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Even though I haven’t touched crypto since 2021, I remained stunned at what a chart-friendly creature it is. Most recently, I called for the rapid ascent in BTC to poop out at the Fibonnacci level. Take note what a good job the Fibs did for both support (green tint) and resistance (magenta tint). The recent “repulsion‘ was particularly incredible, with an accuracy of 100.003%.
I ran a poll on Twitter today. I must say, I concur:
You’ve had your fun. You’re done.
Forget First Republic, and Credit Suisse, and Silicon Valley Bank, and all the other completely trashed and utterly mismanaged financial institutions cluttering the headlines. Bank of America is what counts, and to my eyes, it looks like it’s in for a bad 2023.
What a fall from grace (such as it was). I guess ol’ scum-butt isn’t going to be the world’s first trillionaire. He’ll have to settle for a really good white collar criminal.
