Weekly Watchlist Update

We saw a small flash crash on Bitcoin this week that was quickly reversed when the fed decision came out. However, we have yet to make new highs and I believe this big rally has stalled out for the most part. This is actually good news since this is typically when alts perform best.

I continue to follow the plan on the overall market. If you are unsure what that is please go check the weekly market outlook and the Wednesday update. The more I look into it the more I believe that the 42k area will be major resistance and we will likely get one more push up in early January. That could give us a slight new high but I don’t believe it will last long. We are reaching a point where you will want to start considering a profit taking strategy if you are up big.

I will have more on what I see coming in the next weeks and months next week but for now our watchlist have been performing very well and I see at least a few more good weeks ahead.