Crypto Bulls Won’t Want to Hear This

Bitcoin looks ready to break this range. [Jeff Clark's Market Minute]( Crypto Bulls Won’t Want to Hear This By Jeff Clark, editor, Market Minute Bitcoin is setting up for another big move. The “King of Cryptocurrencies” has been stuck for the past several weeks inside a tight trading range between $45,000 and $50,000 per coin. It closed Friday near $47,500 – just about in the middle of its range. And, it looks ready to break that range, in one direction or the other, soon… Recommended Link [Will You Be Blindsided by the Global Chip Shortage?]( [image]( GM and Toyota factories are shutting down… Mass shortages of electronics… Medical device production nearly halted… You may know a global computer chip shortage is happening. You may know something seems to be very wrong… But what you probably don't yet realize–what few so far have figured out… Is what's really causing it. And what happens next for investors. Now a former computer chip executive with over 20 years of experience is stepping forward to tell all… [Click Here to See His Urgent Warning]( -- Take a look at this chart… [(Click here to expand image)]( Notice how all of the various moving averages are now coiled together. This tells us there’s a lot of energy built up in this chart. And, that energy will fuel the next big move. Also, notice how this chart displayed a similar setup twice before in 2021 – in May and in July. We pointed out the potential for a [big move in May](. And, we suggested that move would be to the downside. The bitcoin stocks like Riot Blockchain (RIOT), MicroStrategy (MSTR), and Tesla (TSLA), were behaving poorly. We figured the stocks were discounting future weakness in bitcoin. Two months later, the price of bitcoin had been cut in half. In July, we [once again pointed out]( the potential for a big move. This time, though, the crypto stocks were acting well. They had been rallying even as the price of bitcoin was falling. That seemed like a [bullish]( sign. So, we figured bitcoin was gearing up for a rally. Free Trading Resources Have you checked out Jeff's free trading resources on his website? It contains a selection of special reports, training videos, and a full trading glossary to help kickstart your trading career – at zero cost to you. Just [click here]( to check it out. Since then, the price of bitcoin gained nearly 70% between its bottom in July and its recent peak. As we noted, though, the price has been stuck in a tight range for the past few weeks. The moving averages are now coiled and pointing to a big move. The only question is… Which direction will it break? The “crypto bulls” aren’t going to want to hear this. But, the bitcoin stocks are suggesting the next move is lower. Just take a look at this RIOT chart… [(Click here to expand image)]( RIOT is a bitcoin mining company. While bitcoin is trading about 5% below its recent high, shares of RIOT are down more than 20% over the past month. And, how about this chart of MicroStrategy (MSTR) – the enterprise software company that raised money by issuing bonds, and then plowed all of that money into bitcoin… [(Click here to expand image)]( MSTR is also down about 20% from last month’s peak. If the stocks do indeed lead the price of bitcoin, then the recent action in RIOT and MSTR suggests bitcoin’s next big move will be lower. The action in Tesla (TSLA), though, is suggesting something different. Take a look… [(Click here to expand image)]( TSLA – the electric vehicle manufacturer that made more money in one quarter by owning bitcoin than it did in its entire lifetime by selling cars – is about 5% higher today than where it was trading last month. [Mark Cuban Doubles Down on Odd Tech Investment (How to Join Him)]( So, unlike in May and July when we had a unanimous consensus – the bitcoin stocks are in disagreement here. Two out of three are suggesting the next big move will be lower… one suggests it will be higher. We can’t have quite as much confidence in this prediction as we had the two previous times this year. But, it seems to me the odds favor a move to the downside. We should know for sure within a few weeks. Best regards and good trading, [signature] Jeff Clark Reader Mailbag Do you follow the crypto market? If so, do you think this kind of setup will move bitcoin lower? Let us know your thoughts – and any questions you have – at feedback@jeffclarktrader.com. In Case You Missed It… [Congress’ Next Move is Insane]( Legendary investor and billionaire Stanley Druckenmiller has just issued a major warning. Congress is about to pass a bill that could have disastrous consequences for our nation. He said: "If I was Darth Vader and I wanted to destroy the US economy, I would do [that]." Unfortunately, the Wall Street Journal says most investors are unprepared. By the time you see this message, this bill may already have become law… and it might be too late. [Click here to get the details and see one simple move you can make now to protect yourself.]( [image]( Get Instant Access Click to read these free reports and automatically sign up for daily research. [image]( [The Three Best Gold Coin Deals on the Market Today]( [image]( [How to Earn Free Bitcoin]( [image]( [An Insider's Guide to Making a Fortune from Small Tech Stocks]( [Jeff Clark's Market Minute]( Jeff Clark Trader 55 NE 5th Avenue, Delray Beach, FL 33483 [www.jeffclarktrader.com]( To ensure our emails continue reaching your inbox, please [add our email address]( to your address book. This editorial email containing advertisements was sent to {EMAIL} because you subscribed to this service. To stop receiving these emails, click [here](. Jeff Clark Trader welcomes your feedback and questions. But please note: The law prohibits us from giving personalized advice. To contact Customer Service, call toll free Domestic/International: 1-800-752-0820, Mon–Fri, 9am–7pm ET, or email us [here](mailto:contactus@jeffclarktrader.com). © 2021 Omnia Research, LLC. All rights reserved. Any reproduction, copying, or redistribution of our content, in whole or in part, is prohibited without written permission from Omnia Research, LLC. [Privacy Policy]( | [Terms of Use](