Mixed Signals

Bitcoin has had extremely lack-luster price action over the past two weeks, and it's been beyond annoying I must say. I guess that's what you get when a bunch of riots and social unrest breaks out, your country wages war against the middle east for the thousandth time, and the global economy continues to look like hammered dogshit. Within that context $100k BTC is looking pretty awesome, but obviously we'd all like to see much much higher.

My orange circle wrapped around the last full moon seemed to play its part quite well. For the most part the price almost seemed to perfectly wrap itself around the circle. A quick long at the first $100k would have made a pretty sweet gain if cashed out 4 days later, but I certainly wouldn't have anticipated only 4 days of green before crapping out. Now we've made a full return and my long is back to breakeven, which again is pretty annoying but whatever. I honestly want to close it at this point but will keep it open until July just as a matter of discipline. Sticking to the plan is difficult and I want to make a habit of following through with my plans.

I hear that during the LA riots over ICE coming in and scooping up undocumented folks that a bunch of Waymos were set ablaze... which is kind of weird because apparently people in LA like the Waymos and they are pretty convenient robo-taxis.

So why burn them?

It all comes down to the surveillance state.

In April, 404 Media revealed that the LAPD was publishing crime footage it got from a Waymo driverless car in an effort to identify a suspect. As 404 reported, “The proliferation of Waymo cars also means the proliferation of roving surveillance cameras.

Another war on data?

Even the mob seems to be waking up to the fact that the control grid around them has been stacked against their favor. It's a complete invasion of privacy to use camera footage from a robo-taxi, even if the objective is to prosecute a crime. This is wildly inappropriate behavior that is all-too-often justified by the police state as "a matter of safety".

Yes, that is always the excuse. Give up all your freedoms and right to privacy because "safety". Very cool. Wouldn't be a problem if this power was never abused, but it always is every time without fail, as history has shown without exception.

Gas prices going up?

Petrol has been uncharacteristically cheap this summer and hasn't really increased in price at all which is highly unusual. Gas is cheap in the winter and expensive in the summer; that's just how it is. Supply and demand.

Of course starting another war in the middle east and having them refuse to deliver their black gold across the globe is potentially a problem that will lower supply and increase prices. A lot of people seem to be getting tired of the military industrial complex bending over backwards and being the bitch of the terrorist nation state of Israel. Of course the USA is also the ultimate terrorist nation state itself so it's a match made in hell. They've had plans to take over Iran since I was in middle school. Can we just allow a cleaner form of energy to takeover and be done with this? Big Oil says no. The war machine lumbers forward like the gigantic oaf it is.

Looking back and TA land...

Something happened today that I've never seen in the last 8 years. We get a death-cross today on the short timeframes 25/50 days... but a golden-cross on the longer 100/200 day timeframes. Current market value is in the middle of both crosses. That's a pretty wild mixed signal.

Luckily any price above $100k is wildly bullish and chips away at the liquidity void while allowing non-believers to sell their bags to Saylor and Blackrock day by day. $96k is now a rock solid place to buy the dip as the crux of the golden cross on top of a trendline that goes back to the beginning of the year.

Conclusion

The world is a complete shit-show right now and the economy is not amused.

Posted Using INLEO