crypto's have pretty much done what I said they would do.
In December my comments we're that Bitcoin would enter a much
longer consolidation now since it broke a parabolic uptrend,
typically when something breaks down from a parabolic move like
that, the consolidation lasts for a while. You can see my
comments on the chart from Dec, this chart doesn't reflect today's
prices, Bitcoin and others are down a lot more, Bitcoin hit the
7000's this morning for a time
that's also one concern I have for the general market, while it
obviously wasn't as parabolic as Bitcoin, it did have a
parabolic-like move in the short term and thus this consolidation
might last a bit. We'll be monitoring symmetry. One
target over time could be the 50 MA's or the 61.8 Fib Steve and I
showed the last few days, otherwise obviously I'm expecting new
highs after it's done, however it could be a bit
Newsletter
Subscribe to our email list for regular free market updates
as well as a chance to get coupons!
Kryptos down, metals down, stocks
Posted by zwyss on 2nd of Feb 2018 at 10:03 am
Kryptos down, metals down, stocks down, commodities down, bonds down..... one might think that something has to rise when everything else is down....
crypto's have pretty much done
Posted by matt on 2nd of Feb 2018 at 10:11 am
crypto's have pretty much done what I said they would do. In December my comments we're that Bitcoin would enter a much longer consolidation now since it broke a parabolic uptrend, typically when something breaks down from a parabolic move like that, the consolidation lasts for a while. You can see my comments on the chart from Dec, this chart doesn't reflect today's prices, Bitcoin and others are down a lot more, Bitcoin hit the 7000's this morning for a time
that's also one concern I have for the general market, while it obviously wasn't as parabolic as Bitcoin, it did have a parabolic-like move in the short term and thus this consolidation might last a bit. We'll be monitoring symmetry. One target over time could be the 50 MA's or the 61.8 Fib Steve and I showed the last few days, otherwise obviously I'm expecting new highs after it's done, however it could be a bit