Silver versus BLX (Bitcoin)

The Technical Analysis

• The Price action & MACD both on log chart
  
• RSI had a technical double bottom and price action set a higher low
  
• MACD moving upward upward
  
• Triangle due to break out
  
• RSI very likely to swing to oversold based on history
  

Fundamental Analysis

• Yield curve inversion
  
• Greenspan says NO BARRIER to treasury yields going negative
  
• SPX only up 5.3% in two years
  
• SPX in a broadening channel, see linked post
  
• Foreign indexes set lower highs already
  
• Trade war
  
• Brexit
  
• Hong Kong
  
• US Farmers at highest rate of default in 20 years
  
• Baltic Dry index setting highs after over 5 years
  
• you can put silver in a sock and beat some to death with it, but can't do that with bitcoin
  

Imma go big back into crypto when I see the inverse of this chart. But right now precious metals are back on the menu.

Commentaire:

If you follow me but not my silver/bitcoin post I highly recommend you follow this post, just so you can hit the play button with me once a week or month.