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I called a possible swing low on cryptos on 5th July, and that’s been progressing as expected so far, and BTCUSD (Bitcoin) is getting close to bull flag resistance.
Bear flag resistance on Bitcoin is in the 70,600 area, and that is now getting close. If that breaks then the flag target will be a retest of the all time high at 73.8k. If Bitcoin continues to stay close to the daily upper band, then that should be hitting bull flag resistance by Wednesday.
BTCUSD daily chart:
Let’s keep an eye on bonds (and, by way of extension, interest rates). The rally in bonds seems to be petering out.
Just a quick follow-up to my Out in the Cold post, which suggested natural gas was about to rally: so far, so good! Here the leveraged bullish instrument is rallying mightily this morning.
I’m not sure if I’ve ever shared this before, but this one-hour interview is absolutely captivating. Here, our patron saint George Carlin lets us enter his mind and his life. He truly lived life authentically, and I admire him greatly for it. He’s a true American hero.
