Great quarter fellas!

Great quarter ended overnight!

It’s a good time to look at the 3 month charts and revisit some fundamental principles of reading the charts.

The way bars CLOSE is the most important thing, since that tells us who won the period… buyers or sellers.

Here two things jump out. 

Firstly, after trying to drive the market up and failing… the bulls are all out of ammo for a while. 

Secondly, we closed lower than the open, and closed right at the lows.

Therefore the bears increased their dominance right at the end.

You cannot bet on a bullish reversal here, no matter how bearish things seem.

The bulls are down on the ground and about to weather a stomping.

All you can do is cover your face and wait for your attackers to get tired and give up.

How does this affect us?

Well, just as the rising tide float all boats… turds of a feather get flushed together.

Credit Suisse looks to be the next shoe to drop for next week. Their credit default swaps are trading at levels higher than 2008.

Historically, when banks start talking about how there’s nothing wrong they are about to start panicking.

It’s frankly difficult for me to see how BTC doesn’t get dragged down in the short term.

Sorry, I tell it like I see it. I hate all that stopped-clock relentless bull cheerleading. (the best time to buy bitcoin was 2011, and no the second best time isn’t right now)

Hands off the trading platform here for a little bit plz

As usual I can offer no better advice than to just learn the damn Crypto Salary System.

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Scott

p.s Tesla just did it’s “investor day” and demonstrated a robot with 10 year old tech that needed to be assisted onto stage by 3 people. Dumbest shit I ever say and their fanboys are lapping it up.

Look at the price action on the 3 month chart. This thing has no support to $25.