Bitcoin And The Stock Market On The Brink

I’ve been writing about how bitcoin has been in an increasingly tight range and how when it breaks out it should run in that direction a long way. It’s trader thinking. This coiled spring compression has got downright silly in recent weeks with the usually volatile bitcoin trading in an ultra-tight range. This tight trading range seemed very contrived to me and suggested something was “up.”

Yesterday out of the blue bitcoin dropped 10%:

According to my thinking this should be the start of a very significant fall. That is my “speculation.” An asset like bitcoin is an extreme speculative asset so if you are going to play this market you must be and are a “speculator.”

$2,500 has been my target since the crash started at $20,000. I bailed at $18,000 and have been waiting since then to reenter in size. If it hits that price I will load up. It could bounce…