readtheticker blogger: July 2019

Thursday 25 July 2019

Bitcoin Wyckoff Accumulation Pattern

Many see a US recession in the first half of the 2020 decade. The first half of many previous decades suffered a recession, it is normal. But this time it may be different, well kinda different bad!

A reminder of US recessions in a first half of a decade: 1953, 1961, 1970-73, 1980-82, 1991, 2001-2002

Of course the 2007 to 2009 GFC was just short of a new decade. Yet the reader can see the trend of recessions in the first half of a decade is established, and not unusual.

Recession indicators are all over the web.

US Recession

Yes, there is another one coming. The US and German 10 year interest rates signal this very clearly.

A recession is a lit match of asset price deflation, but what it will set fire to has yet to determined.

Possible names for the crisis lit by a recession in early 20XX ?

- Corporate Bond Debt Crisis of 20XX

- US Pension Crisis of 20XX

- The Great China Debt Implosion of 20XX

- We are all European Now. The world of negative interest rates.

- The Great Sovereign Bond Crisis of 20XX

- The Passive Investing Crash of 20XX

- The Great Liquidity Crisis of 20XX

- The Leverage Loan Crash of 20XX

[Or all of the above]

We know from the recent crisis of 2008 these things can happen:

- change in accounting rules

- printing money

- debase of currency

- create bad banks

- freeze bank accounts

- execute bank bail ins

- spreads explode

- fund redemption freeze

- bank holidays

- the world plunges further into a negative interest debt mess

- On and on!

On a US (or World) recession, Bitcoin (and its sister Litecoin) will attract scared money, and it will not take a lot of scared money to get bitcoin to double from current levels. Of course if bitcoin attracts scared money so will silver, gold and the US dollar.

Here are some price charts showing bitcoins current situation.

Accumulation looks good so far.

Wyckoff Bitcoin

Is it crazy for a single bitcoin to be worth $40,000+ USD, that depends, consider this, Jason Pollock No 16 sold for $32M (Nov 12 2016). Perceptions change. If the market decides, the market decides.

Pollock Jason No 16

Price working through parallel channels

BTC Channel

Major Channels View: Green aggressive. Red moderate.

BTC channel parallel

Bitcoin is here to stay.

Litecoin Log Chart, Parallel Charts supporting price action

LTC channels

Original Post: https://ift.tt/2SDWhck

Thursday 18 July 2019

RTT Plus Chart Book (Sneak Peak)

The magic of support and resistance channel lines and how they direct price.

Here are some chart disclosed to members via the RTT Plus service. All charts are a few weeks old.

XAU bound by parallel channel lines.

HUI Index

Newmont Mining support from Gann Angles.

NEM gann

US Dollar index (DXY) dominate cycle (RTTHurstCycles) with a customary momentum tool.

DXY

Here is an interesting chart, Dow Jones 1925 to 1943 with the performance of gold. Of course a gold standard existed back then, and not a debt standard as we have today, gold may do much better during a extended debt crisis.

Dow and Gold

Original Post: https://ift.tt/2O3Nj9T

Wednesday 10 July 2019

Gold Gann Angle Update

Charts show us the golden brick road to high prices.

GLD Gann Angle has been working since 2016. Higher prices are expected. Who would say anything different, and why and how?

Gold Gann

The GLD very wide channel shows us the way.
- Conservative: Tag the 10 year rally starting in 2001 to 2019 and it forecasts $750 GLD (or $7500 USD Gold Futures) in 10 years.
- Aggressive: Tag the 5 year rally starting in 1976 to 2019 and it forecasts $750 GLD (or $7500 USD Gold Futures) in 5 years.

Gold Channel