"Yes, I've been waiting patiently for bitcoin to bottom. A capitulation is likely to occur soon, possibly later this month. I think we can see 5,500 or less."
"Switzerland's principal stock exchange SIX Swiss Exchange will list the world’s first multi-crypto-based exchange-traded product (ETP) next week, the Financial Times (FT) reported Saturday, Nov. 16."
The problem for SPX remains the same. The weekly chart is still not oversold. Having said that, SPX is poised for a strong rally in December. SPX weekly may finally see oversold in January. Big bounce next and January low is looking likely.
SC: i think low in S$p500 and Nasdaq is done. Are you of the same opinion?It is interesting to note that even the bitcoin is at a minimum stage together with the stock market.. is a correlation between them?
A low for SPX is forming and the index is getting set to rally. While we do not have a proper capitulation and the weekly still suggests a washout, I think that is yet to come, perhaps January.
The index is strong enough to rally for more than a month, next.
Agree, bitcoin in my view is a proxy for global liquidity. The fact bitcoin has dropped recently signals a low in the stock market is at hand. Yes, the correlation is no coincidence.
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5,500 bitcoin has been reached.
ReplyDeleteSCNovember 7, 2018 at 5:33 AM
"Yes, I've been waiting patiently for bitcoin to bottom. A capitulation is likely to occur soon, possibly later this month. I think we can see 5,500 or less."
The channel has been pushing down bitcoin this year, but price may see a pop short term to attempt to escape the channel.
ReplyDeleteThe bottom may not form until next year, but we are getting closer. Once it bottoms, the upside should be impressive.
the way spx is trading it would not suprise me to see a big drop
ReplyDeleteif 2700 dont hold
we might drop hard tomm if we do i will buy upro at that point and spxl and short uvxy im my opinion
ReplyDeleteBought GBTC $5.45.
ReplyDeletePotential for a spike up short term in bitcoin.
Delete"Switzerland's principal stock exchange SIX Swiss Exchange will list the world’s first multi-crypto-based exchange-traded product (ETP) next week, the Financial Times (FT) reported Saturday, Nov. 16."
ReplyDeleteThanks for the update!
ReplyDeleteSC: Your thoughts on the S & p500 have changed or do you always believe in a rebound towards 2850?
ReplyDeleteThanks for sharing
Yes, 2,850.
DeleteIf 2650 does not hold we could get smashed down to 2600
ReplyDelete2,575 SPX looks possible.
DeleteSPX needed to hold above our line in the sand at 2,700. It tried but failed. So SPX retesting the low. That's okay it'll still rally strong.
ReplyDeleteUVXY huge resistance at $68. It'll see $50 in December.
ReplyDeleteThe problem for SPX remains the same. The weekly chart is still not oversold. Having said that, SPX is poised for a strong rally in December. SPX weekly may finally see oversold in January. Big bounce next and January low is looking likely.
ReplyDeleteThis isn't the washout that I've been talking about for SPX. I do think it will happen - on pace for January.
ReplyDeleteVIX doing nothing Haha. Some indexes are actually positive today. SOX.
ReplyDeletetrue but we need to hold 2650 we should have a short term bounce? into santa
DeleteTough to say whether we see a slight higher low or lower low here. Either way it's just a retest of the October low. Rally next!
DeleteInstitutional buying in bitcoin coming January...
ReplyDelete"NYSE Operator’s Bakkt Confirms End of January Launch Date For Digital Assets Platform"
Bitcoin ETF in the US just a matter of time. Few hurdles left now.
ReplyDeleteSC: i think low in S$p500 and Nasdaq is done. Are you of the same opinion?It is interesting to note that even the bitcoin is at a minimum stage together with the stock market.. is a correlation between them?
ReplyDeletemany thanks!
A low for SPX is forming and the index is getting set to rally. While we do not have a proper capitulation and the weekly still suggests a washout, I think that is yet to come, perhaps January.
DeleteThe index is strong enough to rally for more than a month, next.
Agree, bitcoin in my view is a proxy for global liquidity. The fact bitcoin has dropped recently signals a low in the stock market is at hand. Yes, the correlation is no coincidence.
ReplyDeleteNew chart coming for SPX!
ReplyDeleteNew chart posted!
ReplyDeleteInvesting online has been a main source of income, that's why knowledge plays a very important role in humanity, you don't need to over work yourself for money.All you need is the right information, and you could build your own wealth from the comfort of your home!Binary trading is dependent on timely signals, assets or controlled strategies which when mastered increases chance of winning up to 90%-100% with trading. It’s possible to earn $10,000 to $20,000 trading weekly-monthly, just file a complaint with Mr. Carlos, I had almost given up on everything about binary trading and ever getting my lost funds back, till i met with him, with his help now i have my lost funds back to my bank account and I can now trade successfully with his profitable strategies and software!! Email: investandearnbinaryfx@gmail.com or whatsApp: +1(424)285-0682 or telegram : @IEBINARYFX
ReplyDelete