelerated cycle. I'm no EW expert and won't pretend to be so can't comment on the counts, but the 84 > 69 > 100 align pretty closely to my own analysis. Also take a look at Chinese stocks like JD, Baba, Meituan.. PBofC are pulling the bazookas out and we are in a global asset melt up so I don't see how China keeps collapsing, I'm calling a bottom.
Why is he bearish so close to the bitcoin halving ?