Catching Up with Crypto
MSTR -9.81% Add to/Remove from Watchlist Add to Watchlist Add Position
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Please name your holdings portfolio Type: BUY SELL Date: Amount: Price Point Value: Leverage: 1:1 1:10 1:25 1:50 1:100 1:200 1:400 1:500 1:1000 Commission: Create New Watchlist Create Create a new holdings portfolio Add Create + Add another position Close BTC/USD -0.55% Add to/Remove from Watchlist Add to Watchlist Add Position
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Please name your holdings portfolio Type: BUY SELL Date: Amount: Price Point Value: Leverage: 1:1 1:10 1:25 1:50 1:100 1:200 1:400 1:500 1:1000 Commission: Create New Watchlist Create Create a new holdings portfolio Add Create + Add another position Close ETH/USD -0.15% Add to/Remove from Watchlist Add to Watchlist Add Position
Position added successfully to:
Please name your holdings portfolio Type: BUY SELL Date: Amount: Price Point Value: Leverage: 1:1 1:10 1:25 1:50 1:100 1:200 1:400 1:500 1:1000 Commission: Create New Watchlist Create Create a new holdings portfolio Add Create + Add another position Close
As we all await the oh-so-important CPI on Wednesday morning, let’s end the day with a couple of crypto charts. The crypto market peaked about four weeks ago (unlike tech stocks, which keep roaring higher) and, should Bitcoin cross below the horizontal I’ve drawn, the selling should accelerate. As it is now, BTC has already shed about 10% of its value.
BTC Price Chart
Ethereum has also backed away from its multi-month rally, and the failed bullish breakout is worth noting. The “risk-on” psychology of surging crypto definitely can feed or detract from zeal for equities.
ETH Price Chart
Naturally, equities tied to the hip of crypto have also suffered recently. Michael Saylor’s Microstrategy (NASDAQ:MSTR) has held below its right triangle top for many months.
MSTR Price Chart
I’m going to spend the evening doing a bit of tinkering with the site. I’m as “in position now” (70% committed) as I care to be until we know what’s going on with the CPI and the reaction from the market.
