A lot of messages today. Can’t answer them all. Gripped by fear.
Have published the above chart as an add-on in other ideas but felt it deserved its own post given the number of messages.
The market bottom is in. The bottom was signalled when the 700-day EMA (yellow) crossed down the 150-day SMA (Red) as shown on the above 10-day chart.
This correction we’re now seeing is perfectly normal and healthy with a correction to the 0.23 Fibonacci level just as before in February 2019 following the printing of a ‘great buy’ signal. The market needs to flush out the flotsam and jetsam trying to catch waves.
The above chart is not the subject of this idea, however. Just a back story. The chart that has caught my attention is the alt-token market cap TOTAL2.
The two moving averages that called the market bottom on Bitcoin are now doing so on the alt-token market capital.
Look left. In the months that followed this cross the alt-token market went to make remarkable gains. There was nothing else to do.
Think like a proton and stay positive.
Ww
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I’m seeing the heated feedback below. Be nice. There’s a lot of time and study that goes into those ideas. In an effort to keep published charts simple, other pertinent information is left out. Of course keep the idea too simple and the flood gates are open…
Other factors that were considered before publishing this idea..
1) The green vertical strips on the 2-day chart below will only print on or about during market bottoms. When a buy signal prints and confirms around the time of the green strips then I'm very happy to call that market bottom as in.
2-day chart
2) The Gaussian channel flipping to red on the 8-day chart has been an awesome signals for market bottoms. Never printed a false signal.
8-day chart
3) Lastly the dollar. For most market participants the dollar today is the same as a dollar in 2017. I know that because of the push back on ideas for various targets. There’s very little appreciation for the weakening of the dollar from an investment perspective despite all the inflation of the currency. To measure this the TOTAL2/M2 supply is studied. On the 10-day chart below a ‘great buy’ signal was printed, this told me the bottom was in. Latterly the supply bounced off the golden ratio. It doesn’t get better than this.
The 10-day chart
Ww
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The last 'incredible buy' that printed on the 18hr chart below saw the market appreciate by 50%. Another has just printed. This will take TOTAL2 to the 900b area.
Price action is on the yellow dotted line, that line is the golden ratio multiplier. You can see TOTAL2 is now on the golden ratio. Do not ignore this. Look left.
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The 4-day chart below is a little different, it considers dominance like TOTAL3 (market total but without Bitcoin or Ethereum) and also without USDC and USDT market capitals. Falling stable coin dominance is valuable information.
All four considered and this is what you get. Follow the value...
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As each day passes the strong buy signals are narrowing down to the smaller time frames from the higher ones. A large move is nearing...
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TOTAL2 recovers the 2-day / 5-day SMA after the falling wedge breakout and bounce from the golden pocket. The flagpole extension suggest the market capital of TOTAL2 should increase by 200b in the days and weeks ahead.
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The alt-token market is about to jump up 45% / add 200b+
See the bull flag on this 3-day chart? See the measured extension? See price action has now found support on past resistance? See the price action bounced off the Golden Pocket?
The signs are all there, look left.
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Do you see? The alt-token market is about to increase by 200b
Dude I'm sorry but... What the fuck is that trendline? You don't know what you're doing. Plus you're publicly lying to everyone as past bottoms were -85%. Just stop and DCA for your own sake. You'd rather enjoy these red slopes than catching knives.
Kalete
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@GreenValleyTrading, I believe this analysis is on point! Did you happen look left? Do that before calling anyone a liar especially since charts don't lie.. I agree with DCAing but this chart screams that the probability of alts bottoming out is high. Best of luck!
wargolynch
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@Kalete, You sir are a liar. The USCPI currently looks like 75'. Inflation is high and people are less likely to all in their funds in any market. As a result, SP500 is lacking momentum on this bounce and will most likely pursue its drop. On the weekly chart, there is an obvious weekly hidden bear div forming right below a very very very strong resistance as the Volume Profile is showing us. We could also mention the inexistant volumes on this bottom. Plus companies net incomes are low and apes are FOMOing AAPL like overpriced iPads, the stars are aligned and soon they'll have to look for real bananas at the supermarket. What about BTC? It has always been correlated to the stock market. BTC is only down -75% since ATH whereas it used to drop -85% during past bear cycles, and that was not even in times of poor macro situation. On the weekly chart, volumes on this bounce are lacking, and we can't see any apparent bullish reversal candle. The next important demand zone starts at 12k according to the Volume Profile, which is also the monthly MA100 price level. The monthly MA100 was never retested before, but as the market capitalization grows the cycles evolve. ===> As a conclusion, ALTcoins are unlikely to conclude their bear trend here considering BTC could likely retest its current bottom. Plus why would you even name an indicator after the alt market? It can be used for any speculative asset. I will certainly not pay for this dude's ski vacations.
Gunslinger2005
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@GreenValleyTrading, dude you need some chill. I completely agree that alts and btc can fall more. but you need not stalk or harass people that have different ideas. if there was just one idea... what would be the point of the platform