The Latest On Bitcoin And Ether (The Cestrian Circle Newsletter)
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Ain’t Misbehavin'
by Alex King, CEO, Cestrian Capital Research.
Obviously right at this moment anyone calling for a bounce in equities etc looks a genius; that doesn’t mean that the price patterns in crypto foretelling the story was any less correct. In our human analysis and in our crypto algorithm service (here) we have been bullish Bitcoin and Ether for some time.
They each bottomed on 6 February and have risen considerably since then, whilst the S&P and Nasdaq have slowly sold off.
At the time of writing, it’s post-market trading hours on 7 April and all risk assets are trending up in the wake of the two-week Iran ceasefire agreement. That includes, of course, the equity indices and various high-beta stocks. But this rise was foretold for some weeks by crypto - partly in the price, but mostly in the volume. Look at the volume x price spike down here at the lows in Ether.
And in Bitcoin.
Using this volume x price indicator to spot institutional accumulation can be slow; it doesn’t, as a method, provide much of a dopamine hit. But when it works and you have spent time building up a position just behind not in front of the juggernaut - it can be very satisfying.
Here’s our wider take on the Wyckoff Rotation Cycle.
Now if indeed, institutions have been jockeying for position, we may see an up-move soon in both names. For our paying members of Cestrian Circle and Inner Cirle, we’ll give you our best outlook on both Bitcoin and Ether.