It is pretty simple in crypto land: this is a major top which will last at least 6 months, or this is the warming up for a blow off top in crypto markets. It is always binary in markets (up vs down) but this particular setup in crypto right now is really extreme. In the end crypto prices will come down, the only question is if and how much they *might* go up first. Our cryptocurrency predictions for 2021 are already crushed, why not a bit more?
Loyal members do know that we use BTC as the leading indicator for crypto markets. And they also do know that our work is extremely accurate, on short and long term timeframes.
We have 2 long term Bitcoin charts which we use to spot major tops.
The first one suggests that we are hitting a major top. Below is the chart, and we don’t think it requires any additional commentary.
Note that we plan to be aggressive buyers again if and when BTC drops to point #2 on this chart.
The second chart, not featured in this article but only reserved for members of our premium crypto service, has a different message. It says that a parabolic move is going to push BTC much higher in the very short term.
That’s why our point of view is that we are at a pivot point in crypto markets: strongly higher or strongly lower. Strongly higher in the short term *may* happen or not, strongly lower in the medium term is almost inevitable.
It’s the extreme nature of the outcome of any of the 2 chart setups that characterizes today’s situation, and it’s very unusual to find such an extreme divergence between charts … which will lead to an extremely different outcome in the near term.