bitcoin:native We are now in a clear, confirmed downtrend. Coinbase premium is deeply sustained negative again
This could last a few days or more...
Much like 3rd April...
Watching for the Coinbase premium closing positive on the 30min and confirmed on the 4hr to start scaling in heavy again.
When we get a second confirmed positive 4hr, LOAD THE BOAT!!!!
This would be a solid scenario the launch for a max rip pre Nov - if trump wanted a ATH before loosing midterm elections.
Stock just went parabolic for 9 solid weeksโฆ btc could do the same, never say never!!!
$BTC
The monthly open pattern I pointed out a few days ago is playing out once again.
Instead of the typical monthly open pump, June opened with downside, which I said was likely to transition into a larger correction according to this pattern.
Now, only six days into June, price is already down almost 20% from the monthly open and has swept the low at $60k.
However, if BTC continues to follow the pattern closely, it would suggest that there is still some downside left.
The last two times we saw this setup, price went on to correct by at least 25%, which would put BTC somewhere around the $55k region.
Dear everyone ! Just follow Coach @forexstophunter , become a member of Aksel's @TechCharts and Peter Brandt's @factor_members . Read some books 15 mins before bed (still only know 3-4 patterns myself ๐). Special thanks to the above-mentioned trio who got me out of this kinda FOMO trouble ๐ But remember - no chart pattern beats personal risk management and emotional control. Just donโt be this guy ๐ #Solana solana:So11111111111111111111111111111111111111112 #Sui sui:native #TerraLuna $LUNA #Ethereum ethereum:native #Crypto
The $BTC inflowed to the accumulation addresses yesterday was 33.4655k.
A massive $BTC infllow has been occurring for three consecutive days.
In this downtrend, whales are absorbing all the selling volume from retail investors.
Nasdaq drops 1,000+ points.
Just before the selloff (June 3), Short Term Update editor Steven Hochberg warned:
"Itโs still all about technology... The Nasdaq rally looks like a completed impulse wave."
He noted a key divergence as the Nasdaq 100 made a new high that wasn't confirmed by the broader market - a classic sign of weakening participation.
Complacency can be costly.
See what's next for stocks, bonds, gold, silver, forex and the economy in the newly published June Financial Forecast: https://t.co/UECUtZpNLC
Absolutely incredible.
ALL 7 hourly candlesticks on today's Nasdaq 100 chart were red as tech stocks fell in a literal straight-line lower.
Biggest drop since "Liberation Day."
For people who are worried about the market today, I get it. This stuff is very stressful.
So I put together a chart of all of the times the VIX (the "fear index" of the market) was up over 30% in a day (like today) in the past ten years.
23 out of 25 instances the market was higher one month later. The only two times it wasn't was Feb 2020 when Covid hit the economy in March 2020.
What is the underlying message? When people are afraid, they make bad decisions. Do the opposite.
Attached is a chart summarizing my results.