Friday, December 29, 2017

Crypto/Gold Update

 Good Morning,

We have an exciting New Year ahead, I hope everyone stays healthy, and that you are having fun learning and making money in the current and coming Crypto revolution!

Keep in mind that globally only 1.5% of us innovators are in the crypto space, and that there is a tidal wave coming.  I expect the early adopters to bring the total of global users above 10% by the end of this year, and that by 2022 the majority of the globe will be transacting in this manner.

Before today’s crypto update, let’s talk gold.  Gold is moving strongly higher in what I believe to be wave 1 of 3 up.  It is currently at resistance and we may get a short term pullback after this run, but then wave 3 of 3 higher should follow.  Wave 5s are the most powerful in commodities, so I expect that following a very powerful wave 3, that wave 5 will be even longer.  Here’s my current daily gold chart:

My minimum upside target for gold at the end of wave 3, if this count is correct, is $1,440/ounce.  That’s a minimum if wave 3 is equal to wave 1, but it could be up to 1.5 times as long.  Ultimately I think this rally could be very substantial.

To back that up, the Dollar made a very large move lower today (against the other fraudulent centrally controlled central bank debt money).  It has broken the neckline of a sizable Head & Shoulders pattern:

The target on the H&S pattern is about the 23.3 area for the Dollar, a pretty good move lower if reached, one that will create an overall lower low, and thus keep the downtrend in the dollar going.

What most mainstream analysts fail to understand is that confidence is being lost in all governments and in all centrally controlled monies.  This can be seen in the rise of the cryptocurrencies – they are a mirror to the old failing money systems where the math is laughably impossible, yet not discussed because everyone knows the impossibility they created.

So, dollars are dying, gold is dandy, and this leads us to something that puts the math on our side, the new money system/s of Cryptos…

The Token space has been staying overall much stronger than the mainstream coins over the past few days, I think that’s positive.

Yesterday’s and last night’s moves really sent two of my holdings much higher.  Those were Ripple and LEND.  Both have more than doubled in just the past few days.  Since the Bitcoin top, Ripple has moved from the 20 cent range to now $1.80.  LEND jumped 150% yesterday alone, and now sits at 20 cents.

LEND will be my first Coin of the week, I’ll highlight it after the first of the year with a report.  In a nutshell, it is an Ethereum based Token that has a lending App.  People around the world can borrow and repay crypto currency.  The token itself pays 1% interest per year.  Not much interest, but something.  I like this a ton as it moves humanity further from central banking.  The team is very impressive, and I think they did not do this project for greed, they did it to genuinely help humanity, and as such I am supporting them with a long term investment.

Ripple’s somewhat scary advance (basically straight up) comes on the release that they are working with a group of Japanese credit card companies and have formed a new consortium.  The consortium is working to deploy their technology with credit cards around Asia.  Here’s the scary chart:

In the mainstream coin arena, Bitcoin Cash finally caught a bid this morning, zoomed to $2,900 and has since pulled back.  This sudden burst of energy on high volume is a positive development and makes the chart look constructive.

Litecoin is stuck in a sideways channel with little energy.  It could still go either way from here.

Ethereum looks relatively stronger than the rest still.  Since the large bottom, it has made a series of higher lows and looks like it is working on a 5th wave higher.  If so, that would be bullish.

Bitcoin fell yesterday down to the giant H&S neckline, then bounced in what I can count as a 5 wave higher move.  That may be bullish and since yesterday’s low has put in a higher low.  Now it needs to make a higher high, but overall energy for Bitcoin is still low.  It has been drawn like a magnet back and forth across the $13,800 area.  It has not crashed beneath it, which is positive.  But when it gets above it, it runs out of energy as it reaches resistance.

What would be the right shoulder of the giant H&S is now getting too long sideways to be proportional to the left shoulder.  I am now favoring the middle possibility that I pointed out yesterday, that we will move sideways from here and base build.  Here’s my current big picture Bitcoin chart, showing both the possible bearish and bullish paths:

That’s it for now, I’m working on a large article titled: “Bitcoin and the Cryptocurrency Revolution – The Most Important Change of Your Lifetime, and Why it Will Spark Humanity’s Next Renaissance!”  Look for that coming soon and on the new Cryptonomic Edge website.