Stocks appear to have made their “weekly swing low” as of this morning. This is simply a condition where a weekly candle closes “higher” than the close of the weekly candle prior, and in this case…..within the usual timing band ( these days between 46 – 53 days ) for the cycle to have completed.
Crypto has also made some pretty serious recovery so…It looks like “buy time” to me.
This has undoubtedly been one of the longest / toughest / unpredictable pullbacks we’ve seen in very long time and rightfully so considering all that’s going on in the world but….the charts generally don’t lie and from a technical standpoint – this is all looking relatively normal to this gorilla.
You may want to consider “inching in here” and not throwing the kitchen sinks at this market in general but that being said – I do believe we go on to make the largest returns in the second half of this year, as the big boys “blow the top” off this thing and hand retail the bag once again at much higher prices. Markets don’t roll over like this. We need something euphoric to really convince the masses it’s time to buy…and you know what that means for us – the time to ultimately sell as the average joe scrapes together his last few bucks and buys at the absolute top.
Crypto wise…..you wanna stick with the top ten as seen at www.coinmarketcap.com, as these are coins with very good “use cases” as opposed to so many of the smaller projects that will likely never go anywhere. Ethereum feels like an absolute steal here considering it’s solid place within the defi ecosystem, and bitcoin ( now serving as digital gold for the next generation ) will likely be worth $1 million dollars a coin in the not so distant future.
Have fun gang….keep yer eyes peeled on Russia / Ukraine as….oil will flop back down to 45 bones once this conflict is resolved.
I’m making a gradual shift here at Kong as……..I am far more interested in the exciting future of Cryptocurrency, than the continued demise of fiat. We’ve seen this coming for a very long time here at Kong, and as much as it seems like things have already moved considerably…..we’ve really only just gotten started.
Forex looking to take a back seat here soon, and I hope you all don’t mind. My thoughts are…..for those “young bucks” lurking here looking for a tip – crypto likely even more exciting….and for you “‘ol dogs” much like myself ( or at least somewhere there in the middle ) I imagine you’re pretty sick and tired of asking some punk at a bar or restaurant – What the hell is Bitcoin…and how do I invest?
I will soon be your source for crypto currency news and trade suggestions as I look to take profits on my recent trade ( Sept 20-22nd ) back when Bitcoin was less than half its current value. A full on double in 60 days? Bam – I’m taking it as I expect a pullback here soon.
$10,000 U.S looks like a very nice number to cash out / HOPE the pullback is pronounced but….this train is moving full steam ahead, and I’ll tell you why. Just not tonight.
You need to strongly consider the wide and sweeping implications of these crypto currencies and “re frame” your view and understanding. This is not a fad. It will not be stopped ( only further adopted ) and the train is leaving the station…..just not overnight.
Charts to follow as well my ramblings…….moving towards crypto with my trading and Kongdicator.
Would you expect anything less from a spacefaring entity disguised as a primate?