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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 701 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.
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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...
..“It cost me millions to learn that another dangerous enemy to a trader is his susceptibility to the urgings of a magnetic personality when plausibly expressed by a brilliant mind.”...
Jesse Livermore
.."A radical is one who speaks the truth."..
Charles August Lindbergh Snr
..“The key to successful investing is having everyone agree with you — LATER.”..
Jim Grant
.."I never found beauty in the longing for the impossible and never found the possible to be beyond my reach"...
Ayn Rand
..The time of maximum pessimism is the best time to buy and the time of maximum optimism is the best time to sell"..
John Templeton
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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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