• The Bitcoin price stayed near $35,000 and analysts predict this number to be an important one.
• An increase higher than this could bring Bitcoin back to all-time highs of $41,000 or so, but a heavy dip below it could cause a downfall to $30,000.
• Although the longterm forecast remains slanted to the upside, more losses could come soon,” strategist Daniel Moss said recently.

Bitcoin dropped Wednesday, going for its biggest fall since August, as a stronger dollar and profit-taking went through $172 billion of Bitcoin pricing since the beginning of the week, leaving the number at a vital crossroads. 

Other coins like XRP and Ethereum, and smaller alt-coins Cardano and Litecoin declined after days of greater volatility. 

Trade in cryptos has been increasing for the past five months. Bitcoin has gone up by 230% during this time, breaking a record of $41,000 on the 8th of January, while Ethereum raked in a gain of 217%, causing many top investors to warn about the dangers of a bubble burst. 

Investor Mark Cuban said on Tuesday that cryptos look like the tech bubble of the 90s, but added that any bursting would have some surviving coins, while others would fail.

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“The crypto market has been under attack recently, with Ethereum and Bitcoin going lower as an increase of risk aversion takes over the global markets. Although the longterm forecast for crypto is slanted to the upside, more losses look possible in the coming days,” strategist Daniel Moss stated in a memo.

Bitcoin was at $34,580, up near 1.65% on the day on Coinbase’s exchange.

With the dip to $35,000, the price is staying near important technical numbers on the charts, and a significant increase, or significant decrease, could make way for the next skyrocketing toward new highs, or a bitter decline, analysts claim.

“Failing to lock in a strong grasp above last week’s close could allow sellers to push prices back to the psychological foundation of $30,000. Breaking through that could push us towards previous resistance at $19,891, Moss stated.

Bitcoin is still 95% higher than last month, but the charts reveal this latest change in price has created many support levels. 

The price is closing in on important Fibonacci retracement levels. Fibonacci retracements are horizontal lines that reveal where resistance and support are possible based upon the price’s highs and lows and a break of these lines can very often cause a huge shift in the price either lower or higher. 

An analyst for FXEmpire, Chris Svorcik, said the asset must stay higher than $29,762, which is the 50% mark between the high of January 12 and the low of December 11, to avoid dropping near $26,000.

“If the price stays higher than the 50-61.8% Fibonacci area, there is a good chance of a continuing increase and a new all time high. But a dip beneath the Fibonacci levels will change that,” he stated.

Meanwhile, Ethereum, which was trading up 2.8% on the day at a number of around $1,079, also is at a pivotal point on the charts. The price went to a three-year high on Sunday, hitting $1,350. But its downturn since has given up over half of the gains it earned since 2021 kicked off, leaving it right at the Fibonacci level.

“Ethereum needs to go past the 23.6% FIB and $1,069 to support a push on its major resistance level of $1,131,” Bob Mason, a technical analyst, said. 

“But for Ethereum to go back to $1,100 prices, overall market support is needed, ” he said, going on to add: “In the circumstance of a prolonged cryptocurrency rally, Ethereum may try resistance at the $1,250 marker before any dip occurs.”

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Senators have promised to create a new coronavirus relief package — including another stimulus payment to many people — one of their top goals when they takeover the chamber.

“Emergency relief is not over, far from it” Chuck Schumer said to lawmakers on Tuesday. “Democrats wanted more in the previous bill. We want to increase payments to a sum of $2,000 — we’ll get that done.”

The DNC now has control of the Senate by the smallest of margins after two wins by Raphael Warnock and Jon Ossoff in Georgia last week. Putting them at an even 50-50 split with Republicans, with VP-elect Kamala Harris as the tie-breaking vote.

The last public arguments in the Georgia races centered around the possibility of $2,000 stimulus checks being sent to Americans dealing with the Covid pandemic. It was and still is a popular issue of both Democrats and President Trump.

“If you send these two to D.C., those $2,000 checks will happen,” Biden told voters about the Georgia elections. “But if you send Loeffler and Perdue, those checks won’t go out. It’s that easy. The power is truly yours.”

