There’s war in Europe. The assets of Russian oligarchs are being seized by Western governments.
Buttcoin does this. The 3 month downtrend is broken, and short term cycle oscillators are in as bullish a pattern as there is.
So what is Buttcoin good for. The same thing, and the only thing it’s useful for. Criminal money laundering.
And in today’s world, that can take it a long way.
The first target here is 46-47,000, and if it breaks out, the base pattern would yield a measured move price target of 57-58,000.
Now they’re buying bitcoin, but no doubt they’ll want to move it into something they can spend and store that looks legit. They will then use shell companies to invest the laundered money in safe assets.
BOOM. Rally in US Treasuries. I did not see this coming. War and massive sanctions on Russian oligarchs, as well as a non zero chance threat of nuclear was was not an eventuality that I had in my forecast. Sorry about that folks.
Now the issue is that now we have this, where is it going. Well if it breaks 1.70, the measured move target would be 1.35. Trend support is around 1.50-.55.
Liquidity With Eyes Glued to Ukraine
Beyond this rally, the next question is whether this is sustainable in the long run. My answer would still be no… until further notice. Depends on whether Putin lets fly with the nukes, and to some extent whether he gets away with strangling Ukraine.
Untangling the threads to discern a likely longer term outlook will require careful observation and thought over a period of weeks, in not months.
Although, we may not have that long.
Finally, what happens when money from overseas seeks to buy US assets? First they must buy dollars. That’s happening too.
The EUR/USD is on the verge of another breakdown. If it happens, the measured move target would be 109.50. That’s also a short term cycle projection. Longer term a one year cycle projection points to 107.
So I think I’ll hold off on moving my US doodahs over here to France to the last minute, to buy that apartment I’m looking for.
Gold Breakout Points To More, Miners Swing Picks Look Good
Meanwhile, the big picture:
Liquidity With Eyes Glued to Ukraine
Gold Breakout Points To More, Miners Swing Picks Look Good
This is a syndicated post, which originally appeared at Stool Pigeons Wire at Capitalstool.com. View original post. 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.
