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It may now be the canary in the coal mine.
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I think we are seeing the FOMO of BTC holders as SMH and memory stocks go ballistic. Sell BTC and buy FOMO equities like SMH, XLK and memory stocks.
I think we are seeing a rotation out of BTC and into the hot sectors.
Full disclosure: I am bearish on BTC. I hold only ~$50.00 in BTC. I am open to buying BTC. I do not see the opportune time at the moment.
I do think that the selling of BTC could be oversold. I do want to see some structure so that I can trade against the structure.
Much like Gold, I am looking for BTC to find some structure base that is tradable to the upside. I do not want to go naked short. Face rippers suck and blow you out on margin.
Will we see some structure? I think BTC could find some. We have a possible opportunity here. See chart for details.
I think we are seeing a rotation out of BTC and into the hot sectors.
Full disclosure: I am bearish on BTC. I hold only ~$50.00 in BTC. I am open to buying BTC. I do not see the opportune time at the moment.
I do think that the selling of BTC could be oversold. I do want to see some structure so that I can trade against the structure.
Much like Gold, I am looking for BTC to find some structure base that is tradable to the upside. I do not want to go naked short. Face rippers suck and blow you out on margin.
Will we see some structure? I think BTC could find some. We have a possible opportunity here. See chart for details.
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