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.
Bitcoin Breaking Key Resistance
In my last post on Monday I was looking at the bull and bear scenarios on the big three coins that I cover, with particular focus on the strongest setup on Bitcoin (BTCUSD). I was also noting the similar setup on equity indices at the same inflection point, which is important as both Crypto and equity indices have tended to be significantly correlated in the past, and there is no current sign that is different here.
Since then both Crypto and equity indices have rallied strongly and are both reached yesterday the verge of a final break up that would look for retests of many of their all-time highs.
(more…)A Better Way To Play Bitcoin?
As Above, So Below
I did a post on equity indices before the open this morning talking about the inflection point here and we are looking in essence at the same inflection point on Crypto, as historically both have tended to be significantly correlated and, as you can see on the chart below, there has been no obvious sign that is changing at the moment.
On Crypto we have a clear inflection point where there could be a break either significantly lower or back towards a retest of the recent highs and that is also the case on US equity indices. Whichever way this breaks, they will most likely break in that same direction though, if that break is into high retests on both, then that may well be part of a topping process that just delivers a similar or larger downside move to the one I am looking at today, just a bit later on.
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