Kitco News, Released on 5/20/21
Stocks and Bitcoin rally on Thursday, but this is just a “dead cat bounce,” said Chris Vermeulen, chief market strategist at TheTechnicalTraders.com. Vermeulen told David Lin, anchor for Kitco News, that stocks show selling signs, and while Bitcoin has some more upside left in this bounce, he expects major resistance at the $50,000 level. For these reasons, Vermeulen is 100% allocated into cash right now.
0:00 – Bitcoin cycles
11:34 – Equity market, 100% cash
Chris Vermeulen has been involved in the markets since 1997 and is the founder of Technical Traders Ltd. He is an internationally recognized technical analyst, trader, and is the author of the book: 7 Steps to Win With Logic.
Chris Vermeulen is now 100% in cash ahead of Bitcoin, stock market crash added by Herman James on
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