The Crypto Flow: The CryptoSpiracy has become more than sober in recent weeks. Everyone keeps Believing whatever they want to Believe has to happen! Investors still assume they are going to get rich… eventually. Bureaucrats are still enjoying their ignorance of the Crypto universe. In other words, the Hypno Crypto PR was obsessed, all the way down. Everyone was offering more of any edge which they didn’t have. The Global RISK OFF equity panics are bigger than anyone expected. We understood that. The profile for Crypto April was supposed to be Bullish. It was, but it didn’t go anywhere and has resolved into a corrective abyss.
Big Pictures really were Too Easy: The Bitcoin Halving of 5/11/20 was supposed to provide one more rally but it clearly did not. Crypto turned out to just be another asset, as expected. Big Pictures are always louche. They are too easy to talk about. They always assume that someone ‘understands’ what is happening. Don’t believe in any of it. My profile for weak stocks into Q4 infers Crypto trouble until then? But, big Pictures always run the risk of being too easy. Best to Hunker than Hodl!
The Daily Price Pattern: Crypto was not able to engineer an escape from the global RISK OFF hangover. Hopeful Hucksters have not stopped wringing their hands as they have all suffered the colossal fate of seduced ‘Hodlers.’ True Believers never seem to be able to stop Believing. Sure, Crypto is a real asset and has a real future. It just won’t be what everyone assumed it would be. Bitcoin Behavior is, as usual, not exactly what anyone expected. No one expected this to be happening or even thought it could be happening. I had proffered some time ago that: “Crypto turned seductively, cryptically corrective. It is heavy.” The price patterning in Crypto is matching the structurally negative S&P profile. In these sorts of times, there is no near-term guidance save to own old Crypto: The Gold
Information is for paid subscribers & may not be copied or distributed. © Copyright 2022. The information contained herein was provided by Sentiment Timing and/or its publishers does not make any representation or warrant with regard hereto, including but not limited to those of accuracy, completeness, reliability, timeliness and/or infringement on the rights of third parties. This Publication expresses a view on the markets but is not intended to provide any specific recommendation to buy or sell any security. Investing is Uncertain and always carries Risk. Of Losses. Subscribers should always assess Market Risk parameters with their broker or financial adviser.
Information is for paid customers and may not be copied or distributed Copyright 2022