My rainbow-based warnings about crypto seem to have been well-founded. As I am typing this on Thursday evening, the BTC futures are down thousands more dollars. Of course, this could be nothing more than yet another “buy the dip” opportunity as the prior arrows indicate.(more…)
Slope of Hope Blog Posts
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Crypto went crapto over the past twenty-four hours, and as I suggested to my premium members in a post last night, the rainbow was at risk. Well, now it’s out-and-out broken. Interestingly, it found support at precisely the 50-day exponential moving average (red line), although I strongly suspect this support will not survive the week.(more…)
I’ve settled into these three cryptos as my favorites, with ALGO in particular being the standout favorite.(more…)
On Tuesday morning, I closed my my crypto positions at Kraken, wired all my profits to my checking account, and let the original principal remain at Kraken in plain old cash. I’d like to explain why.
First, here is what the crypto market (represented by Bitcoin) and the stock market (represented by the SPY) were doing until a few months ago. It doesn’t matter which is which; the point is that they each went their own ways.(more…)
Well, the Rainbow Connection continues to work out nicely. Bitcoin has burst thousands of dollars higher………(more…)