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RE: Chart Potpourri
Hard to say how long we'll be in this range, that is if we are in a range. If the longer term bullish undertones start making themselves felt again, then we could be in a consolidation range, and if it's the crypto bull I have come to know, we might be heading higher sooner than we think.
I trust your instincts. Afterall you were many time right. Something is telling me we are about to go much higher and it has just started. But that’s me. I just always hope for the best and prepare for the worst. Just a few weeks ago my worst case scenario was the crash, now it's consolidation possibly going little lower than we are now. Isn’t it a nice progress when it comes to worst case scenario? Also I take into consideration stock market as well. If stock market goes down or even crashes, I’m afraid it will pull the crypto market down as well. You know these margin calls, people will be forced to sell if they don’t find another way of funding. Time will tell.
It's really hard to say how a stock and bond market debacle could affect crypto. I'm of the opinion that is could just as likely be bullish as bearish and with my long term bullish view of crypto being as strong as it is, my worst case scenario for crypto is that it will at least outperform, even if falling in value. I once had a worse case scenario that crypto could completely disappear, but I would say that is very unlikely now. Many will indeed disappear, but crypto is here to stay, and the winners are too.