Yesterday we noted our concern over the possibility of a blow off top, and future impending weakness (here). Furthermore, we noted that we'd be carefully monitoring our Quant-1 indicator (which is the first to react to strength or weakness, but more prone to whipsaws than our longer term Gemini and Typhoon indicators). With the close of Saturday's trading session London time, we note that Quant-1 has now turned negative. Given the extremely volatile trading over the last 3 days, even by Bitcoin standards, along with the apparent "blow off top", and the negative Quant-1 indicator, we now recommend taking partial profits NOW at $14,411. Note our Quant-1 indicator on the bottom pane. We've highlighted each period with an ellipse where it had indicated future weakness in Bitcoin. Whatever level of core holdings you wish to maintain rely on your personal risk tolerance. Luckily with our buy in at $7849, we have plenty of room to let our profits ride. However, overall, we see no reason to not take at least some profits at this point.
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