All’s quiet on Crypton. Buttcoin is consolidating nicely, in preparation for the next squeeze to ignite a pop.
The bullish pattern remains in consolidation headed for cycle projections of 71,000 and 91,000 and a classical measured move target of 100,000.
While the supplies of certain brands of cryptonite are limited, the barriers to entry of new coins are low. There are constantly new coins coming. The supply of cryptonite coins is unlimited. Demand will not be unlimited. We’ll get to a point where the balance shifts, and that will be that.
We’re not there yet.
I wrote last week that I assume that BTC and the 10 Year Treasury Yield will break out around the same time. Although it seems that BTC leads by a few days or a couple of weeks. Suggests that some big people, very big people, the biggest, are using BTC to hedge their long Treasury net cash positions. On which they are getting slaughtered. Good for them they have many more toys in their toy boxes.
Not so good, Lord Jaysus is about to cut their allowance.
The measured move target on the 10 year would be 2.25. Won’t that be interesting. Here’s some background. It Only Takes One House Fire to Start a Conflagration
