Bitcoin, No Genius Required

Many get intimidated by the unique language used in the markets, invented to do just that, intimidate. Nowhere else you get bombarded with that many lies and misinformation than market speculation. The truth is that most market behavior is based on human behavior. Human behavior isn’t a mathematical equation, and as such, one doesn’t have to have special knowledge to participate. It isn’t a math sport. It is a psychological competition. Bitcoin, no genius required.

Why do we mention this? Bitcoin is in a massive uptrend right now, and we are about to see another leg up. Typically, the choice of participating or staying sidelined is with more minor consequences than this time around. We are in a wealth transferring market cycle. An event happening typically every 93 years. An event at the end of a fiat currency dissolving into hyperinflation and leaving many in despair. E.g., have you noticed your grocery bill being over 20% higher and mass media not mentioning it? Get informed and not mislead and do not wrongly be instructed that this bitcoin ship has sailed and there are no ways to participate at these levels. They will look timid in a few years to come.

S&P-500 Index, Weekly Chart, Warning signs of a larger cycle ending:

S&P 500 Index in US Dollar, monthly chart as of February 19th, 2021.

S&P 500 Index in US Dollar, monthly chart as of February 19th, 2021.

We posted a similar to the above chart on February 19th in our weekly Silver chartbook to indicate a possible extended stock market with a more than typical retracement possibility.

S&P-500 Index, Weekly Chart, Double top with Indicator divergence confirmation:

S&P 500 Index in US Dollar, weekly chart as of March 22nd, 2021.

S&P 500 Index in US Dollar, weekly chart as of March 22nd, 2021.

Now only five weeks later, we see the first possible cracks. The weekly chart shows a possible directional change with divergences in both a directional indicator (Stochastic in yellow) and a momentum oscillator (Commodity Channel index in white), confirming this suspicion through divergences. Hence, we might get a trend reversal over the next few weeks or months.

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Disclaimer: All published information represents the opinion and analysis of Mr Florian Grummes & his partners, based on data available to him, at the time of writing. Mr. Grummes’s ...

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