Bitcoin Beats SpaceX. Here’s Why.
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SpaceX (SPCX) looks okay after earnings. Nothing special.
You know what does look good? Bitcoin and crypto currency stocks like MicroStrategy (MSTR) and Coinbase (COIN). Sami Abusaad explains:
Reading the Charts: Simple Lessons from Crypto, Gold, and Market Hype
When markets get chaotic, it is easy to glue your eyes to every breaking headline. Or you can do what Sami does. Go tot he charts.
Take crypto, for example. Instead of sliding after its big rally, Bitcoin held steady near its recent highs and built a solid, rounded base on the hourly chart. That quiet strength gave crypto-linked stocks like MicroStrategy, Coinbase, and Robinhood (HOOD) plenty of room to take off. When a market refuses to drop on pullbacks, it usually means buyers are quietly waiting in line.
Gold is setting up a similar opportunity. On the monthly chart, gold pulled back to a sweet spot right along its 20-period moving average. While broad funds like GLD can feel sluggish, individual gold and silver mining stocks often offer cleaner charts and bigger upside for buyers looking to get in. Energy stocks show this same forward-looking behavior. Meanwhile, The energy sector (XLE) has steadily pushed higher, proving that price action usually sniffs out geopolitical tensions and supply shortages well before they make the evening news.
Treating charts as your main guide does not mean ignoring the real world completely, but it does mean being selective. News really only matters when it drives a mechanical move, like in a secondary share offering. When a company sells extra shares, the stock often gaps down hard at the opening bell. Once that initial wave of panic selling dries up, dip-buyers frequently step in to ride the bounce back up.
The biggest lesson right now is knowing what to buy and what to leave alone. A giant like Tesla (TSLA) might look strong on longer charts, but chasing it into resistance right before earnings is an easy way to get burned/ waiting for a pullback offers a much safer entry. Meanwhile, former market favorites like space stocks AST Spacemobile (ASTS) and RocketLab (RKLB) have broken below key support levels. Once the excitement fades and the chart breaks down, it is usually best to step aside and let the market find its floor.
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