Jump to content

BTC Is the Market Is the Economy 06/17/20

Recommended Posts

Check out this overlay of the hourly chart of BTC with the 24 hour ES S&P fugutures. 


Obviously, this doesn't show cause and effect. Some correlations do, but not this one. But it sure as hell shows correlation and concurrency. Most asset classes are moving in near lockstep as macro liquidity ebbs, with brief periods of remission, or in this case, remittance. Here in the early going on Friday, we're in one of those quiet, weak rebounds. 

At any rate, this correlation does not bode well for stocks, in view of the fact that BTC has a long term target of 5000 below zero. 


Meanwhile, at 6:30 AM in New York, stocks are rallying as the 3 day cycle has turned up. But it's not clear that the 5 day cycle is finished on the downside. For now, I'll assume that it has, because yesterday's low almost hit a 5 day cycle projection of 3640. But who knows what the junior traders will do in the last hours before the weekend. Take off their shorts before a dip, or dump their longs before heading for Jones Beach. 


The numbers to watch for a breakout either way on this chart are 3639 and 3730. Anything in between is noise. However,  dropping below 3674 would give bears the edge on a breakdown this afternoon. 

Meanwhile, the 10 year yield has pulled back just enough this morning that it is no longer a long term base breakout. 3.261 looks like the magic number. Stay below that, no breakout. Above that, todamoon. Here's the weekly view. 


To really understand what's going on there, what lies ahead, what it means for the stock market, and what to do about it to make money from it, or at least preserve what you have left, join me at Liquidity Trader

All of the above is presented to you for free. Remember, you get what you pay for! If you really want to know what's going on, then join me at Liquidity Trader. Check out the links below for extended intros. 

If you're serious about the underlying forces of supply and demand that drive the markets, join me

If you are a new visitor to the Stool, please register and join in! To post your observations and charts, and snide, but good-natured, comments, click here to register. Be sure to respond to the confirmation email which is sent instantly. If not in your inbox, check your spam filter. 

Link to comment
Share on other sites

  • Replies 14
  • Created
  • Last Reply


Thy name is FED.

A dark and hungy god arises.

The Wealth Transfer Vehicles are being sacrificed upon the alter of reality.

The FED can no longer hold the center.

All is in disarray.

Debt destruction slouches towards....wherever......

Is it any co-incidence all the WTV's and Ponzi's grew and flourished under the FEDs interest rate suppression policies.

No co-incidence at all.

Link to comment
Share on other sites

Bitcoin's 1 Year Cycle Projection Drops to 1500

Last week, before the Saturday Night Slaughter, BTC's one year cycle projection was 12,000.  Now it's 1500. Here's how it looks on a linear scale chart. As you can see, there's trend sport around 17,000-16,500 Sunday and Monday. If that breaks, then the next semi-likely sport line and bounce point would be from around 14k. 


This does not surprise us because the conventional measured move target of the top breakdown has always been 5000 below zero. 

Here again is a linear scale view of the long term. This chart suggests that the next sport level is around 13,000. 


I'll be posting an update of the technical stock market outlook at Liquidity Trader a bit later today. Stay tuned for that. 

Link to comment
Share on other sites


This topic is now archived and is closed to further replies.

  • Tell a friend

    Love Stool Pigeons Wire Message Board? Tell a friend!
  • Recently Browsing   0 members

    • No registered users viewing this page.
  • ×
    • Create New...