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The time for the crypto rally seems fast approaching...

#Bitcoin $BTC is getting ready hopefully to break the small wedge...
Which is also the break of the larger wedge...
But this time it might be lead by #ethereum which is also about to break out...
And the ETH/BTC cross looks like ETH is going to be the outperformed initially...
I don't yet own ETH but feeling the need to think about adding some. My primary vehicle remains bitcoin.

A rising tide will lift all boats most likely.

We've been waiting patiently for the breakout for some time. Who knows is if breaks out now but the clock is ticking...
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Raoul Pal
@RaoulGMI
How to do COVID right - The Cayman Islands.

We have tested 40% of the population thus far. Had 1 death. Have 5 active cases, all asymptomatic. No new cases in 6 days. We closed borders early, had a very hard lock down, practiced social distancing and re-opened slowly internally.
That translated to low viral loads and getting control of R0 early on.

Now, internally people have significant freedom to go about normal lives. The Hammer and the Dance strategy worked perfectly.

Also, the Gov allowed people to withdraw 25% of their pensions to lower the cost
to the government bolster peoples finances and mortgages were given a 3 to 6 month reprieve.

The community took a lot of pain to accomplish this but did it without complaint as they are used to hurricanes and the need for society to work for the greater good in a crisis.
Read 5 tweets
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Raoul Pal
@RaoulGMI
The Insolvency Phase (The End of Hope)

I am on red alert waiting for final confirmation that the Hope phase of the market has passed (March to June was my target timing for that phase).

While, we are all watching the NDX, things beneath are beginning to smell bad... 1/
The US banks are trading like shit...here is the KRE regional banks index...it hasn't broken yet but it doesn't look good.
The BKX re-tested its massive trend line break and fell like a stone...
Read 11 tweets
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Raoul Pal
@RaoulGMI
I note the frequent references on Twitter to Sweden's response to COVID with a light lockdown. There are a few issues here. Swedes, being a sensible bunch, took preventative action. But deaths are the highest in the Scandi region and are still rising...
They are still seeing case rises versus their comps...
And deaths are still rising...
Read 6 tweets

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