I'm gonna catch a lot of junk for this but I'm going to float an idea for you. Time to abandon ship. I love crypto. You can see my charts going back years, but it's time to get out. There are two main reasons.
1. There are a lot of think tanks articulating a working international gold standard. It's coming. It has to. We can't survive on this imaginary fiat economy for much longer, I'm sure this we can all agree on.
2. The Trump Tweet. Trump tweeted, "I am not a fan of Bitcoin and other Cryptocurrencies...". Most people see Trump as the enemy. However, I think he is trying to give people a warning. I interpret his tweet as: "We are about to nuke Bitcoin and other crypto. Get out now because we're about to press the button. I'm going to fix the economy, but crypto won't exist."
I know most reading this are laughing. That's fine, I likely would too. All jokes aside, you've been warned. It's easy to buy back, but if the floor falls out this could get ugly fast. Good luck crypto friends.
This isn't the prettiest picture. The weekly has been one of the best swing trend indicators and unless we shoot up in the next 24 hours we're probably going to get a cross tomorrow. Intraday charts are uninspiring as well.