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Washington has already sent most Americans two direct payments: The first was up to $1,200 for individuals and the second was up to $600 for individuals, which was delivered this month.

On top of raising the payments by $1,400 to make good on the figure of $2,000, the new stimulus would give money for small businesses, vaccine distribution, schools, and state and local governments, Schumer added.

“We will instantly get to work on delivering that goal,” Schumer said. “As our first goal of legislation, we are preparing to discuses more COVID relief.”

But it’s uncertain if Democrats really mean what they say. For example, it’s unknown if they have enough votes to pass any relief bill: This Friday, Democratic Senator from West Virginia, Joe Manchin, said he would “absolutely not” vote to send a $2,000 stimulus check, which puts a cloud of skepticism over the entire thing.

“No, absolutely not. ” Manchin said to The Washington Post this Friday, when asked if he would agree to new stimulus checks. “Our first job is getting people vaccinated.”

“How will that money help us get jobs back or find people a new job to replace the one they lost?” he went on. “Sending another check won’t do that for a person that’s already had a check.”

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Patience is truly a virtue. But unfortunately, it’s not as widespread among investors as it should be. With many people selling a stock way too soon.

Staying with a stock is much easier when its long-term forecast looks good. The great news is that there are many stocks that fit that description. Here are three excellent growth stocks  you should buy and hold for the next decade.

1. MongoDB

Disruption is coming to the database market. And don’t believe for a moment that major database companies don’t see it. There’s one company in particular they’re watching closely: MongoDB (NASDAQ:MDB).

MongoDB’s trailing-12-month revenue growth of 227% over the past few years completely destroys the numbers of industry giants like Microsoft and Oracle. Its price gains have also been amazing during this time, with Mongo’s shares increasing up to 1,170%.

The secret to MongoDB’s jaw-dropping growth is the cloud. The Atlas cloud database system is the largest growth driver for the company. That growth could get even better thanks to their announcement this past October of Atlas’ support for distributed databases spread across many different cloud hosting providers. 

Despite its amazing growth, MongoDB’s market cap is near $22 billion. I believe the company will keep capturing market share from the other players in the database industry. And it’s quite realistic that MongoDB will join those big players within the next 10 years.

3. Teladoc Health

The quick rise of telehealth is, without a doubt, among the most significant long-term results of the coronavirus pandemic. As the top provider of telehealth services, Teladoc Health (NYSE:TDOC) is an an obvious beneficiary of this crisis.

Teladoc had strong growth going into 2020. But the pandemic accelerated the company’s growth to greater heights. Over the pas few years, Teladoc’s trailing-12-month revenue has gone up by more than 300%. In its most recent quarter, the company’s revenue more than doubled year over year. 

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Can Teladoc keep its top position in the market with more competition showing up? I believe so. Much of the company’s recent growth has come from acquisitions (although also delivering strong organic growth). My thinking is that Teladoc will keep scooping up other companies to boost its market domination.

The consulting firm McKinsey & Company says that the American virtual care market will be near $250 billion even after the pandemic ends. But even with its rapid increase, Teladoc’s annual revenue is just around $1 billion. I’m certain the company will grow to greater heights over the next decade as revenue continues to grow.

3. Etsy

Things that are truly one of a kind are not easily found. But that’s a really good description of Etsy (NASDAQ:ETSY) and the available products on its platform. No other retailer can match their offerings of unique handmade goods.

Even Etsy’s growth is unique among companies like it. With its stock increasing by a whopping 800% over the past few years. Trailing-12-month revenue nearly 4xed during that period. In Etsy’s most recent quarter, its gross sales went up 2.5 times quicker the Census Bureau’s benchmark for the e-commerce industry.

Can Etsy keep this strength up? I believe so. Actually, I believe its growth will get even better. Due to the pandemic, more people are using Etsy than ever before. Sure, many of them only visit to buy fashionable face masks. But I fully anticipate that initial singn up to Etsy will lead to more purchases.

