Is This It?

Weekly Crypto Market Update: Is The Crypto Market Headed for New Yearly Highs?

Can crypto confirm a breakout this week and kickstart a year end rally?

Last week I posted an update on Bitcoin price action where we called the most recent low on the dot at 26,640. We noted the extreme bad sentiment, the negative headlines on the New York Times, and the positive reversal setup gave us a good opportunity to bet against the crowd. You can see that post here.

We also wrote a post last week breaking down the price and time convergence on the US Dollar, which is telling us the top may be in meaning risk assets like Bitcoin could rally. You can read more about that here.

Finally, I recommend you watch the video I made in this post from September 21st where I detailed this exact setup on cryptos and how it could kickstart a year end rally. You can start the video at 14:25

So that leads us to the move up we have had over the last few days. Question is can we sustain this rally or will we fail again?