Crypto Floor Failure
Well, that’s that.
Friday morning, I wondered out loud to myself, via Twitter….
The very next morning………..
You can see how my supposition about stop-losses was relevant. It was hot-knife-through-butter time. Let’s just all agree that Michael Saylor’s big Juneteenth plans are shot.
Ethereum followed right along……….
And I found out about all this thanks to my trusty SlopeAlerts.
So what does this all mean then? Since I’m so smart, I think it means things will go up or down.
More specifically:
- Either this creates an opportunity for one final wash-out, and by the time normal trading begins on Tuesday (since, ya know, celebrations and such) the problem will have solved itself; or
- The whole house of cards finally starts to collapse.
That second possibility is, ironically, something I do NOT want to see happen, because I’m lighter than I’ve been in an extremely long time (I guess you fancy people would call it negative thirty Delta as opposed to my more common negative one hundred).
It’ll be AWFULLY interesting to see what happens to BTC and ETH the rest of this holiday weekend.