Bitcoin Potential Head and Shoulders Indicating Reversal?
Bitcoin is holding an important support/flip zone at around the 9000 zone. We still have lower highs and lower lows, but a break above this 10089 zone would nullify the recent lower high swing. Ideally, would look for a higher low to confirm the beginning of a new uptrend. This can occur here which would coincide with a head and shoulders pattern giving us more confluence for the trade. This is the ideal. Hope to see a pullback, creating a higher low, before moving higher.
At time of writing the Fed has cut by 25 basis points. If you read my previous works, central banks are out of options. Running out of tools. This is all about maintaining confidence now. Excuses such as low inflation is a way for them to maintain face and confidence while cutting rates. There will be a big crisis occurring, as I believe the Dollar will continue higher.
Gold does well in a confidence crisis...when people lose confidence in government, in central banks and the fiat money they run into Gold. Cryptocurrencies will also receive a bid in my opinion if we go down this path. It really is inevitable. The best case scenario is stagflation like Japan and Europe...but this may mean the US Dollar would lose reserve currency status.
At time of writing the Fed has cut by 25 basis points. If you read my previous works, central banks are out of options. Running out of tools. This is all about maintaining confidence now. Excuses such as low inflation is a way for them to maintain face and confidence while cutting rates. There will be a big crisis occurring, as I believe the Dollar will continue higher.
Gold does well in a confidence crisis...when people lose confidence in government, in central banks and the fiat money they run into Gold. Cryptocurrencies will also receive a bid in my opinion if we go down this path. It really is inevitable. The best case scenario is stagflation like Japan and Europe...but this may mean the US Dollar would lose reserve currency status.
