Party Week: Day 2
Crying won't help you, praying won't do you no good. No, crying won't help you, praying won't do you no good. When the levee breaks, mama, you got to move.
Happy 50th for this album. I also had no idea this drum intro was sampled so much. Pretty cool.
Today will be a quick update on the market cycles from the Q4 Forecast.
BTC
The first peak suggested around mid-October was on target, as was the decline into early November. Here’s a photo with some updated notes on the daily cycle forecast.
ETH/BTC
The downturns in the chart showcase the bullish spurts of ETH while BTC is stagnant or ranging. There’s still more upside left in this ETH rally. Seemingly a bit more than BTC.
ETH
ETH is a pretty clean chart. I think it’s likely there is plenty of bullishness left but may need some prepping for it with a pullback.
Fear & Greed Index
There are plenty of references on this index but basically, it’s just a measure of market participants’ sentiment. Fear is typically correlated with bottoms and Greed is typically correlated with tops. The fear cycle bottomed a bit earlier than the Q4 forecast. This one is a new data set that I’m measuring. I’ve got another one that I may use in place of this but aggregating the data is cumbersome. Hopefully, I can automate that process and replace F&G.
I’m hesitant to include this as it’s rife for misuse by readers but, I just sold off some of my SOL. It may still have a little room to run and I didn’t exit entirely because peaks are notoriously tricky to time and SOL is one of my long-term holds but these are the types of signals I look for to consider exits or to lock in realized gains.
If you have any questions feel free to ask. Also, drop in a comment for the altcoin showcase post for Saturday. My list is looking pretty bare. Is anyone even reading this??
:-p
@theprivacysmurf
Reading all of them, Terry…twice, and three times, maybe more! Lol
Thank you!