- A snapshot of the kind of crypto research that Fundstrat and Tom Lee team produces. Their work is best in class.
- BTC’s long-term profile remains positive – Despite BTC’s the volatile swings through 2018 into 2020, the longer-term chart profile remains positive with BTC in narrowing consolidation above its long-term uptrend. Granted, a series of lower highs (12/2018, 06/2019, 2019, 02/2020) remains in place and break below BTC’s 2015-2018 uptrend (7.7-8K) would be an obvious technical concern/problem. However, a break has yet to develop and a move above the 10-11K resistance band would be an important positive technical development establishing a higher high and increase the likelihood BTC is resuming its longer-term uptrend. Slide 3
- Another tactical opportunity to accumulate developing – Another short-term low is likely developing following BTC’s pullback from a resistance band coinciding with 50-62% retracements of its 2H 2019 declines. The February pullback is now showing evidence of bottoming at the upper end of the 8.1-8.4K support band which coincides with 50% retracement of the December-February decline. Daily RSI is suitably oversold to support increasing exposure. Slides 4-5
Crypto TA Strategy by Fundstrat
Classarius is the only data driven news for blockchain, cryptocurrencies and technology from investment professionals.
Disclaimer: We do not provide investment advice or strategies, this article is not intended as such but only to provide you the reader with information. Please conduct your own research before any investment of any kind.