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:

OmahaCharts Bitcoin and Cryptocurrency Analysis - Perfectly Normal Price Movement In Bitcoin

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:

OmahaCharts Bitcoin and Cryptocurrency Analysis Two - Perfectly Normal Price Movement In 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