Now the bear channel on the day chart is getting clearer and longer. How long will it get? There is a nice support at 71k.
$75k (went a little lower) looks to be a good buy entry I'm thinking of gambling on long btc via perpetual futures
There is a probable cause for the bulls in this $70K region. SHOW US WHAT YOU GOT. I am not expecting much, but willing to give you a chance. If it does survive; the next time we come here - you are dead. If it's not too late already. It's not a question of IF this ponzi will break but WHEN. And we are running on borrowed time here. Like i predicted; the first time there is a struggle in macro environment; the ponzi will crumble. So perhaps the question is whether does the stock market find some relief here or is it all over.
The worst thing for USA that could have happened, happened. China called their bluff and knocked their ass out. At this point, China isn't even talking about 'negotiations'.
Can't disagree. What could be worse though is if China retaliates by seizing /blocking Taiwan. That would be a true black swan event and it all goes to zero real quick. If that happens Tether goes under guaranteed and Bitcoin dumps more than 90% in a matter of days. Literal musical chairs. But it's more likely that it doesn't happen just yet rather than that it does...
The fact that Ackman was screaming hell is coming again this morning, leads me to think there is light at the end of the tunnel. He's trying to get maximum out of his shorts before cashing in.
I wonder about this as well. I remember reading that exports to US was a very small percentage now of their GDP. It of course was much higher 10 and 15 years ago. But now, it was just a few percent. So if these numbers are accurate, then even a 50% reduction of exports to the US isn't crippling to them, and worst case, a 100% reduction won't kill them. But how on earth with the US survive without Chinese imports? I'm thinking not just dollar store shit, but iPhones and electronics, and also medicines, etc. From what I read, the military supplychain is dependant on Chinese components. Imagine if China actually bans exports to the US! Lets also not forget that the Chinese government has the power to starve its people. In the US, someone starts a riot because their chicken wings went up by 50 cents and causes hundreds of thousands of dollars in damages. So I think the Chinese citizens will be better controlled during a massive tariff war than US citizens.
or he lost 20% of his portfolio last week and in their analysis realized they will lose another 50% before its done. He's certainly talking his book.