The Fibonaccis have had almost mystical power over this “asset”. I wouldn’t be surprised if bitcoin never sees quintuple-digits again.
Bitcoin=Doomed
Slope of Hope Blog Posts
Slope initially began as a blog, so this is where most of the website’s content resides. Here we have tens of thousands of posts dating back over a decade. These are listed in reverse chronological order. Click on any category icon below to see posts tagged with that particular subject, or click on a word in the category cloud on the right side of the screen for more specific choices.
Yuan Valdez
We haven’t looked at the US dollar relationship with the Chinese Yuan in a while. As I mentioned during the trade war (remember that?), the stronger this cross-rate is, the weaker our equities will be, and vice versa. This thing peaked on September 3rd and has been trending lower ever since then (thus, equities have been strong). It’s a relationship that merits monitoring.
Bitcoin Bonanza
For someone who has never trade a crypto in his life, I sure do blather on about it. But I’ve got to say, I remain slack-jawed with amazement at the behavior of Bitcoin vis a vis its Fibonacci levels. I’ve mentioned repeatedly the major level at about $7200. Well, not only did that provide support, but it did so with an explosive, eye-popping move to the upside:
FOREX Follies
We haven’t looked at a currency cross-rates in a while, and I think it’s particularly germane in this gee-what-will-the-trade-war-do environment we’re stuck inside. Anyway, it seems to me the Chinese currency is going to continue to be quite weak about its centuries-old enemy of Japan:
Fake Fiat Fibonacci
It’s a quiet Sunday afternoon, as we all anticipate Monday, the final trading day of this quarter. I thought I’d just share a few words about this interesting creature (Bitcoin, not Altucher):
Silver/Gold Ratio is a Guide as Inflation Signals Fade Again
The interplay between gold and silver is a critical component to understanding what is out ahead; to understanding whether long-term Treasury yields will rise and if they rise, whether it will be due to inflationary pressures. It is a critical component to understanding whether cyclical commodities and other aspects of a greater inflation/reflation trade will finally break existing downtrends. See…
(more…)Crypto Wipeout Resumes
I haven’t kept a secret of my view that, should the Bitcoin Fibonacci support be breached, we were heading back toward the $7,000s. Indeed, I mentioned it just yesterday on my tastytrade show. And here we are!
