QUESTION: Marty, is it time to short Bitcoin? Even the stochastic are starting to roll over. My best indicator is a crypto bug who says you are wrong and it will replace the dollar at go to 100,000 any day now. He is always the kiss of death in trading. Never looks at charts. Only the propaganda. Socrates says we are forming a major high. Interestingly, gold has not broken out. Do you think the false move comes with the prelude of war?
HW
ANSWER: Gold is still not breaking out, and that is good. We DO NOT want to make highs for May 7th. April appears to be a turning point, so watch the Daily Bearish Reversals. As far as a false move, we should expect that with the prospect of war. The knee-jerk reaction is typically down. Then capital regroups.
BITCOIN has different cycles from gold. When gold finally breaks out that will not necessarily be good for BITCOIN.
