Stocks Soar While Crypto Sinks: Is the Tide About to Turn?

it's Friday and we've been through an important week where we got PPI, CPI that turned out good and the stock market will be closed for the weekend after Friday so far it's not that dramatic.

but the next coming is going to be absolutely dramatic and much more volatile in my opinion. Usually we see uptrend on weekends and scam pump which is because of the stock market is closed and people can't stop gambling their money.

I was looking at some of charts and saw interesting movement happening across in the market and thought it would be better to make a plan for next week.

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Stocks are Healing, Crypto still a laggard

Incase you've been stuck in crypto bag-holding those coins and thinking everything is going down in value than you're wrong because stocks are absolutely crushing to upside again.

Looked at SPX and it already did a good recovery in that good old V-shape style which is bullish.

As well as Nvidia is back up from the trenches to now soaring high which is a sign that stocks will continue to do good because Nvidia is leading market since last year.

DXY isn't looking good anymore

In last quarter DXY was doing good and it pulled rest of markets down. Now the thing is it is going to test a strong support from where things will become interesting.

As the next coming month hike rates will be cut than the reaction we'll see on this chart will tell where market is going.

If dollar went up from here it'll eventually make it worse for crypto and our bags.

So, I'm waiting for some disaster like more fud because of elections in US pushing dxy down and than crypto picking up.

But GOLD is living upto expectations

One thing's that at All time high is now GOLD and I've not seen anyone talking about it but I did like week ago when was observing this shift.

Recession or whatever is coming ahead look's like institutions are ready to brace that impact by being located in GOLD though our digital Gold aka bitcoin isn't living upto expectations of many.

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Altcoins are on BTC mercy now

There's no way I'm going to trade bitcoin or any altcoins till we're going to clear direction not chopping in higher low range from $58k to $62k.

I've looked almost all my favourite altcoins chart across the market and couldn't find a single chart that's bullish.

It's just looking ugly and seems like altcoins will crash about -20% within an hour which is now holding on bitcoin mercy.

So there's not much to trade but to observe and stack, built that spot portfolio for next quarter.

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Wrapping Up...

In the end I'm expecting stocks to continue uptrend while crypto will follow but it is going to lag until stocks meltdown and money flow back to crypto.

All eyes on next month rate cuts and than I'll think to touch that leverage button. For now it seems more better to slowly purchase Ai, RWA coins with narratives that will continue.

I wonder how you're planning these days and what's your observation says about the market. Feel free to share your thoughts with me in the comments so we can build up a strong thesis.

fin.

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_{Thanks for reading.Greetings.}

All the content and images are mine except indicated. No copyright infringement intended. 16/08/2024.

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