Cryptos and stocks: Follow the tick for tick

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a little more than a week ago I wrote a post entitled One Hundred Thousand, in which I told my crypto trip from a starting point of $ 80,000 Hoch to $ 89,000, Nieder to $ 79,000 and then to $ 91,000.

So it is worse . And I want to talk about it and I would like to share why I - again - again !! -decided to go to the side of the moment of crypto country. Let's start with this diagram of in the last few days (I guess this late Friday evening).

ETH-Price diagram

ETH price diagram

with a word, it is is shit . I look at a lot of diagrams and the number of diagrams displayed has become negligible. It does not help that it is becoming increasingly common to tear down. An extreme example was only a few days ago, with , which was one of my stocks at the time. Check out the chaos triggering , all in the course of protocol …

ltc-price diagram

LTC price diagram

Viewed over a longer period of time, this tip stands out like a grotesque data error, but actually happened.

ltc-price diagram

LTC price diagram

And it's not just insane like the litecoin - Walmart (NYSE :) hysteria . Another example, , was one of the few coins that I really liked a few days ago. Since then, his beautiful price movement - as with so many coins - has been withered.

CRV-price diagram

CRV price diagram

There is above all a reason why I decided to step aside for the foreseeable future: My observation is that the entire crypto room led around the nose from the stock markets.

I have several live chart monitors in my own office and the /and /ETH are side by side (i.e. the small cap futures and the Ethereum Futures). I have to tell you that I could just as well switch off a monitor because they are practical and the same . Sometimes it seems as if they are going to follow tick for tick. Listen if I sought to act small cap futures, I would trade small cap futures. I didn't ask about it.

I think there is actually a good reason why assets are connected to the hip: Because the animal spirits and the trillion dollars in Fiat , which have forced such high prices, everything . I mean, only take a look at the last February and March when the stock market got so briefly into the spin. What did crypto do? Do you have your own head? Not at all. It fell right next to it and very dramatic and hit the range of $ 3,100. About 95% under where it got this year.

So it really comes to two closely related reasons, from which I just feel uncomfortable to remain invested:

  1. My observation is that the stock market psychology is driving crypto, and frankly I would rather act in an independent market;
  2. My observation of the stock market, especially in view of the seasonal weakness of the stocks, makes me confident that shares are susceptible and therefore is so crypto.

    3. Well, I felt that crypto had no basis when I wrote my contribution a week ago, but I still dealt with something . Most were profitable - some very nice - but on the whole I would have been absolutely better nothing and stay all the way. In fact, I will continue and transfer $ 30k from from my account and push it back to my boring old checking account just because I don't take my capital anyway. My zeal has the best of me.

    don't get me wrong. I still have a respectable win, and I still have the intention of getting in with both legs. But I would feel much better if I realized that crypto acts with its own mind and, even better if crypto was dragged and shouting during a nice, hearty decline in stock prices. I would like to make a few bargains if such an event were taking place.

    The way it is now, however, I look at the long-term Ethereum chart, and he does not scream "Bullish Base" to me. Instead, it screams uncertainty . In addition, these horizontal lines that I have drawn are vital levels of price support. In particular, if it is broken, the lower prices mean, I think.

    eth-price diagram

    ETH price diagram

    Hope is not lost. Almost every diagram interesting for me is more or less similar to the Litecoin chat below. What I mean by that is that it consists of:

    1. an enormous bullish basis;
    2. a significant price increase;
    3. a drop in prices;
    4. the formation of a smaller bullish basis;
    5. Action -bound action since then between support (green line) and resistance (red line)

      6. break through the red line and I think we're going to the races. Break the green line and things look very dark and very chaotic.

      ltc-price diagram

      LTC price diagram