Crypto Weather Forecast- #30 A Climb comes before the Fall

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I am just telling the story about a little noob exploring the Big Bad Crypto-verse and mak... [more]

2 years ago

Topics: Market, Profit, Personal finance, Bitoin, Recession, ...

It´s nice that every so often the market follows my predictions.
It should do that more often, but I guess I just got to enjoy my successes.
Hence we had a nice volatile Saturday, where I was able to sell some of the ETH I made from my AXPR/ETH trade at the top....or at least very much near the top at $1650 and by today we are a $100 lower....or at least very much near a $100 lower.

I think we will reach $1550 today and if not today very soon during this run-up towards Wednesday´s FED meeting.
Or maybe better call it a run down as I do not expect many coins to go up, maybe Elrond´s EGLD as they have this event called X-Day in Paris on the 3rd, 4th, and 5th of November.

It´s expected to get a lot of positive news out during those days so EGLD might perform above market expectations.

But for all other coins it´s probably downhill till Wednesday, and then an almost certain 75-point rate hike again. This should already be calculated into the current price, causing a nice little relief pump.

Hence my plan is pretty simple for this week, wait till Tuesday to buy back the Optimism (OP) I sold on Friday & Saturday and use its profit to buy more OP.

Buy back the ETH I sold on Tuesday/Wednesday and use the profit to buy more XRP as all signals show this lawsuit is coming to an end and it´s Ripple that currently holds the strongest position.

Why do I buy back knowing we have this recession coming?

Because of the below basically.

If I combine my paranoia with knowledge I expect the next 6 months to look like that.

The Composite Man

We all see that recession coming, some people have been screaming about it for months. some have just seen the light, but now it's time for the Composite man to rear its ugly head. If you never met the guy check out the link as I warned you about him before.

Basically what I expect is still a dump at the end of Q4, possibly Q1. We will see some more exchanges fall, some more situations as we currently see with Freeway. Outside of crypto unemployment will rise, and inflation will not drop yet. The market is looking ahead and pricing that in....soon.

As soon as these big players funding the Composite man have taken their little bit of profit. They need one more climb before the fall.

Bottomline Forecast

That climb can only come now, by the end of November it will be too late. Companies will start looking to clean up the books and unemployment will rise, the word recession will get louder and that recession will drive stocks and cryptos to the real bottom. So I will follow the big boys' lead and sell on the way up if there is any over the next couple of weeks, to have cash and stables to scoop up the real dip.

Thanks for the read and please hit that like button, it's one of the few free things in life!