Etsy’s potential over the next 10 years is terrific. The market size for the types of products on its platform is at least $100 billion annually. Making their real potential market possibly closer to $250 billion. The company is expected to report around $1.6 billion in sales for 2020. I think Etsy will be much bigger 10 years from now.

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Bitcoin’s incredible rally has concerned many analysts. Those analysts have warned of a large incoming bubble. One of them is Michael Hartnett, chief strategist at Bank of America’s Securities division.

He said recently that the surge in bitcoin’s value could be another example of speculative mania, highlighting the fact that bitcoin appears like “the mother of all bubbles.” The chief strategist says he thinks extreme inflationary prices within the market aided bitcoin’s rally in the past 60 days. Hartnett reminded followers that bitcoin has out-competed other assets with its value surging 1,000% since the start of 2019.

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Bitcoin “wins the title when compared to previous bubbles,” he claimed, comparing its performance to other past bubbles. Bubbles which included a takeoff in gold prices of more than 400% in the 1970s, Thailand’s stock market in the 90s and Japanese stocks in the 80s. He went on to compare bitcoin’s bubble to the dot-com bust in the 1990s and housing crash in the 2000s. Hartnett highlighted that those sectors saw triple-digit percentage increases before catapulting down.

He did not directly claim that bitcoin would go into freefall like these other bubbles. But he connected the surging prices of cryptocurrencies as another example of “very speculative” investing.

Others who have recently predicted a bitcoin bubble include the chief economist at Rosenberg Research, David Rosenberg. Who warned about a bitcoin bubble in December, saying that BTC was “a classic, follow-the-herd trade.” Another warning was issued by NYU economist, Nouriel Roubini, also known as “Dr. Doom”. Who said “the value of bitcoin is completely manipulated by whale investors.” “It does not have fundamental value. We are nearing the time when the bubble is going to burst.”

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Dow futures rose slightly Monday morning, right beside Nasdaq futures and S&P futures, with new tariffs counter-balancing positive Chinese data. Apple (AAPL) is consolidating at a profitable zone. But Amazon, Shopify, Microsoft (MSFT) and Zscaler (ZS) are revealing a sell rule that is always important to follow.

Large institutions will often buy top stocks at 10-week moving averages. But when a stock plummets under this important level in heavy trading, it shows the end of the run.

Meanwhile, Apple’s AirPods were big sellers over the holiday. And overall online sales continue to skyrocket, which is great news for Amazon.com (AMZN) and e-commerce tech company Shopify (SHOP). Mall visitors dropped on Black Friday, but increasing buy-online-get-offline orders show that traditional outlets like Target (TGT) are coping well with lockdowns.

Dow Jones Gives Big Signs

Dow Jones futures increased 0.2% vs. fair value, after going as high as 0.5%. S&P 500 futures went to 0.2%. While Nasdaq futures hit 0.2%. Note: Premarket moves in Dow futures doesn’t always lead to real world trading in the next session.

These futures rose on optimistic Chinese factory data, combining gains on new Trump tariffs vs. Argentina and Brazil.

Chinese activity increased for the first time in half a year. Going up 0.9 point to 50.2, above the break-even level of 50 and defeating forecasts. The non-manufacturing index also jumped from 1.6 points to 54.4. Also, the Caixin survey had Chinese manufacturing increasing at a faster pace, ticking up 0.1 point to 51.8.

The ISM manufacturing index will be out on Monday at 10 a.m. ET and the services gauge out Wednesday and Friday we have the November jobs report.

Meanwhile, in the AM on Monday President Trump tweeted he was reinstating aluminum and steel tariffs vs. Argentina and Brazil, saying they were guilty of “massive” currency depreciation, hurting American farmers.

Stocks Rally

The market rally is looking great. Even after Friday’s small pullback, the Dow rose 0.6%. The S&P 500 went up 1% and the Nasdaq increased 1.7%.

Growth stocks also had a great 7 days. With the best ETFs such as the iShares Expanded Tech-Software Sector ETF (IGV) gaining 1.9% and the Innovator IBD 50 ETF (FFTY) going up 2.3%. While the VanEck Vectors Semiconductor ETF (SMH) increased 1.5%.

Should You Hold Or Sell Apple?

