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Perfectly Normal Price Movement In Bitcoin

Over the weekend, cryptocurrency markets were back in the news due to sell offs because of whatever headline you want to buy into. I skimmed through several narratives but prefer to do my own analysis. Here is what I think is setting up in Bitcoin in particular and what you can expect in the near term…

Enter the ever-present Mamis Sentiment Cycle found on Omahacharts frequently:

 

To me this is the best way to play cryptocurrency markets. The fundamentals aren’t worth delving into. And who understands them? Not this guy. Instead I keep The Justin Mamis Sentiment Cycle above screen burned into my mind and equate the price levels of the cryptocurrency markets to the road map. Here is Bitcoin:

 

 

Discouragement is coming and should serve to wipe out some longs who jumped in around these prices, fully discourage them and provide us a good buying opportunity. I think this gets us pretty close.

What do you guys think?

Thank God It’s Monday.

OC

Posted by Trent

2 Comments - Perfectly Normal Price Movement In Bitcoin

  • avatar

    Teddy Bear June 11, 2018 reply

    I want some of that $GBTC. I am waiting patiently. By the way, love the new site.

    • avatar

      Trent June 11, 2018 reply

      Thanks my man!

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