Critical spot for Precious Metals.
Does it need to cool off for this weekly cycle (continue downtrend since the blowoff top) or has the secular bull market trend already resumed.
Week 10 of the Cycle, typically around this point is where you see what type of Translation the cycle has. Currently showing a Week 6 high, which would stick as the high, if the downtrend from Jan is in control. Otherwise if the bull is back, we should see a sharp upside move take hold now.
Cycles that are in transition (Intermediate downtrend within a secular bull trend) are difficult for this reason, and one must have a completely open bias to both outcomes. This area offers a good long setup with a tight stop, and if it breaks down further, a good spot to lighten up on long term exposure looking towards Dec/Jan to reload.
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#TOTAL3 I like the well-defined boundaries. Horizontal. For me the most important chart that will offer insight on the direction for #crypto
More on chart on different pairs >> https://t.co/xNhByOrmXw
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A lot of questions are being asked surrounding $W.
I understand that.
You'll need to zoom in quite a lot in order to be seeing where the price of $W is.
However,
It's finally turning upwards, meaning that breakouts can be quite violent.
If this breaks the recent high at $0.01050, I don't see much until we're hitting $0.0150. That's a run of more than 50% from here.
The more that the Yields come down, the heavier the move on #Crypto will be.
There's a direct positive correlation between $ETH and the Yields.
If this breaks down next week, I'm sure that we'll see a continued leg on #Ethereum towards $2,000+.
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