Wall Street closes at a record for the first time since end of January
A couple of days ago, Bitcoin was near lifetime highs but was simultaneously at roughly the same price it was seven months prior. It didn’t seem like much an achievement, considering the tremendous amount of buying and political tailwinds crypto has enjoyed all year.
On my tastylive show yesterday, however, I specifically said that Bitcoin seemed to be at the cusp of a breakout, and sure enough, shortly after my show, it rocketed higher to a new lifetime high and then, just this afternoon, rocketed yet again more thousands of dollars. So, bear though I may be, I called this one right.
Looking at the daily chart of Bitcoin (as opposed to the minute bars above), $BTC may well add tens of thousands more from here, if its breakout is anything like the last one it executed. I stopped trading crypto back in 2021, but as a chartist, I’ve always been fond of the stuff, and I wouldn’t be surprised to see all this pent-up energy get expressed in $BTC going to – – I dunno – – $140,000 or so? It’s anyone’s guess.
Having said that, I thumbed through ninety different crypto charts that I follow, and I found five for you that I thought you’d find interesting. They all seem fairly well-poised to follow on the heels off a $BTC ascent, in case such were to transpire.
Algorand (ALGO):
Binance Coin (BNB):
Dogecoin (DOGE):
Chainlink (LINK):
Monero (XMR):
Allow me to put one fly in the ointment, however. Ethereum is enjoying a particularly strong lift right now, but I would at least like to point out the formidable broken trendline it’s mashing up against. It’ll need to clearly cross this line and make it relevant, because failing to do so and sinking away from this line will not be helpful to its other crypto compatriots.
In any case, congratulations to all your HODLers out there.