On my hourly charts, all three (PPO,RSI,MACD) remain in divergence.

Randy, I took this QQQ short setup with you, please keep the frequent updates coming.
thx

I don’t know enough about what’s going on in China to provide any valuable insight. Regarding a flight to crypto from Chinese depositors, my understanding is that China keeps a tight leash on preventing citizens from buying crypto & if the gov’t even gets the slightest whiff of money moving from their banks into crypto that could threaten their banking system, you can bet the penalties would be severe.

Crypto has traded almost perfectly correlated to the stock market as a risk-on asset since the Nasdaq peaked last Nov. As such, it will likely continue to rally if the market can blast thru the current resistance & keep going or it will come down hard with the market in the coming weeks, assuming my read is correct & the Q’s are about to start the next leg down with an initial drop of ~10% over the next few weeks.

Bottom line is to recognize that if you are trading both crypto & the stock market (or individual stocks correlated to the market) that is a highly correlated trade & with little to no diversification. I’ll try to get a video out today & if so, I’ll cover Bitcoin & Ethereum but can tell you that the technicals on both are very similar to QQQ with those 60-minute divergences/wedges.