Crypto’s massive rally in the last 24 hours hit a 10% gain. But it doesn’t look so huge on the chart. It’s just a function of the illiquidity of these “markets” in imaginary money.
I still see lower cycle projections on BTC. They’re moving around a lot, but they’re still pointing materially lower as the cryptos all trend inevitably in the direction of zero. That’s a given because the supply of cryptocurrencies is increasing daily, and is, in fact, unlimited. Demand, however, is limited.
When this gigantic head and shoulders pattern breaks down, the measured move target will be -7000. That’s negative 7000.
Meanwhile, gold is going the other way. Its supply is limited.
You can hold it in your hands.
And it’s shiny.
