Step back and look at the bigger picture. Understand the spirit of Bitcoin in the bigger picture. All the pieces point to Bitcoin pushing up and leaving this bull flag in the weeds.
This picture is born amid the great monetary experiment of QE (this is not an experiment - Modern Monetary Theory is a joke). The birth of the experiment took place in 1971 just a few years after we put a man on the moon. The experiment took new meaning brought about by supposedly smart, well educated, well dressed individuals who worked for a major insurance (AIG) company. They decided to put on their pork belly trading smocks and throw caution to the wind by selling credit default swaps like they were CBD gummy bears in a room full of anxious people. The experiment took on momentum as the world's central banks decided fully back this insanity and using Lehman Bros as the up front and center scape goat. The insanity has continued with the world's major economies engaging in debt to GDP that would make your grandparents or for most of you your great grandparents squirm in their chairs. The world's central banks have played along with QE at levels that will leave our great grandchildren mocking our insanity.
The timeliness of the German Yield Curve going full on negative rates all the way out 30 years combined with the inability so far to not set back to the 3D 50 MA (like in 2017) after the recent highs at 13,800 should not be ignored. This bull flag is about to get popped and with good reason. There is something very wrong in the world of monetary policy. There is something very wrong with the German yield curve at negative rates out 30 years. There is something wrong with US equities looking like they want to engage in a 1929 type rally.
Bitcoin knows this. Bitcoin is on the precipice of making a statement. Bitcoin is about to affirm to the world as to why it was born. Sure, the 4 hour is now overbought and so is the daily. Think you can sell it here and increase your holding by buying back at 8600? Have at it. I will pass on this one and head the 3D Golden Cross.
This picture is born amid the great monetary experiment of QE (this is not an experiment - Modern Monetary Theory is a joke). The birth of the experiment took place in 1971 just a few years after we put a man on the moon. The experiment took new meaning brought about by supposedly smart, well educated, well dressed individuals who worked for a major insurance (AIG) company. They decided to put on their pork belly trading smocks and throw caution to the wind by selling credit default swaps like they were CBD gummy bears in a room full of anxious people. The experiment took on momentum as the world's central banks decided fully back this insanity and using Lehman Bros as the up front and center scape goat. The insanity has continued with the world's major economies engaging in debt to GDP that would make your grandparents or for most of you your great grandparents squirm in their chairs. The world's central banks have played along with QE at levels that will leave our great grandchildren mocking our insanity.
The timeliness of the German Yield Curve going full on negative rates all the way out 30 years combined with the inability so far to not set back to the 3D 50 MA (like in 2017) after the recent highs at 13,800 should not be ignored. This bull flag is about to get popped and with good reason. There is something very wrong in the world of monetary policy. There is something very wrong with the German yield curve at negative rates out 30 years. There is something wrong with US equities looking like they want to engage in a 1929 type rally.
Bitcoin knows this. Bitcoin is on the precipice of making a statement. Bitcoin is about to affirm to the world as to why it was born. Sure, the 4 hour is now overbought and so is the daily. Think you can sell it here and increase your holding by buying back at 8600? Have at it. I will pass on this one and head the 3D Golden Cross.