The pullback in Crypto has started right on time. Meanwhile Stocks, Bonds and the DJI are still going up. The DJI hasn’t quite topped out, it is still likely to get at least to 28,900. After that the stock markets are going to have a pretty good drop. Not a full crash though.
BTC – It hit my $12,300 target that I have been posting here for over a month. We do need to go down at least to $10,400 during the correction. I also have lower targets. However, we may make a wedge pattern where price goes up and down for some time before we get to our lowest correction level. This means that it is possible we hit $10,500 then go up to the $12k area before coming down again. THIS IS ALL PART OF THE CORRECTION – it is perfectly normal.
A CORRECTION – Is a pattern where we get a significant pullback after an extension of price. It can take weeks and sometimes even months for a correction to unfold. Along the way there WILL BE necessary up and down moves as price ZIG-ZAGS it’s way down to the correction level. This is a very basic concept of price movement. Please do not trade if you don’t understand this.
We can never expect a correction to come all at once and go straight down. Crypto is an extremely volatile asset. HOWEVER – because it is so very volatile and because it is also very manipulated we DO sometimes get straight up and down moves in the market. For this reason the best attitude to the market is one of flexibility and patience. The best success comes from picking your moments for ENTERING and EXITING with the focus and precision of an Eagle.
TRADING THE WEDGE – It can be done if you know what you are doing. This is NOT something I do, and I don’t recommend it based just on the levels I am seeing. You must know your own Technical Analysis and you must also be managing your money/risk very well if you do this. It takes years to become a good trader, please be aware of this and please recognize that what I am providing is better info for INVESTORS to find the best buy-in, profit taking and re-buy moments in the market.
$13k-$15k??? But wait? Where’s my $13k-$15k BTC? It’s coming, but not yet. FIRST we get the correction.
XRP Moves – Probably not yet, at least not in the significant way we are waiting for. There is some news coming out on XRP that can push prices up in the next few weeks. I will update as this is happening.
THE MARKET UPDATE IS TODAY’S VIDEO REPLAY – Posted Below
Here’s this weeks Horoscope – THE DRAMA
THE VIDEO BELOW – HOW TO USE RSI in Trading (reposting from last week in case you didn’t get a chance to see it.)
**WATCH THE VIDEO ABOVE FOR INFO ON HOW TO GET IN AND OUT OF TRADES MORE SAFELY.
XRP – As posted in my XRP Astrology video many months ago, this is the week when XRP is released from aspects holding it down, so it can start to move up – SOME. However – and this is very important– XRP will not start it’s FULL RUN until BIG banks start to fail. Here is the XRP Video:
PERSONAL STRATEGY – My personal strategy is to buy the good alts on dips and plan to sell the peaks when BTC is between $13k-$15k. I would never use all my money for this and still have a significant percentage on order at lower price levels. This is because we are generally still waiting for the other shoe to drop and take all the markets down. This WILL happen and it could happen at any time although we are out of the window of peak danger now. There are some things that cannot be known on the time level. Astrology gives me windows of probability, some will hit and some will not, and this is where strategy and technical ability comes into the picture. I am posting a video later this week to explain how to strategize in this volatile market.
Precious Metals – WILL GET A SIGNIFICANT MOVE UP AGAIN IN ABOUT A WEEK. THE NEAR TERM OUTLOOK FOR METALS IS FOR HUGE MOVES TO START HAPPENING. This is just a last chance buy in opportunity with Metals. If you watched this weeks video I see that there is only one small POSSIBLE window for metals to crash down again. In other words, we may never see prices this low again, and right now SILVER is still a great bargain. But Gold is too, and Platinum and Copper are also not bad to have. Not necessary, but not bad.
***Remember, I am providing information, not decision making – the decisions will be up to each of you based on your own risk tolerance and goals. The smartest strategy is to take profits in small percentages as we go along. I have more advanced strategies for doing this in the PRO and VIP area.
NOTE: For me the $7k-$10k levels on BTC are a no trade zone. I do not recommend anyone who is not already a very competent trader to try and speculate in this zone. This is because there will be MASSIVE volatility in the next few months which is specifically designed to destroy traders. Please be careful.
DINAR AND DONG – The Iraqui Dinar and the Vietnamese Dong are still on the table and I do still recommend them. This is probably not a short term-instant fix strategy, so I personally haven’t put a lot of money into them. I consider this gambling money. Here are more details on my Market Update from a few weeks ago, you can read that HERE.
DEFI – If you MUST. The guides were very clear that this whole ecosystem is pretty dangerous in my recent channeling on LINK. However, there is currently a lot of modney to be made there. And I know everyone wants to be part of it. Even me. DEFI is a long term danger zone, however, for the next few months it is going to do very well.
LONG TERM – the ERC-20 network, DGB, and SLP tokens will FAR OUTPERFORM this DEFI network. But for now, it’s the hot topic. So, here is a little insight into what is going on there right now.:
There are 5 DEFI tokens that I expect to make another big wave up before the whole Crypto market has a good pullback. DEFI may continue to outperform the market for a few more weeks/months. One of these tokens is BANCOR so if you have a small amount of gambling money then this is one to look at. But you should consider this a gamble and treat any gains or non-gains the same way you would any money that you put on a table in the Casino.
Also be aware that the DEFI network tokens are somehow more tracked by the Govt than most of the others. Tokens that trade OFF the DEFI network are safe as long as they DON’T GO OVER TO DEFI. I see DEFI as a bad neighborhood as far as Crytpo is concerned.
The other 4 that I expect good gains from are being posted in PRO. This includes the one I expect to be the best near term performer.
Personally, I just made a significant buy of ADA and I am expecting it to do at least a 5x from where it is now in the next few weeks/months. It is a safer play than any of the DEFI coins.
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