this dip might be bullish
THE PRIMARY WAVE THREE thread and finding the Intermediate wave TWO corrective low
Started by
senorBS
, Mar 05 2021 02:27 PM
2512 replies to this topic
#412
K Wave
-
- Traders-Talk User
- 27,084 posts
Member
Posted 12 April 2021 - 08:05 AM
Bitcoin looks just about ready to make big decision...all coiled up....
That spike down to backtest 58K this weekend must absolutely be held by the bulls now if they want to continue the breakout attempt.
Been seeing article after article about how Bitcoin is replacing Gold.
Yet another one on Zerohedge this AM.
All the ingredients for bubble top in place there...just question now of whether or not there is one last vertical move left in the tank or not.
Back below 58K now would likely suggest not....
Edited by K Wave, 12 April 2021 - 08:08 AM.
The strength of Government lies in the people's ignorance, and the Government knows this, and will therefore always oppose true enlightenment. - Leo Tolstoy
#413
linrom1
-
- Traders-Talk User
- 4,027 posts
Member
Posted 12 April 2021 - 08:35 AM
DBA opens down again since mid Feb......that's a hell of a inflationary boom?
#414
K Wave
-
- Traders-Talk User
- 27,084 posts
Member
Posted 12 April 2021 - 09:04 AM
Swift drop on Silver...24.80--85 critical area, so if bulls do not recover quickly here, could be first big warning....
4 hour chart still not bullish at this juncture yet.....need a move back 25.20 to achieve that.....
Careful out there until this gets a bit clearer.....
The strength of Government lies in the people's ignorance, and the Government knows this, and will therefore always oppose true enlightenment. - Leo Tolstoy
#415
K Wave
-
- Traders-Talk User
- 27,084 posts
Member
Posted 12 April 2021 - 09:08 AM
NEM also lost 5 min pivot zone....back below 60 could lead to larger trouble....
The strength of Government lies in the people's ignorance, and the Government knows this, and will therefore always oppose true enlightenment. - Leo Tolstoy
#416
K Wave
-
- Traders-Talk User
- 27,084 posts
Member
Posted 12 April 2021 - 09:42 AM
Starting to look like 15 min support on Silver may be giving way....
If so, then all time frames out to 4 hours back into bear mode...putting Silver back into the big air gap on the daily chart......
24.60 looks like last stand for bulls, before possibly much lower prices...
Multiple time pivots now lining up on 25.20, so that is where the all clear could be sounded, if Silver manages to not go over the edge here....
Edited by K Wave, 12 April 2021 - 09:43 AM.
The strength of Government lies in the people's ignorance, and the Government knows this, and will therefore always oppose true enlightenment. - Leo Tolstoy
#417
tradesurfer
-
- Traders-Talk User
- 2,944 posts
Member
Posted 12 April 2021 - 10:01 AM
Major fumbling of the ball here in metals....
#418
K Wave
-
- Traders-Talk User
- 27,084 posts
Member
Posted 12 April 2021 - 10:12 AM
Thus far, just a back test of the 162 breakout on GLD....
If GLD finds its footing here, bulls could be back in Biz.....
The strength of Government lies in the people's ignorance, and the Government knows this, and will therefore always oppose true enlightenment. - Leo Tolstoy
#419
gannman
-
- Traders-Talk User
- 6,948 posts
Member
Posted 12 April 2021 - 10:52 AM
i have this as a correction of the first 5 waves up. so here is where it proves itself
it is either going to correct and go to new highs on a strong move up or we go to new lows
i choose option A on the menu we will see
feeling mellow with the yellow metal
#420
JGUITARSLIM
-
- Traders-Talk User
- 618 posts
Member
Posted 12 April 2021 - 11:10 AM
Added to GDX here - 60% long
