Quick market update

Quick market update.

BTC has completed a retest of support.

Today's candle was a full-throated attempt by the bulls to take control, which failed.

Now the sideline bears who shorted together (because it was a good spot to get short) are under pressure.

Fuckwits that short together, feel stupid together, cover together.

If the market can rally a little it should set off a short squeeze

However the funding rate… which neatly picked the drop and the subsequent rally is saying we should see intraday weakness 

The one metric that really cannot be faked is the number of addresses with actual coins (real money).

Short term, markets are voting machines but long-term they are weighing machines… so if users are voting with their wallets and putting money into BTC then long term the value of the network rises.

It’s worth a look at the top 10 CoinmarketCap listings

Hard to see anything dethroning BTC anytime soon… so really odds are strong BTC is going to be the winner of any bullish phase.

When it’s time… buy BTC.

That’s the thing… the market goes in cycles. Sometimes it’s smart to be in BTC, sometimes ETH, and sometimes other Alts.

Of course the Alt Seasons are the times where the most money is made… but those are rare as rocking-horse shit.

And if you get into alts when the market goes down it’s very, very bad.

I have a press-button make money dumbass solution.

It’s a once a week momentum system that measures the strongest sector (BTC, ETH, Alts), and if the strongest sector is Alts, it chooses the 5 strongest altcoins for you to hold that week.

How does it choose? 

A simple slope of linear regression line (49 days excluding recent 14)

Simple stuff, but how does it do?

Real world results over the last 2 years indicate… pretty fucking amazing actually 

The goal of the system is to accumulate bitcoin, and outperform the market (bitcoin). 

Which it’s done in spades, even in a bear market.

You can get it on sale (for a few days) here 

Scott

P.s. I have a couple of spots opened up to work with me privately on our perpetual futures system (which is crushing it right now) CLICK HERE TO APPLY