On Nov 20, I mentioned in chat that Ethereum looks poised for a breakout – when it was at 360. If it went towards 400 – it could accelerate:
Indeed, from 260 – once it moved toward 400 – it went to 500 quick. But it consolidated before making the big break out over 800 where we are now.
If you watched CNBC Fast Money yesterday – you’ll notice that Tim Seymor made a “secret” recommendation on a crypto OTHER than bitcoin.
Guess which crypto it was.
It seems the opportunity in terms of what is predictable has shifted from the indices to crypto. With stock indices so high – it’s difficult to justify buying so high. Yet, every attempt to go short just gets slammed.
Crypto has been offering much better predictability. Unfortunately, I don’t have a good read on the indices so can’t provide charts on those.
I took gains from Ethereum and bought into some smaller cryptos – we’ll see how they play out. I mentioned some of those in chat.
For smaller cryptos, I’ve been using Binance – though I’ve been having issues verifying my identity with them. So far it seems to be one of the better platforms for getting exposure to various cryptos.