It’s been an awesome run for us in Bitcoin for the past few weeks, but let’s face it: the easy money has been made now. With Bitcoin once again near all time highs I’m seeing early signs of alts bottoming across the board.
Yesterday was an awesome opportunity to bank a nice chunk of easy coin. That of course assuming you were able to leave your mental hangups at the door where they belong and act on the ample evidence that was literally screaming us in the face.
I caught the SPX on a longer term panel today and a few things immediately stood out to me. First up we are most definitely in a corrective phase, which is obvious simply by looking at the chart. No indicators or quant magic needed.
Ladies and leeches, this is your pilot speaking. Please fasten your seatbelts and return your tray table to its full upright and locked position. We are heading into a potentially explosive week during what has already been a rather explosive year. Be advised that in the unlikely event of a water landing, it’s every man and woman for themselves!