GVI 11:59 / Thanks for the blast from the past
with the link to ol’ clinton’s fun meeting bond vigilantes
not only a fun time reading the story BUT
also a lesson about a Known Unknown ie the timing (the when) of market panic
NEW YORK/LONDON (Reuters) – When Bill Clinton began his first term as president in 1993, he faced a challenge to his authority from an unexpected adversary: bond traders. Low taxes and high defense spending over the prior decade had contributed to U.S. debt doubling as a share of economic output.
Resistance 100.850.00 & 102.750.00 – have to be taken or more consolidation will be needed.
89K should hold, but even if lost at one point there is always 80K area for Coin to be picked up.
Right now – the pattern that is unfolding is not looking good for immediate BTC advance , but taking into account Trump Inauguration and all who knows….
As I stated two days ago that attack at 2.73 is coming – today’s high so far at 2.69664 is a living proof. If it manages to breach it tomorrow, 3.0 will be next.
So this one was easy for me – pattern was clear, signal was activated…
But what next ?
This is very Bullish, but to profit out of it XRP needs to stay above 3.15 and if so Target is at 4.40
Do not expect the trend to change suddenly – go with the flow.
Similar to US500, NAS100 failing to get a boost from lower US bond yields has caught my ete… let’s call it consolidation where only a break of 20600-700 would pour the low at risk again..….
What caught mt eye is the failure to benefit from lower US bond yields today…now dependent on 5900-05 holding to keep the bid…even if broken, only below 5790-5827 would put the low at risk.
Came within a whisker of testing my log held target at 2725… as noted, a break would leave only 2750 guarding the record 2781 high… if not, then dependent on 2690-97 holding to keep the bid