Bitcoin just wasn’t in a place to bounce the way most people were hoping. A lot of technical damage had been done.
And, while I conceded that an oversold bounce was likely the next move, it looked to me like it wouldn’t last.
That’s just about exactly how it turned out.
Here’s the chart I sent you two weeks back, showing my projection for the price of bitcoin…
And here’s what bitcoin looks like today…
As you can see, the bounce we got was about half as strong as I thought it would be… and I was leaning bearish to begin with.
The bounce in the MACD and RSI indicators was also much weaker than I predicted. The momentum in bitcoin is running dry… And the picture now looks even more dire.
Unless bitcoin catches a big bid and forms a higher low on this chart, the next move is likely down to bitcoin’s major support line at about $7,000.
If that fails to hold, the next major support at around $5,000 comes into play.
I’ll keep watching the King of Cryptos, and I’ll let you know when I think it’s time to trade it on the long side. I am looking for a chance to buy into it. It just seems to me that chance is still several days away… or maybe even a few weeks.
For those holding on to bitcoin for the long haul, this volatility must be frustrating.
But for traders… it’s actually one of the best places to put money to work.
Bitcoin has massive, volatile moves regularly. And, if you use the right system, you can predict them well ahead of time.
You’ve heard a lot about my new stock trading system over the past couple weeks. It works great on a specific group of stocks, which I’ll reveal tomorrow night.
But, I’m starting to notice that it works pretty well on bitcoin, too.
When I used it earlier this year, it predicted the wild upside move from about $3,300 in early February to over $12,000 in June. If you got in when my system flagged the trade, you could’ve nearly quadrupled your money…
On Wednesday, October 23rd, at 8 pm ET, trading legend Jeff Clark is putting on his first-ever stock trading event to reveal…
The S-Force Method: How to Make More Money Than You Can With Options — Trading A Group of Tiny Stocks…
And if you’d like to find out how to trade tiny, $1 stocks and potentially walk away with as much as $4,550… $15,900… and even $30,050 per trade — without using options — you’ll want to register immediately.
You see, for the past 36 years, Jeff’s helped all kinds of people retire rich using options.
But over the past 18 months, he’s started targeting a small group of stocks… and the results have been amazing.
During his testing, he spotted stocks that went on to soar as high as 60%, 90%, 236%, 308%, and even 600% — in very little time.
Now, for or the first time, he’s ready to share his strategy with you.
Here’s What You’ll Get When You Register Today
Friday, October 18th – Coaching Session #1: Why Stocks Can Be More Lucrative Than Options
Most people have no idea that stock trading can be more lucrative than options. In fact, some of the biggest gains are off-limits to options traders.
In this video, Jeff will explain why that is, and show you his secrets for getting bigger gains from stocks.
Sunday, October 20th – Coaching Session #2: One of Jeff’s Favorite Stocks to Trade
Of all the stocks Jeff trades, a handful stand out as the “best of the best.” He’s used them over and over again to generate quick income. For the first time, he’ll reveal one of them to you — including its name and ticker — and show you how to start trading it immediately.
Monday, October 21st — LIVE Real-time Coaching Session
Before the market opens on Monday, Jeff will let you look “over his shoulder” as he analyzes the best opportunities for the week — in real-time. Others have paid up to $2,500 to watch Jeff’s real-time analysis in the past. For the first time ever, you’ll get to do it for free.
Wednesday, October 23rd, at 8 pm ET — Stock Trading Main Event
In an in-depth, on-camera event, Jeff will show you:
Why he’s started actively recommending stocks for the first time in his career
A small group of stocks — which options traders can’t access — that can be more lucrative than options
His system for spotting the best ones
And his 3 favorite trade setups he’s watching right now — including names and ticker symbols
BONUS: Unrestricted Access to Jeff’s Stock Trading Academy. This site is chock full of trainings, tutorials, instructional videos, and more. Others have paid thousands to access some of this information. For a limited time, you’ll get unlimited access for no charge.
“Jeff, I have been with you only 6 weeks but, my god, your intuition, advice, and personable messages are downright awesome!”
— David B.
“Thank you for the educational opportunity!”
— Tony C.
“Your material is the first thing I read every day the market is open. I can’t thank you enough for the insights you provide.”
— Ray D.
“Jeff, you are the very first email I open every morning for guidance… you are incredible… not hype, just a sensitive and realistic view… you are a pleasure in a world of excessive hype.”
— Pam D.
“I was a broker at a major wirehouse for nearly 50 years. I want to compliment Jeff Clark for having a readable great service… as to opposed to all the garbage that I get emails about or I see on Facebook. Thank you, Jeff Clark. Use my name or my initials as much as you like.”
“Turned $1,500 in to $4,350 in 6 days. I bought these on May 28 and sold on June 4th. Thanks for a great trade!”
— Bruce M.
“Just wanted to say thanks to Jeff on his TEVA recommendation today. Great trade — ended up $10,000 for the day. Love your work, Jeff.”
— Dave G.
“I am only trading your refs for one month (June) but have had spectacular success.”
— Thomas P.
“I am new to your service and have done well with your recommendations. So far, I have not taken a loss which is impressive.”
— Scott G.
“Hello Jeff, I joined your service less than a week ago and have just sold half of my first trade: Bought at 0.5979 and sold at 1.48. I believe that would add up to 235%. Not bad for a first trade. Thank you, and please keep them coming.”