Crypto Market Cap Hits New All-Time High

Digital enthusiasts should be happy as last week, the total crypto market capitalization established a new all-time high of $2.5 trillion, surpassing the previous top of $2.4 trillion reached this spring.

Crypto

It coincides with the current move in Bitcoin, which is approaching an all-time high. Is it the main coin that contributes the most to pumping the market cap? Let us check it in the next chart of the total crypto market cap excluding Bitcoin. Continue reading "Crypto Market Cap Hits New All-Time High"

Platinum And Palladium Update

I put the platinum first as it has a clearer structure. The big map has remained unchanged since 2019; I put it down below to brush up.

Platinum

We are in leg 2 (black) with a completed AB part (next chart). I expected the CD part to start earlier. However, the bullish trigger was left untouched and the market collapsed further down.

Platinum

The third red leg down has hammered the platinum futures price below $1,000 handle to hit the valley in $893. It is amazing how symmetry works here, as all three legs are almost equal to each other. It is a good sign for the platinum as it suffered a lot. Continue reading "Platinum And Palladium Update"

Bitcoin Triggered Buy Setup, Plus Gold And Silver

Bitcoin is a true modern hero in the financial world as it stands no matter what. Let it be the Chinese government's ban or US regulators and financial elite's rejection.

It is amazing how Bitcoin follows a conventional chart structure as it acts like matured instruments over time but at a higher speed. The predicted drop in leg 2 down hasn’t kept us long as it emerged the same day when the previous update was posted.

Most of you thought that this drop could be just a part of a pullback ahead of another Bitcoin rally.

Bitcoin Daily Chart

The collapse in red leg 2 down was close to hitting the preset target of $38k, as it bottomed at the $39,600 mark. The structure looks completed as it has met the minimum requirement to travel an equal distance with leg 1. Continue reading "Bitcoin Triggered Buy Setup, Plus Gold And Silver"

Gold Builds Buy Setup, Is Bitcoin Next?

Gold follows the map posted in an earlier update.

Daily Gold Chart

Gold dropped within two visible legs close to the area of 61.8% Fibonacci retracement level located at $1,738. The second leg down has overshot the size of the first leg reaching almost 1.272 of its distance. The RSI has shown two legs down either. Initially, the 50 level in the indicator’s sub-chart acted as a support, and then it turned resistance for the joint between two legs. Continue reading "Gold Builds Buy Setup, Is Bitcoin Next?"

S&P 500 To Lose 30%?

It is not clickbait for hype. I will take you through my observations in this post to show you why it could play out.

Every market has its stages develop over time: Boom and Bust, Growth and Correction, Collapse and Consolidation. The corrective phase could be around for the stock market.

The main question, as always, is how deep it could drop when a retracement unfolds. This is not an easy one. To see the market from different angles, I built the comparison chart as I put the S&P 500 index itself (black bars), then I added Vanguard Value Index Fund ETF (VTV) (red line) and Vanguard Growth Index Fund ETF (VUG) (blue line).

S&P 500

This monthly chart starts from the major bottom in 2009. SINCE THEN, the S&P 500 index has gained more than 450% since then, the value stocks have scored more than 300%, while the growth stocks have made a jaw-dropping 715%. Continue reading "S&P 500 To Lose 30%?"