Crypto and Thoughts for Now…

At Some point, supply meats demand and demand meats supply. We have endless supply and we have seen an amazing run. The NASDAQ is now within 2% of some inescapable inflection measurements. Sorry but it’s just not going to go on forever and I think the capitulation of bitcoin is the beginning. Of course, these markets will come back but from a lower price. With NASDAQ 100, we are damn close. The only number you need to worry about is the immediate pattern that defines 13,600 as the long-term objective matching with the all-time 3.14 extension in the futures price on the continuous contract at 13,770 This too could go higher but as I said in today’s gold members session, we need to begin to shift our expectations from hyperbull to cautious as a reaction is near by definition. Probably gave back a little more money than I should have with this crypto thing but I am fine. What I am really analyzing is my delay in the full reaction to the big numbers that we defined at 35,000. I was able to get off most of it about 5% below that price but for me that’s not acceptable. So, I am going through my mistakes in optimization of execution. There are still many things to consider about cryptocurrency but this was a Pure price action decision. I congratulate some of the notable posts that were clearly pointing out the bearish situation unfolding. In the same way that I’ve put many people in front of this market over a half a year ago with some heady targets to consider, I have to lay it out there on the line for everyone that my sentiments must express my current change in position for now. You know I will always give you my best and do it in advance!