rabbits
rabbits 2 minutes reading from Bitcoin

Global Economic Outlook: Booms Are Here Again

btc after another -10% rejection over last 2weekly candles (we were going to 21-23k again remember). wouldn't surprise me to see bounce back to 19.3/19.5k where clout collectoors will be at it again, before we slowly bleed back down & finally take out lows at 17.6k

why? coz there's no-one fkin here, its the saloon in westworld, there's like 2humans & a hundred robots. the idea that exchange inventory, willing/forced btc hodlers & trite sentiment indicators have coalesced to form some sort of credible bottom here from which to leg up, jfc

in the face of a once in a multi-generational event that regardless of how forward-facing markets are, is nowhere near finished playing out. imho we re-trace the entire covid move, across the board & forgetting any ltf reaction bounces, that we stay down there, for long time

the fed couldn't have been more explicit in it's words/actions & any hopium addicted pivotoors (mid-terms soon lads, meant to have all been done & dusted by now according to you) are daily further discredited. central banks may well step in as lender of last resort to maintain

orderly markets but as with BOE this week, they will be stepping the fck back out again. the era of widespread QE is over, as is the era of inflated asset valuations, prepare for a continued orderly sell-off imho. spx to 3000 & stay there, no V reversal..

This post is based on this twitter thread.

Comments

Please login to comment.