The announcement from Xi Jinping that was quoted in Crypto news sites on October 25th that China should "seize the opportunities of blockchain technology" caused one of the largest moves bitcoin has ever seen. Here we can see that the entire pump was still contained within the wider channel that has played out since the recent price peak of nearly $14,000 at the...
Gold bouncing off psychologial support at 1450 (dotted white line), making the bullish flag (yelow channel) much more viable. Full analysis in our blog, which will be out in about two hours at QuantumEconomics.io
Here we can see the recent history of the affects on stimulus. The yellow area shows the extended period in which the BoJ intentionally devalued the Yen in order to increase exports. Full analysis will be in our daily newsletter at quantumeconomics.io.
Further to yesterday's trading thought where we highlighted the H&S pattern. We did indeed get a strong break and are now retesting the neckline.
Past perforamnce is not an indication of future results however this is an extremely strong setup as far as TA goes.
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Bitcoin buy positions (blue line) are at their highest level since February, while bitcoin sell positions (orange) are near their lowest level ever. Full analysis will be in our daily newsletter at quantumeconomics.io, including fundamental and macro backdrop.
Most likely outcome seems to be a break to the downside leading to support at the 200 day moving average or around $1400 per ounce. Full analysis including fundamentals will be in my newsletter at quantumeconomics.io