More than a decade after the Great Financial Crisis, it seems that we are faced with the same questions as in 2008. Can the current financial system be relied on for much longer? Is our future in more high-tech solutions, more green energy, more consumption at all costs? Or do we need to, finally, start thinking about the Real Reset. Because a reset is coming, whether we like it or not… but it might be different than what most think it’s going to be.
Today we primarily look at the price action in cryptos and precious metals — silver, gold, palladium, and platinum. In this video update we try to evaluate whether cryptos could cause the precious metals to reach certain key price points. Since all markets are highly interconnected, we need to carefully consider the causalities among them.
It seems that after nearly completing its massive head and shoulders pattern, Bitcoin is now on the verge of a dramatic move lower. We are nowhere near capitulation as the prevailing sentiment in the crypto community is still that higher all-time highs are imminent. To change this persuasion, the price needs to move much lower. However, currently the price is at its last major support area… and traders should watch it very carefully.
Bitcoin seems to be completing its massive head and shoulders pattern. Our initial short position is well in the money and so we have decided to add to our short position at a key level because we expect Bitcoin to keep moving much lower in the near future. Our initial target is a retest of the high made during the previous Bitcoin mania in 2017.
In today’s video update we look at a couple of charts and ratios that will give us a better understanding of where might Bitcoin bottom out in its current bear market. Many Bitcoin investors and speculators seem to be quite complacent regarding this down move. We believe that they should definitely take the time to watch our video update as it will shed some light on where Bitcoin is headed. We don’t care where the price is headed… we just want to be on the correct side of the trade.
After shorting Bitcoin, we have also decided to go short Ethereum. Our order got filled and we are already looking at some healthy profits. In this video update we revisit some of the trades we’ve announced in last week’s market commentary. Today, we dive deeper into the logic of our trading system and why we believe that our trades will play out very favorably in the near future.