The volume profile across 6 of the top 10 assets globally are screaming loud and clear....
The fat lady is about to quit singing and there's only three chairs to jump onto.
Cash, Gold, and my favorite SILVER...
Each of these ChARTs shows a very telling story.
That the free float was absorbed long ago.
And there hasn't really been any volume up here for the past 5 to 10 years depending on asset.
Obviously Bitcoin has no earnings so the POINT OF CONTROL line is all we have.
But that says it all.
All the Bitcoin Billionaires have the float.
And I'm sorry wishing to become trillionaires is greedy and greed kills.
Nobody gets a free ride like that.
That's not how markets work.
Eventually the buyers dry up. And the job numbers are skewed. Groceries are high. People are not buying Bitcoin except the real Bull-ievers.
But those bids will not withstand the selling that will occur in any downturn from these levels.
Think about it. 3 TIMES now Bitcoin has hit 70k and if you bought sub 3k you are thinking Ok... I maybe should be thinking thank God for what I have. How long does the belief in 250k last?
Eventually one says uncle. Then the next. And the next... ETC and so on...
And the whole market looks the same. All propped up by QE and Covid Stimi checks.
All these EPS are under the POC line accept for APPL...
But seriously who in their right mind would pay 25 to 1... That's a gamble for a 4% gain...
LET ALONE 75 TO 1 !!!! Putting up $75 to make $1 is 1.33% ...
HOW MUCH UPSIDE CAN BE LEFT?
You could stick your money in Money Market and get 5% all day... There is no upside here...
And who do you think is holding the bag here?
You guessed it... Boomers! And they are retiring. You think they are willing to hold all the way down again?
The RISK to REWARD does not add up for any long term play here.
PERIOD!!!
The fat lady is about to quit singing and there's only three chairs to jump onto.
Cash, Gold, and my favorite SILVER...
Each of these ChARTs shows a very telling story.
That the free float was absorbed long ago.
And there hasn't really been any volume up here for the past 5 to 10 years depending on asset.
Obviously Bitcoin has no earnings so the POINT OF CONTROL line is all we have.
But that says it all.
All the Bitcoin Billionaires have the float.
And I'm sorry wishing to become trillionaires is greedy and greed kills.
Nobody gets a free ride like that.
That's not how markets work.
Eventually the buyers dry up. And the job numbers are skewed. Groceries are high. People are not buying Bitcoin except the real Bull-ievers.
But those bids will not withstand the selling that will occur in any downturn from these levels.
Think about it. 3 TIMES now Bitcoin has hit 70k and if you bought sub 3k you are thinking Ok... I maybe should be thinking thank God for what I have. How long does the belief in 250k last?
Eventually one says uncle. Then the next. And the next... ETC and so on...
And the whole market looks the same. All propped up by QE and Covid Stimi checks.
All these EPS are under the POC line accept for APPL...
But seriously who in their right mind would pay 25 to 1... That's a gamble for a 4% gain...
LET ALONE 75 TO 1 !!!! Putting up $75 to make $1 is 1.33% ...
HOW MUCH UPSIDE CAN BE LEFT?
You could stick your money in Money Market and get 5% all day... There is no upside here...
And who do you think is holding the bag here?
You guessed it... Boomers! And they are retiring. You think they are willing to hold all the way down again?
The RISK to REWARD does not add up for any long term play here.
PERIOD!!!
ChARTist @ Large, uncovering Mysteries In the ChARTs daily...