“Looks like Homer has discovered crude oil & crypto!”
Peeking into 2020, I’m looking for WTI crude oil to trade between $53 - $55 on the
low side, and $63 - $66 on the high side, and about the only thing that’s gonna get
oil higher than that, is an actual closing of the “Straits of Hormuz” … and if that
were to happen, the sky's the limit baby! … crypto on the other hand is different
… in May of 2020, BTC gets “halved”, meaning miners [those who verify the
block chain transactions for the entire network] will start to receive half of what
they earned before, in verifying Bitcoin transactions in 250,000 transaction blocks
… in the past, within 6 months of a Bitcoin “halving” the price has exploded each
time … this time is also interesting from the perspective that for the first time,
Bitcoin inflation will go below official U.S. inflation figures … after this upcoming
“halving”, there’s only 1.6% Bitcoin inflation left in the entire system for miners
… bottom line is that most likely BTC explodes later this year.
Directly below, the 20 Day Range MA for WTI Crude Oil for the upcoming week.
Click on ANY chart to enlarge
Outside of the day it looked like the world was ending via Iran escalation, ranges
have been rather dull and listless … New York’s range still needs improvement.
Directly below, the crypto dollar pairs 20 Day Range MA’s for the upcoming week.
Well, do my eyes deceive me, or has the entire group gotten more active last
week? … about frickin’ time! … BTC still needs a bigger Range MA, IMHO … still
too expensive to trade given the range … same with the others as well.
Directly below, the BTC crosses 20 Day Range MA’s for the upcoming week.
Here as well, slight upticks in IVIX … they got a long way to go to see me
interested in any of ‘em … just too expensive to trade versus what you get for a
range … better trading opportunities elsewhere.
Onto the week … until tomorrow mi amigos … Onward & Upward!!
Have a great rest of your weekend everybody!
-vegas
No comments:
Post a Comment