Bitcoin: Looks like the major target is coming after all

Bitcoin is dropping toward the major support target My “I won’t speculate in Bitcoin (BITO) until…” point is the 10,000 to 12000 range (preferably with ole’ Tommy boy having removed those stupid lasers from his eyes), per NFTRH’s routine updates in the Currencies segment. But recently, per this weekly chart I’ve thought that it had a good chance to bounce from lesser support. Well, instead … Continue reading Bitcoin: Looks like the major target is coming after all

Useless know-nothing gets slap on wrist for crypto pumping

Kim Kardashian bagged by SEC as a crypto scammer, slapped on wrist To me it’s disgusting that people even care what this self promoting idiot does, says or supposedly invests in. But boy that crypto space – getting the punishment it deserves – was/is infested with some of the worst humans on the planet. Clicking the graphic yields the article (which I have not and … Continue reading Useless know-nothing gets slap on wrist for crypto pumping

bitcoin

Bitcoin: Support here or lower?

Support #1 for Bitcoin has been hit, but #2 is well lower My preferred no-brainer target – per NFTRH’s Currencies segment – has been 12,500 as we’ve been noting for most of 2022. But Bitcoin (BTCUSD) did touch the December 2017 high, which can also be considered viable support. That is a lot of damage done to the Bitcoin promoters and especially their herds. I … Continue reading Bitcoin: Support here or lower?

Gold vs. Bitcoin

The monetary metal has changed trend vs. monetary digits The future of money will have to wait before the new digital munny is ready to take over safe haven ‘liquidity’ status from the old metallic monetary relic. Where the former has the laser-eyed likes of know-nothings Tom Brady and Paris Hilton among its promoters, gold only has history; long, boring, staid, tepid history (oh yeah, … Continue reading Gold vs. Bitcoin

Currencies (incl. Bitcoin) vs. USD

Global currencies and Bitcoin vs. USD Reference a previous post on ‘commodity currencies‘ From NFTRH 705‘s Currencies segment… Everybody in this sad picture is as they were last week. The reserve currency is sucking up all that liquidity fleeing the risk ‘on’, inflated cyclical asset world and the other ‘non-reserve’ currencies are being exposed as the fundamentally valueless instruments they are. Of course USD is … Continue reading Currencies (incl. Bitcoin) vs. USD

Bitcoin: Acting like the speculation it is

As USD and Gold rise, Bitcoin acts like the speculation that it is The US dollar is roofing… Gold is also getting the global liquidity bid. And then there is BTCUSD, acting like a speculation along with all the other speculations the world over. Where’s Tom Brady and what’s her name, the hotel heiress come crypto big mouth when you need them? For “best of … Continue reading Bitcoin: Acting like the speculation it is

So MSFM, how’s that Bitcoin Golden Cross working out? w/ Bonus chart of HUI

Mainstream financial media bullhorned a golden cross in Bitcoin just before it dropped (of course they did) On September 16th the MSFM touted a Golden Cross for Bitcoin bulls to suck on and I, considering it almost my duty, made fun of them for it. Same shit, different day (and market). It never ends. Oh, and in order to read all about it, you’d have … Continue reading So MSFM, how’s that Bitcoin Golden Cross working out? w/ Bonus chart of HUI

Hard test for Bitcoin

BTC/USD is making a fairly dramatic test of the 50 and 200 day moving averages Thus far the test sees the Bitcoin price intact, technically. Just avert eyes from daily RSI and MACD (and instead train them on a weekly chart for a somewhat more pleasant view). For “best of breed” top down analysis of all major markets, subscribe to NFTRH Premium, which includes an … Continue reading Hard test for Bitcoin

Bitcoin eases back toward the neckline, Gold rising in BTC terms since April

The more times support is tested, the weaker (they say) it becomes… BTCUSD is thus far locked below the down-trending SMA 50 and the neckline of the first bearish pattern we tracked in late winter and early spring. The daily chart is gently fading and may have another test of the green neckline upcoming. Should that fail the next support is the 2017 high, with … Continue reading Bitcoin eases back toward the neckline, Gold rising in BTC terms since April

Bitcoin H&S now active, for the moment at least…

The would-be Head & Shoulders top and its “sub-zero” theoretical implication for Bitcoin are active as the price ticks below the neckline The daily chart of BTC/USD is creeping below the neckline today. If that holds (it’s probably an at least temporary fake out) then the drive to sub-zero is on (going strictly by technical measurement, if not reality). What a potential disaster this could … Continue reading Bitcoin H&S now active, for the moment at least…

A Bitcoin disaster scenario [w/ edit]

Bitcoin down another 10% today after failing to take out resistance [edit] An NFTRH subscriber emailed to ask if I’d made a mistake with the measurement. The answer is yes, but not in measuring to 20,000 as he thought might be the case. It’s worse. My response… Actually no David, I did not make that mistake. But I did make another. The doomsday scenario (and … Continue reading A Bitcoin disaster scenario [w/ edit]

Checking up on 2 stocks bought on BTC crash day

As BTC/USD crashed, taking Tommy and all the other stupid flashing eyeballs with it… …I added two items, RIOT and GBTC as a speculation during the running of the Bit Bugs (a similar phenomenon to the occasional and often glorious running of the Gold Bugs). It’s just a speculation, just a trade unless of course I change my mind. Smart Bit Bug traders will know … Continue reading Checking up on 2 stocks bought on BTC crash day