Traders,
As stated in my video on Sunday, all charts/indexes that we have been tracking and utilizing as leads for our crypto price predictions are still right on track.
A quick review (left to right) shows:
- The dollar has found support and, if my overall thesis is correct, could bounce here and travel up to that 107 target before dropping from our bearish ascending megaphone pattern
- The VIX has also found support and could likely bounce up from here.
- Gold (reppin' precious metals/commodities) has formed a gap above current price. Likely sooner rather than later, it will look to fill that gap and continue its upward trend to our target of 232 before pausing again.
- SPY (reppin' stocks) has touched the bottom of my red channel according to expectations and may now likely continue downwards into the orangish/yellow channel once DXY, VIX, GLD bounce and turn up again.
- NVDA (reppin' mega corp leaders) has a gap below which it will likely look to fill sooner rather than later.
If DXY, VIX, and GLD bounce while the stock market, lead by mega corps like NVidia, continues down, it will put pressure on our lead crypto Bitcoin which will likely follow. Alts, though as speculated previously may have formed their lows, would likely retest their recently printed lows as support.
Trade accordingly until one or more of our charts can prove me wrong.
If I am wrong about further pullback, a local bottom is likely in and we will continue our WAVE 5 blowoff top in stocks. Bitcoin will exaggerate this price movement. Alts will absolutely fly and blow minds.
We'll know soon.
Until then best on all your trades,
Stew
As stated in my video on Sunday, all charts/indexes that we have been tracking and utilizing as leads for our crypto price predictions are still right on track.
A quick review (left to right) shows:
- The dollar has found support and, if my overall thesis is correct, could bounce here and travel up to that 107 target before dropping from our bearish ascending megaphone pattern
- The VIX has also found support and could likely bounce up from here.
- Gold (reppin' precious metals/commodities) has formed a gap above current price. Likely sooner rather than later, it will look to fill that gap and continue its upward trend to our target of 232 before pausing again.
- SPY (reppin' stocks) has touched the bottom of my red channel according to expectations and may now likely continue downwards into the orangish/yellow channel once DXY, VIX, GLD bounce and turn up again.
- NVDA (reppin' mega corp leaders) has a gap below which it will likely look to fill sooner rather than later.
If DXY, VIX, and GLD bounce while the stock market, lead by mega corps like NVidia, continues down, it will put pressure on our lead crypto Bitcoin which will likely follow. Alts, though as speculated previously may have formed their lows, would likely retest their recently printed lows as support.
Trade accordingly until one or more of our charts can prove me wrong.
If I am wrong about further pullback, a local bottom is likely in and we will continue our WAVE 5 blowoff top in stocks. Bitcoin will exaggerate this price movement. Alts will absolutely fly and blow minds.
We'll know soon.
Until then best on all your trades,
Stew
Stewdamus Trades -
Prophesying the price action of markets one chart at a time.
Crypto predictions, targets, how-tos, and much, much more!
Never miss a prophecy. Sign up for my free newsletter at:
stewdam.us
Prophesying the price action of markets one chart at a time.
Crypto predictions, targets, how-tos, and much, much more!
Never miss a prophecy. Sign up for my free newsletter at:
stewdam.us