Apple has gained 21% from its flat-base buy point of 221.47. It has now moved into the profit area of 20%-25%. Which is seen on the Marketsmith charts as the lime green area.

With these numbers, most stocks will consolidate or pullback greatly. You may watch a stock go sideways. Or you might see some or all of your gains evaporate. So it’s a great idea to withdraw some profits from stocks after a 20%-25% gain. (If a stock rockets 20% in the first two weeks after a surge, try to hold it for eight more weeks.)

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But on the other hand, some stocks will keep going for long runs. So how should you handle this?

It’s all based upon your confidence in the company and stock. If you believe Apple will be a big winner yet again, you might keep most of your holdings.

The Sell Signal To Watch: The 10-Week Line

Now of course, the market doesn’t care about your emotions or hopes. When a company goes past the 10-week line in large weekly volume, it’s an obvious sign that big funds are selling. Chances are great that the stock will keep falling. Also take into account the relative strength line, which follows a stock’s performance versus the S&P. 

Let’s Discuss Amazon

In 2018, Amazon was winning in a multiple year run. With its huge role in cloud computing and of course e-commerce, Amazon seemed unstoppable.

But the stock went down in the week of Oct. 5. Ending just below its 10-week as the market correction started. The next week, Amazon dropped again in the biggest volume in three months, well under its 10-week. That showed a clear sell signal.

Two weeks after, Amazon went below its 40-week line, which then became another resistance area. Amazon has not yet returned to old highs. 

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Gold futures ended around 25% higher last year with the majority of the increases happening from March 16 to August 7 when governments and central banks were announcing and starting large-scale stimulus plans. But since that high, gold has had a hard time as the economy emerged from recession and officials started to better understand the financial crisis.

In flooding the economy with dollars, officials followed the playbook from the 2007-2008 housing crisis, which at that time, helped bailout the world economy. This strategy seems to be working so far.

The Fed gave dollars away to anyone and gold shot up accordingly since most investors followed the belief that a “weak dollar means strong gold.” But gold began to lose momentum when governments started to see an end to the crisis.

In early August, they began to believe their policies were working and that the money faucet could start to be closed. They continued telling banks and investors that they would again make aggressive moves if needed, but mostly they would keep policy normalized with a few changes if needed.

Once the American election was over and the Covid vaccines were made official, those dollars had to move somewhere. But they didn’t go to gold. People came out of gold and went into higher-yielding things like stocks. Currencies from commodity-producing nations also won big as assets like palladium, copper, platinum and silver increased.

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What traders and investors discovered last year, and what will probably continue as we move into 2021, is that gold is an investment. It’s not necessarily a safe-haven asset like some brokers claim. Gold is competing for the same money that is going into bonds, stocks and higher-yielding currencies like the New Zealand and Australian Dollar.

With gold as an investment, you should search for where it has real value. Last year, it rallied at $1461.70 and stopped at $2099.20. By November 30, gold had lost 15.82% of its previous gains. Reaching a number of $1767.20, which was slightly under 50% of its total 2020 rally.

Now, starting 2021, investor response to 50% to 61.8% of 2020’s range at $1780.50 to $1705.20 will set the consensus for this year, at least on a technical level.

The fundamental data is even harder to understand if you keep up with the news. Covid deaths continue to increase and gold has gone nowhere, so I assume it’s ok to remove safe-haven buying as a reason to buy gold.

The dollar currently is trading at a 2-1/2 year low against other major currencies so it seems its connection to gold is skewed. Otherwise, its price would be rising this year.

Until cash starts to go back into gold, traders and investors will continue pushing investments like silver, stocks, other currencies and of course Bitcoin even higher. This is due to gold being too expensive in comparison, which ruins its appeal as an investment. Another negative is that it doesn’t pay a dividend or interest.

Gold will probably continue to be well-founded in 2021 due to the Fed’s stimulus policies, but it will suffer if it’s forced to compete with other assets. There will be a reset some point during the year. Investors will then transfer their money out of assets that have made huge gains. It’s then that gold will likely grow, but until that happens, we could be see a rangebound trade.

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