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03/07 Crypto Update

A Lookback

The Crypto Market is moving largely in correlation with the Stock Market. Last Fraiday we posted Bitcoin chart that proved to be spot on so far.


Bitcoin, 3hour

https://www.tradingview.com/chart/BTCUSD/bp0DHxV8-BTCUSD-Idea/


Ethereum, however, does not seem to follow our speculative outlook with a leading diagonal, hence it has to be recycled. We note, however, that the stock market indicates potential upside (see our related post) therefore we might choose to pause with crypto until there is more clarity.


Ethereum, 3hours

https://www.tradingview.com/chart/ETHUSDT/UNUqDLOX-ETHUSD-Update/


Next Week

We remain of the opinion that the crypto market remains in a sideways mode like stocks. However, opposite to stocks we expect crypto to move sharply up while stocks we expect to tumble further.

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