First posted at Capitalstool. Join the fun.
The BTC boys have given up the ghost today. The ghost of a rally that is. They couldn’t even get back to trend resistance at 22,000, let along clear it. Now they’re threatening to break that critical sport level at 19k. But the big one is 17,600. If that gives way, Crash City, Babeeeeee!
We’re now looking at a one year cycle projection of 9-12k.
And the immutable long term conventional measured move target of 5000 below zero.
Looking at bond yields, the 10 year has a projection of 3.26 on the hourly chart. For more on the big picture, see Recession? What Recession?
