Will Plan B's S2F prevail?
Looking at the hourly chart we are currently bottoming out at the $41k level. For quite some time this has been a relatively strong support level. I see us hanging out here for the next few hours to day.
Now, looking at the news some might be nervous due to the US debt ceiling and potential default. This is something that has NEVER happened before. I don't think it is a likely scenario. However, people will be selling and we will be buying. I read that Jaime Dimon has been pushing the FUD of a default. Now, when someone akin to Dimon says such stuff that means they are trying to push down the market so that they can gobble up your stocks/assets for a discount. What I see happening is that we get into the 11th hour and a deal comes up. This will send all markets up for a spike with crypto having a higher percentage versus other classes.
As we enter October we will see if the S2F model is in play. All my indicators say we are likely to see a surge in crypto. The question is which will pop first. Will it be the alt-coins or bitcoin? Either way I'd say we have roughly 2 more weeks to really accumulate our coins before a truly parabolic shift occurs. With that being said, I hope you all have a good one and stay tradin!
- J
Looking at the hourly chart we are currently bottoming out at the $41k level. For quite some time this has been a relatively strong support level. I see us hanging out here for the next few hours to day.
Now, looking at the news some might be nervous due to the US debt ceiling and potential default. This is something that has NEVER happened before. I don't think it is a likely scenario. However, people will be selling and we will be buying. I read that Jaime Dimon has been pushing the FUD of a default. Now, when someone akin to Dimon says such stuff that means they are trying to push down the market so that they can gobble up your stocks/assets for a discount. What I see happening is that we get into the 11th hour and a deal comes up. This will send all markets up for a spike with crypto having a higher percentage versus other classes.
As we enter October we will see if the S2F model is in play. All my indicators say we are likely to see a surge in crypto. The question is which will pop first. Will it be the alt-coins or bitcoin? Either way I'd say we have roughly 2 more weeks to really accumulate our coins before a truly parabolic shift occurs. With that being said, I hope you all have a good one and stay tradin!
- J