We are in the century of Asia. Whereas the 1600s-early 1800s were a time for Western Europe and early 1800s-2000 belonged to the U.S., the future will belong to Asia. The Chinese stock market is preparing for the next massive advance to reflect this.
Ripple Labs, the corporate name behind XRP, remains a holder of approximately 40 BILLION XRPs. It is obviously in the interest in Ripple to support XRP's price. Yet, XRP is not a legitimate crypto coin in the opinion of this author. In fact, XRP is a get-rich scam (IMO) of its creators. In recent years the value narrative of XRP has changed more than once. When...
The general rule is that a symmetrical triangle must breakout prior to reaching 70% of the distance to the apex, otherwise the coil begins to lose its power. The BTC/GC1 coil is now at the 70% mark. If this coil is going to resolve itself by an upside advance, the move must begin by the end of Jun.
Those that have followed me on Trading View know I have been waiting for a rally to retest the 10000 to 10600 zone. This zone should be the killing field (with FOMO buyers as the target in the range finder). Now we need to find signs of topping. The Nifty has a chance to go to 6,000 if the crazy Central Bankers of the world would stop the printing presses.
This is not exactly the definition of a turbo thrust. Using the spindles (which normally I do not prefer), the advance is taking the form of a rising wedge. The rising wedge is typically found as a bear market correction. But, hey, these are only lines so they mean nothing.
If there were ever a set of global macro fundamentals to drive BTC price higher, it is now, with COVID-19 shutting down business, a bear market in global equities and massive QE-infinity by the U.S. Fed.
Yet, BTC is struggling to correct its March price decline, and the correction is now poised to roll over to the downside.
When will BTC bulls acknowledge that...
Hope that the Nifty 50 rallies to 10,000 to 11,000 for an opportunity to go short at the SGX.
Watch what I had to say yesterday to Indian financial media
Then, check out the Factor Service at www.peterlbrandt.com
I have been mercilessly criticized for many months for my bearish view of the Nifty. The decline did not occur exactly how I thought (it was delayed by several months), but the decline from the right angled broadening triangle and violated parabola did occur.
As a chartist with 45-years of experience, I have found that spindles create more confusion than they clarify. Boundary and trendlines, IMO, should be drawn in a way that most accounts for the support and resistance in a chart construction. Accordingly, BTC is bumping up against significant channel resistance on a daily chart. This boundary line has turned prices...