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Created on: 1/12/2023 1:17:33 PM Last Update: 1/12/2023 1:33:58 PM Posted by: RTT
WARNING: This entry is 856 days old. It may contain broken links, out-dated or misleading content. Please read on with caution.
1 POST
Hot pick for 2023 - 2
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 This is pick number 2. It is number 2 as the volatility is extreme and a new low is not off the table.
Ethereum is likely to recover off its lows, however unlikely to make new highs in 2023.
Some points:
- Both Bitcoin and Ethereum are managing supply shocks (BTC - MT Cox coin release, ETH - Stacking release post merge) to ensure price recovers.
- Big down moves end on big bad news, the FTX crash should be the bad news to end the crypto sell off (well pending).
- New liquidity is arriving to world markets via the Chinese re opening and a lower US dollar.
- The FED's balance sheet reduction is being offset by the Dept of Treasury (Yellen) use of the TGA account.
- The reduction of world wealth via Bonds, Crypto, World Stock markets is near $30 trillion USD, the damage has been done to lower inflation concerns. The inflation fix is working.
- The greatest pain trade is for sold off risk on markets to recover.
- The US has a balance of payments issue in 2023, who will buy excess USTs. The FED of course!
Chart ETH - Notice how $ETH moves between green channel support and resistance lines.
Click for popup. Clear your browser cache if image is not showing.
NOTE: Posts here are the lite version, more depth on each subject can be found via our RTT Plus membership.
Changes in the world is the source of all market moves, to catch and ride the change we believe a combination
of Gann Angles,
Cycles,
Wyckoff and
Ney logic
is the best way to ride the change, after all these methods have been used successfully for 70+ years.
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Investing Quote...
.."While I have made it a practice to limit my risk in most cases, I can trace most of my principal losses to my failure to place stop orders when the trades were made."..
Richard D Wyckoff
.."Look at market fluctuations as your friend rather than your enemy; profit from folly rather than participate in it"..
Warren Buffett
.."I never found beauty in the longing for the impossible and never found the possible to be beyond my reach"...
Ayn Rand
..“Because of the extreme challenge, one must commit full attention to it.” Market speculation is “no different than trying to be a successful doctor or lawyer … you simply must devote yourself full-time to the study of your craft”...
Bernard Baruch
.."It is better to keep your mouth closed and let people think you are a fool than to open it and remove all doubt."..
Mark Twain
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We at readtheticker.com hold the view that a mix of stock chart technical analysis, Richard Wyckoff, William Gann and Jim Hurst methods plus market fundamentals allows the investor to formulate a very sound market opinion. These attributes are mutually inclusive and must be weighted equally before investing or trading in any Stock, ETF, Currency, Bond, Commodity, CFD or Mutual Fund
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