Slope of Hope Blog Posts

Slope initially began as a blog, so this is where most of the website’s content resides. Here we have tens of thousands of posts dating back over a decade. These are listed in reverse chronological order. Click on any category icon below to see posts tagged with that particular subject, or click on a word in the category cloud on the right side of the screen for more specific choices.

A Distorted Mirror Image

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I posted the first Bitcoin (BTCUSD) chart below at the end of December and there are two notes that I made on it then that are worth another look today.

The more important one of those is that I noted that any sharp decline on equity indices takes Bitcoin down with it, and we have most definitely been seeing that. On the flip side, any significant rally in equities will likely take Bitcoin up with it.

The other note I made that is worth remembering is that I noted that all of the RSI 5 buy and sell signals on this chart reached the full target (at 70 on RSI 5 for buy signals and 30 on RSI 5 for sell signals).

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A Funny Thing Happened On The Way To Support

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In my post on Wednesday last week I was looking at the bear flags formed on Bitcoin (BTCUSD), Solana (SOLUSD) and Ethereum (ETHUSD), and those have all since broken down, but in a way that looks as though we might see a rally shortly.

I was outlining a scenario for that rally to a friend a couple of days ago, but was thinking the setup would probably fall apart as equity indices fell hard, but with SPX down almost 10% since then the setup is still intact, so I’m going to look at that today.

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