I don't like it. The whole structure is weak and looks like a head and shoulders.. I predict a slow year next year which may bring crypto markets sideways down while other less risk assets catch the spotlight. This is only a prediction and not a guarantee; But seeing our extension of the 200 on a weekly shows me something has to give here soon.. Good luck folks
@peugo407, based on what lol? Every market comes down to it at some point or another... You can take that and roll with it... I will play the risk vs reward side
HighcardJezus
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@peugo407, In case you haven't noticed the global supply chain is being squeezed and traditional markets are less risk compared to crypto which is a RISK OFF... Money comes out of crypto before it comes out of real assets and you can sure as hell believe crypto will dump when we start facing the reality which is our global economy and those who manage it..
bryanpipslam
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all in your perspective, I see that chart and all I see is upside potential!
HighcardJezus
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@bryanpipslam, We could go up. I might be wrong. My fear is in how extended we are from the 200 on a weekly as well as the strength we see in the DXY in weeks and months ahead. If you take Bitcoins chart and invert it you will see a strong pattern compared to the M we have here. But all in perspective like you say
HighcardJezus
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@bryanpipslam, At the very least I think we will go sideways to allow that 200 to come back into the picture.. But again I fear traditional markets more than anything.. This is a RISK off market where smart money takes money out of high risk first.. If traditional markets get a real dump; Crypto can really tank hard