Bitcoin Shows Signs of Distribution as Price Approaches $7,000

Bitcoin Shows Signs of Distribution as Price Approaches $7,000

Well, I previously said the new COVID-19 reality was a trading range between $3,000 and $6,000 USD. That analysis has summarily been disproven, as price has broken above resistance at $6,031, and is now testing resistance near $7,000 USD. The daily chart above shows the current candle showing some indecision, as illustrated by its fairly …

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US Dollar Shortage Makes EURUSD at .8500 Much Closer Than You Think

US Dollar Shortage Makes EURUSD at .8500 Much Closer Than You Think

There is a major support level at 1.05, and a lesser support level at .95. Those are the only two barriers from a price action perspective on the monthly chart standing between here and .85. It is also worth noting that we have been in a pattern of lower highs since the 2008 financial crisis, so the momentum to .85 has been building for some time.

New Reality for Bitcoin Hodlers is a Trading Range of $3500 – $6000

New Reality for Bitcoin Hodlers is a Trading Range of $3500 – $6000

It may seem obvious to many, but for those finding themselves overweighted in a given asset class after the massive market reset last week as a result of COVID-19, the truth can be very hard to take in. As such, it is worth repeating: we are in a new world now, and the sooner traders …

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Are the Maximalists Wrong? Bitcoin’s Dominance Has Been Trending Down For the Past Six Months

Are the Maximalists Wrong? Bitcoin’s Dominance Has Been Trending Down For the Past Six Months

In fact, for the past two and a half months (since December 14 of 2019), Bitcoin’s price and dominance have been strongly inversely correlated: a 95% confidence interval puts correlation between -.92 and -.81, which is nothing short of stunning; it basically reveals that an increase in Bitcoin’s price is almost certainly accompanied by a decrease in its dominance level.

The Case For A Long-Term Buy of Gold at $1,380 USD

The Case For A Long-Term Buy of Gold at $1,380 USD

In this piece we’ll explore a case that has long been made by many repeatedly over the past decade, in spite of questionable success: dollar weakishness relative to gold. Are the gold bulls right about what’s to come? Let’s take a look at the strongest case for gold bullish argument, based on the technicals and …

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