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.
Crypto’s rise over the past week has been just ridiculous. Bitcoin added thousands and thousands of dollars based on, I suppose, the fact that there’s only one FTX out there to blow up. Crypto dragged ALL other asset classes higher with it.
Crypto’s rise since the FTX wipeout in November has been fast and furious. Since the “animal spirits” of crypto are clearing driving equities as well, it’s important to stay in tune with what this world is doing. It seems to me that some of the biggest symbols out there are just about done.
Well, if I had any sense, I would have heeded the signal loud and clear, because it never fails. This is just a sampling from late December and early January:
Bitcoin is up nearly $4,000 since its November FTX-wipeout lows, and its ascent has lifted animal spirits across all asset classes. I’d like to point out we have nailed, pretty much to the penny, the major Fibonacci Retracement level today.
As I mentioned in a premium post last night, the alignment between crypto and stocks is remarkable, with a nearly perfect correlation between two ostensibly different asset classes. I would suggest that the price levels I have highlighted below (in the back boxes) are important levels of resistance for what has been (in the case of both stocks AND crypto) a very powerful multi-month run higher. As always, click on an image to see a larger version.
