I haven’t had a crypto account in years, but if I did, I’d seriously consider shorting Ripple ($XRP) if it gets back up to that horizontal, which is the base of its well-formed right triangle top.
Drunk on Ripple
Slope of Hope Blog Posts
Slope initially began as a blog, so this is where most of the website’s content resides. Here we have tens of thousands of posts dating back over a decade. These are listed in reverse chronological order. Click on any category icon below to see posts tagged with that particular subject, or click on a word in the category cloud on the right side of the screen for more specific choices.
Possible Crypto Retracement Low
In my post on Tuesday last week I was looking at the possibility that we might see a modest retracement (by Crypto standards) on Crypto over this week and into the end of September, during the last significantly bearish leaning period (on equities) this year.
In my premarket videos over the rest of last week I was looking at the possibility that daily RSI 5 sell signals might form on Bitcoin (BTCUSD) and Solana (SOLUSD), and that Bitcoin and Ethereum (ETHUSD) might get another leg down within larger bull flags that might be forming from their last all time highs.
We haven’t actually been seeing much bearish action on equities during this historically weak bearish window on equities, at least until the Fed comments yesterday casting doubt on further rate cuts this year, but the pullback on Crypto has been proceeding as expected.
(more…)Crypto Flipto
This is a gentle-natured “told ya!” Until recently, Ethereum ($ETH) was exploding higher. About a week ago, I suggested this relative outperformance was nearing its end, judging from this ratio chart, which was “bearish”, so to speak.
Lifetime Lows
I don’t make the quotes. I just report them.
A Modest Retracement on Crypto
In my post on Tuesday last week I was looking at possibility that we might see a modest retracement on Crypto over the next few days into the end of September, during the last significantly bearish leaning period this year.
In my premarket videos over the rest of the week I was looking at the possibility that daily RSI 5 sell signals might form on Bitcoin (BTCUSD) and Solana (SOLUSD), and that Bitcoin and Ethereum (ETHUSD) might get another leg down within larger bull flags that might be forming from their last all time highs.
Looking at Bitcoin, that next leg down may now have started, and it has retraced to test the first big support level on the way at the backtest of the May (then) all time high at 112k, and the weekly middle band just below that currently at 111,738. The overnight low at the time of writing is at 112,121.
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