Bitcoin is trading well under $20K today (Sat) and is starting to raise a red flag for global equities this coming week. There are nine trading days left until July 4th Weekend and the question is whether all hell will break loose before or after Independence Day? There is no "If" in the equation.
We first published this "Bullish/Bearish" chart analysis around Memorial Day Weekend with the admonition that under $30K Bitcoin was spelling trouble for the entire financial complex. That under $30K foreboding has come true and continues through this current three-day weekend with BTC now (mid-day Sat) under $18,500. If this is where it still is come Tuesday's NYSE Open, watch out below.
Recently closed out Blue Line Premium trading positions - Closed due to expiration, not conviction:
On Friday we rolled these two expiring positions into new expirations and earlier in the week both services added new positions to take advantage of expected market action over the next four weeks. On Saturday's Weekend Update I updated the TSLA pattern recognition chart with targets for both expected low(s) and 12-24 month highs, New LEAP recommendations will be forthcoming, but first TSLA has to generate a fresh Intermediate Term Buy Signal. That too is expected this summer as laid out in today's Weekend Update.
BTC Alert: As we go to press: $18,234 and dropping,