Return of the King?
Updated
Historically, the basis bband on the weekly interval has been the deciding threshold for major trend reversals.
Watch for the weekly price to kiss this line around $950, followed by a tempered continuation of the uptrend. A breach of this line would signal a downward move to the upper 600s and possible bear market.
Keep an eye on the fork debate, but don't obsess. The Law of Slow Moving Disasters says that we'll come to an anticlimactic solution. You know what happens when we do.
Good luck out there.
- A cross upward in August 2013 signaled the beginning of the late 2013 bubble.
- A cross downward in February 2014 marked a denial of continuation in the uptrend, confirming the 2014-2015 bear market.
- A cross upward in June 2015 signaled a the end of the bear market, clearing the way for the current uptrend.
Watch for the weekly price to kiss this line around $950, followed by a tempered continuation of the uptrend. A breach of this line would signal a downward move to the upper 600s and possible bear market.
Keep an eye on the fork debate, but don't obsess. The Law of Slow Moving Disasters says that we'll come to an anticlimactic solution. You know what happens when we do.
Good luck out there.
Note
dat 950 smooch
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