Did new buyers just fall into a big trap?
| Dear Reader, Did new buyers just fall into a big trap? Bitcoin [BTC] hit its highest level since mid-May over the weekend. What started as a breakout above US$30,000 has morphed into…well, some serious momentum. Put it that way. The largest crypto gained Sunday for an 11th day in the past 12 and hit US$42,606. ‘A run like this certainly suggests some flow backing,’ said Jonathan Cheesman, of crypto derivatives exchange FTX. But don’t get carried away, says Ryan Dinse. This price action could be deceiving. There could still be more downtrend in force in the medium term. If you read his latest forecast report you’ll see why. This knowledge will put you several steps ahead of those blindly buying on weekend momentum this week. Also… It will show you that a strategic opportunity has just arisen that many people aren’t seeing right now. It’s a special way to gain crypto exposure for the future…as the whole space lurches between downtrend and uptrend. If you’ve been out of the market until now…or are interested in building a crypto portfolio allocation from a few thousand dollars to, say, 3% to 5% of your whole portfolio...you should be looking at the most sensible strategy for doing that. One that works for where the market is poised right now. And one that takes daily volatility out of the equation. You’ll find just such a strategy here. Regards,
Cheers, James Woodburn, Publisher, Fat Tail Investment Research |
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