15/10/2018/13:50CET
Time to watch the clock! The NYSE will open in just over 1h. How will the markets move out of the gate? This will be pivotal for BTC and crytpos in the next hours.
BTC hourly
Spike retraced but price is holding at just under 7k - still an enormous rally by anyone's standard with volumes at about 5x normal daily levels and we are only half way through the day!!
Other hourly charts
ETHUSD
ADAUSD
EOSUSD
LTCUSD
XRPUSD
XRMUSD
Everyone is showing the same behaviour. These few coins are showing the overall trend in the crypto market at the moment. Most everyone is up 7-10%
Is this cryptos being bid as safe haven vis a vis Traditional markets?
Traditional markets
Traditional markets are on the edge of a precipice and we will see in about 1-2 hours how the mood has developed over the weekend.
Daily charts...
DJI
S&P500
NASDAQ
NIKKEI
SMI (Swiss)
EURO STOXX 50
DAX (Germany)
I think these charts tell the same story, just that the US markets have not yet caught up with global negative sentiment.
And now the safe havens
GLD (Paper gold)
Gold (the real thing)
Silver
Platinum
Is this it! is this the unraveling getting started?
We contrarians have been scratching our heads for some time now wondering how long this whole house of fictional cards can go on for. For so long now the populace has been fed the narrative of growth and good times but not many of us felt we were part of the party. We wondered if we were doing something personally wrong to be missing this train!
But those of us that were no happy with the answers from the MSM and talking heads and looked far and wide for a more balanced view of the world, could not ignore some of the absolutely astounding distortions in the background.
Things like debt levels and interest rates as mandated by central banks were just,... WRONG.
All these indicators pointed to some kind of "moment of reckoning"
So I guess it is time to get out the popcorn to watch if the fireworks has finally started.
All schadenfreude aside, I see that either this is it, we continue to fall off a cliff, either right off and free fall, or we stumble down ledge by ledge with all support under the markets crumbling anytime there is a pause in the selling.
Or...
The powers that be, try yet again to print our way out of trouble. I think they will try. The have to , they must, it is too easy to try and with nothing much left to lose. It is all dependant on if there is enough trust left in currencies and central authorities to have this solution fly again, ala 2000 and 2009.
Could they blow yet another bubble? I don't know.... Hmmm, But I fear we're going to find out anyway!
As always guys, leave comments, have fun and trade safe.