Google nice sideways action sitting on the weekly 12ema.
If the nasdaq can put in some type of bottom, it's positioned well for weekly higher low.
$GOOGL
Major support in Silver comes in at $54
Here is how the dynamics of price behavior works:
Late comer bulls who bought >$90 missed the top and have sworn to themselves that they will never sell out
In fact, they have stated their intent to buy more at $65 and more at $60
They will mark the bottom by puking out their positions below $60 swearing to never trade Silver again
This is how bottoms are made every time in every market be it Silver or Bitcoin or Soybeans or Sugar or the S&Ps
$SI_F #silver
@BigCheds@BobLoukas We on the same page, I just love to see two legends interact and have a different or slightly different opinion. Especially when you use different methods. Would love to see you two interact here and there on YT again. ๐
Or do a quarterly BTC live crew meeting to interact a bit
I was a vocal, raging Gold bull since the $2k breakout in 2024, but it's important to lose the bias once a move has come to an end.
The first phase of the gold bull peaked with the blow off move in Jan. This remains a rebase period. $3,500-$4,000 is the range to accumulate again.
@junglefunk_@BobLoukas if you have some time to respond I would love to hear your opinion about this. Both of you have interesting perspectives and would love to know your thoughts on this ๐
@junglefunk_ You really think if we loose the ema12 the multi year bull market might in jeopardy? The way I view it is that this is roughly half way (time wise) from the top
@junglefunk_ Hmm I have assumed that there are no big red flags with the Gold macro trend unless 28th October lows are breached (around 3.8k). That would still be a higher low after the parabolic advance + Gold was due a pause from the cycle (time) perspective as well ๐ค
@Rory_Shamrock@BigCheds He was off by 3k and guessed the bottom like a year prior when everyone was still thinking the bull market is onโฆstill not good enough? Lol
Do you remember the 18.5k? ๐ค
@BigCheds I have never doubted you for a second bro! ๐
Thats why I got 10% BTC and 90% Cash since like 100k ๐ช
Any opinion about Monero and where the large timeframe bottom might be forming? Thats the only alt that I am interested in atm.
Besides the gold Cycle count, the tell is Silver. It never holds up like this 5 months after a blowoff unless it's preparing for the next move. In a bull market silver advances via blowoff moves generally 12-24 months apart.