Bitcoin Fails to Stay Over $50k with Nick Santiago (Ep #318)

from Daily Market Wisdom with Nick Santiago

For more than 20 years, Master Trader Nick Santiago has been beating the markets. He’s made some incredible calls along the way and now he’s looking to spread the word. There’s no reason that the average trader should be coming up short. So now we’ve started a daily show to bring you up to date on the latest market developments. Nick will be sharing trades and concepts and discussing current trends.


1. More Money Rotation – This market has become a game of Hot Potato. Today, we are just seeing more money flowing from one sector to another. Right now, I’m seeing some strength in consumer goods stocks like $Pepsi (PEP), Clorox (CLX), Hershey (HSY) and others, Energy is also upticking today. on the downside, tech is weak today. The semiconductor sector (SMH) is lower by 1.1%. This is not a big deal but this is just the way the markets have been operating lately.

2. Coinbase (COIN) received a Wells notice from the SEC. The notice is related to Coinbase’s interest-earning product called Coinbase Lend which the company has not launched yet. The stock is down 3.4% today.

3. Bitcoin broke 50k only to get slammed yesterday. It was driven lower and Nick mentioned that the big money was short for the first time on the future. If it closes below 44k on a weekly close, it’s in trouble. The best moves come after a failed moved. Cascading panic coming? It happened with real estate.

4. Gold/Silver got slammed yesterday. It was up strongly on Friday only get hit hard yesterday. Silver is the better play, with more upside to 25.50. Gold had a classic bounce. 1882-1883 is next.

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