Hey, Ross here:
While we wait to see how the market will digest the just-released inflation data, let’s look at a chart that can give some indication of the market’s mood.
Chart of the Day
This chart shows the price of Bitcoin from its inception all the way till now.
Bitcoin surged by nearly 10% yesterday, breaching the $60,000 mark.
Bitcoin’s strong price action over the past few weeks tells me the mood of the overall market is still “risk on”…
Which is generally a good thing for us traders.
Now, while Bitcoin’s current price is still a ways off from its all-time high of $69,000 back in November 2021, its price is now bumping into defined resistance levels (green line on the upper right).
Should we see it break out beyond that, it would tell us a lot about risk sentiment in the market.
Insight of the Day
When market sentiment is risk-on, the effect of “surprise” catalysts are amplified.
When positive unexpected news about a stock – aka “surprise” catalysts – becomes public, it often causes a jump in the stock’s price.
But just how big that jump would be is largely correlated to the overall market sentiment…
Meaning the more “risk on” sentiment is at the moment, the bigger that price jump tends to be…
Which is why later today at 12 p.m. Eastern…
I’m going LIVE for a masterclass on my “insider” strategy that will allow you to target these “surprise” catalysts few see coming.
This strategy’s most recent pick is up 58% in two weeks…
And with risk sentiment the way it is now, I believe this is just the start.
So click here to guarantee your spot for my live masterclass later…
And watch out for the login details in your inbox soon.
See you at 12 p.m. ET.
Embrace the surge,
Ross Givens
Editor, Stock Surge Daily
