Loading ...Surf’s Weekend updates
My BitCoin & GBTC update is a freebie this weekend. Note that the chart below shows BitCoin’s price is now breaking to the upside of the Ascending Triangle that I mentioned in my weekend report. Should the breakout hold into Tuesday, my expectation is that GBTC will gap up at the open & run.
https://surfcity.co/2019/05/25/surfs-weekend-updates-31/
Screenshot from below is from page 58 of the classic TA handbook from Edwards & Magee
Surf City Website: https://surfcity.co
Yes, good job Surf! I’m in XRP and XLM … seeing if they follow.
Nice! I also added to my Ethereum (ETH) position at $248 on Saturday.
XRP will not follow. It will overcome big time.
But you must be patient.
You may be correct as the XPR chart looks like it is still in Weinstein’s Stage 1 Basing and has not really moved yet.
Thanks for your thoughts!
The supply of litecoin going into the system cuts in half in August. New bitcoin supply cuts in half May 2020. New bitcoin cash supply cuts in half in April 2020. This supply constraint coupled with more vehicles allowing both institutional and general public participation will propel the entire crypto market skyward.
DadDoc, You are correct that the Crypto space is all about basic economics of supply & demand. All Governments continue to just print new money endlessly and Cryptos limit supply which triggers demand when they are in a bullish phase. I expect this new bullish phase to last 2-3 years where we will see higher ATH’s but the price action can also whipsaw so timing is important to be able to spot lows forming.