In our last update on BTC [see: Dec 5 Update] we noted that BTC had briefly dipped below our 46,000 target and was due for a backtest. I would expect a bounce up to backtest at least the black dashed line (51,766ish) or even the cloud bottom (54,850.) If those (now) resistance levels hold, then … continue reading →
Tag Archives: crypto
BTC reached our next downside target, a 17.2% drop from our short call on Nov 8, reiterated on Nov 9 and 10. Last, BTC is getting a very nice bounce this morning, perhaps on the notion that Elon’s $20 billion in TSLA sales might land in crypto. In any case, this is a very important … continue reading →
For months we’ve been warning about the coming inflation problem, wondering when the bond market would notice and/or care. The immediate problem in a nutshell: One of the most highly correlated components of CPI with the headline rate is the price of energy, and gasoline in particular. If prices were to remain where they are … continue reading →
Quick note: BTC backtested the top of the broken pink channel as detailed in our Jan 7 post [see: Jan 7 Update on BTC.] continued for members… … continue reading →
It seems like just yesterday BTC reached our last upside target range at 29,890-30,108. Actually, it was Monday [see: Jan 4 Update on Bitcoin.] If it can hold these Fibs, the next major Fib target to the upside is the blue 2.24 and red 3.618 at 40,180-40,138. Go figure. continued for members… … continue reading →
I’ve only posted about BTC once before, back on Mar 23 in response to a member request [see: FOMC Embraces MMT.] The Dow was about to test its 2016 election day lows and, not coincidentally, the Fed had just unleashed QEinfinity. The post went as follows: Two major chart patterns jump out at me: first, … continue reading →