Overhead
Tim Knight | Sep 24, 2021 12:20AM ET
Just yesterday morning, I did a premium post called Three Exceptions in which I told Slope’s Gold and Platinum users of the three, and only three, cryptos which I had decided to buy. All three of these worked out great, with ATOM in particularly roaring higher.
I am out of these, with good profits, and am once again totally flat. My reason has nothing to do with the charts. It has to do with context. Because as I look at the daily chart of Ethereum……….
…….and Bitcoin……….
…….I see two words flashing in giant red neon letters: OVERHEAD SUPPLY. As great as my “three exceptions” are, I am no longer comfortable hoping that they will simply defy the bearish setups that I’m seeing in the Two Kings of crypto. Perhaps I’m wrong. But I’ve stepped aside once again.
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