Is Bitcoin Poised for Another Big Rally Leg?

Also, this should be a KEY week for the small cap

• After working off its overbought condition, bitcoin is testing its July all-time. We don’t want to jump the gun…as push to a meaningful “higher-high” might take a little while…but this set-up is a very bullish one.

• We called for Ethereum to outperform back in June…and that is exactly what has taken place (in a big way). It’s starting to get overbought on a near-term basis, so we need to be a little bit more careful over the near-term. That said, we still expect it to do quite well over the intermediate-term.

• The small-cap Russell 2000 Index stands at a key juncture. How it reacts to this week’s economic data (especially later in the week) should be quite important as to how it acts over the rest of the year.