Bitcoin Is Getting Somewhat Overbought...But Does It Matter?

• The euphoria that erupted in several asset classes last week seems to be continuing as we enter the new week.  Several different issues could keep this going for many weeks.  That said, the Middle East is still something that could throw a major wrench into the bullish argument for the markets.

• The breakout in Bitcoin has been dramatic.  We DO need to point out that it’s getting overbought.  HOWEVER, it has also become much more overbought before it has topped out several times in the past.  Therefore, it looks like it could run quite a bit more over the near-term.