May 18, 2021

Market Update 5/17 – BTCUSD and Tulips

The Dutch Tulip bubble also occurred during a pandemic. One popular narrative for tulip price behavior blames excitable Dutch merchants who had nothing better to do than sit around in taverns bidding up the price of exotic flowers (global trade was effectively in “lockdown” then)…sound familiar? BTCUSD closed right at the noted 44000 level today. Big spot! I lean towards the downside following completion of the massive top that has been forming since February. The next downside level of interest is 32000 (or so).
May 7, 2021

Market Update 5/6 – USDOLLAR NFP Reversal Warning

A print under 11745 in USDOLLAR will complete 3 waves down from the 5/3 high and give way to another leg up…at least that’s what I’m thinking. Reminder, NFP is tomorrow!
OPEN ACCOUNT