You may know me as the…(more…)
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.
Safe haven indeed. Two thousand dollar plunge in a span of minutes. And you just know someone bought into Bitcoin for the first time earlier today, when they just couldn’t stand the Fear Of Missing Out any longer.
If you have followed us since December 2018, then you know we were expecting a major bottom in the cryptocurrency market, and expecting 2019 to be very bullish. In February we wrote an article suggesting an imminent wave two bottom, which proved correct, holding support by $10 on some exchanges.
We suggested then that a third wave would commence, thrusting Bitcoin prices much higher. The only part we got wrong was that our targets were exceeded in the third wave. That happens in strong bull markets. So in May we updated our target for Bitcoin to exceed $10,000 before it completed this rally. But we were 100% right about a bullish 2019 so far.(more…)
I did a post suggesting Bitcoin as a buy when it was about $3800. A few weeks ago, I suggested the price may have peaked due to it hitting a Fibonacci retracement. Well, the “animal spirits” unleashed the past month have been felt most strongly with crypto, and it blew right past it……..to the NEXT Fibonacci level! So I’d like to suggest, once again, maybe we’re peaking. I wouldn’t dare short it, but I think we won’t get past $11,500 or so.(more…)
First of all, Happy Summer Solstice to everyone. As a person who has to walk large dogs in the morning before the squirrels wake up, I am glad to know that from here on out, days will be getting shorter. These 5 a.m. wake-ups get old after a while.
I was glad to see the one and only equity I actually want to go up in value is continuing to do so. Our buddy Qudian continues to behave itself.(more…)
Back in 2010 and 2011, the market was all about the Euro. It was all anybody talked about. We hung on to every pip. Since then, it had sort of faded from the scene, and I stopped bothering looking at EUR/USD altogether.
That all changed this morning, now that Mario Draghi has once again thrown open the Stimulation Spigot, since it’s quite apparent that the debt-addicted world is incapable of absolutely any organic growth, so they’re just going to just keep…………stimulating. You can see how the currency war has been affected our own U.S. dollar, portrayed here versus the Japanese Yen.(more…)
One of the great ironies of my charting recently has been my most sensational calls have been about something I’ve never traded in my life: cryptocurrencies. Maybe the objectivity of non-involvement helps.
In any case, back in March I made a bullish call on crypto, and they went up about 200% in the course of a couple of months. I’d like to suggest now, based on Fibonacci Retracement, that we’ve peaked. This is influenced, I confess, by my belief that cryptos have a very “niche” market in the future, and people seem to be under the delusion that buying cryptocurrencies is akin to investing in crypto-related corporate stock, which it isn’t.