Alex Profile picture
13 Nov, 4 tweets, 2 min read
Citibank bitcoin technical analysis.

Target: Moon.
For perspective, this analyst is a big fan of moon targets. Here's his earlier take on gold and silver (from July - a week after the breakout).
This kind of technical analysis is of little value. There is no edge in guessing targets so far in time with TA. All we know is that price is likely to continue going up, and a lot.

But readers loves this. What matters here is Citi's clients being exposed to the bitcoin moon.
Sell-side research is all walled.

Links if any are password protected.

• • •

Missing some Tweet in this thread? You can try to force a refresh
 

Keep Current with Alex

Alex Profile picture

Stay in touch and get notified when new unrolls are available from this author!

Read all threads

This Thread may be Removed Anytime!

PDF

Twitter may remove this content at anytime! Save it as PDF for later use!

Try unrolling a thread yourself!

how to unroll video
  1. Follow @ThreadReaderApp to mention us!

  2. From a Twitter thread mention us with a keyword "unroll"
@threadreaderapp unroll

Practice here first or read more on our help page!

More from @classicmacro

12 Nov
Fact that coronavirus has been "over-rated" does not make it a hoax. Corona is a big deal, just not as bad as we thought. Chart shows people with COVID in hospitals (chart not per capita).
Countries have been actively preparing since March. Resources available to deal with the pandemic have risen dramatically. Chart shows the number of ICU beds globally.
Increased resources represents on of the reasons for case fatality rates collapsing.
Read 9 tweets
12 Nov
Biden is not President-elect until states cast their votes (Dec/14) and congress counts the votes (Jan/6) OR Trump concedes. Trump's odds of turning the situation around via the courts are extraordinarily low, but he has not yet conceded.

politifact.com/article/2020/n…
The media calling Biden President-elect and Biden doing so as well do not make Biden President-elect.

If Twitter's censorship machine were fair, it would be censoring Biden for spreading misinformation. But fairness is a fairy tale.
What Biden and the media do is apply public pressure to get Trump to concede as soon as possible. It's a political power move.

Misinformation can and is often used for political reasons.
Read 5 tweets
7 Nov
You are selling into the hands of me. Thank you.
Was hoping for a dip as $BTC & $ETH had finally gotten frothy in the last 36H (chart shows $BTC basis).

Increased BTC & ETH exposure and opened YFI REN ZEC & KP3R longs. This is my trading stack. I don't trade $BTC spot anymore, just hold it. That bullish I am. Image
Expecting a strong week and expect alt betas back >1. See this small correction as healthy. Image
Read 5 tweets
6 Nov
Bitcoin is trading election results. It is now a macro asset. It responds to macro events. Trends ensuing from elections have long staying power. Best to ignore resistance levels and be patient. If it corrects, too bad, very likely it will be only temporary. Opinion not advice.
The key $BTC driver until Jan/5 will likely be the Georgia Senate election run-off, that would determine if Democrats get to control the senate. If they do, hello massive spending and currency debasament. If they don't, we get a stronger dollar. Bitcoin is trading that.
I think Trump's contesting of the elections will represent noise as far as markets are concerned. For those who disagree, this here likely is an excellent spot to sell some $BTC. That won't be me.
Read 4 tweets
5 Nov
Seems Trump won't concede until the last minute, after making every vote get recounted. We are looking at this lasting until December.
Trump claims widespread electoral fraud took place. I'd guess odds of that are in the 0%-3% range. Seems he and his close circle believe in it. He will push this to the end.
No. Trump does not have the support of the military for taking authoritarian measures, and he is fast losing support of the GOP. For as long as he doesn't overturn results at court, this is just noise.

Read 4 tweets
5 Nov
$BTC 20K now doable in 2020

25K-30K in 2021, all possible. Going to see a heavy string of positive bitcoin headlines next year.
This is nothihg alike 2017. Some minor euphoria today. Can see that in funding metrics. But $BTC is now trading like a macro asset, not a retail fantasy.

Read 4 tweets

Did Thread Reader help you today?

Support us! We are indie developers!


This site is made by just two indie developers on a laptop doing marketing, support and development! Read more about the story.

Become a Premium Member ($3/month or $30/year) and get exclusive features!

Become Premium

Too expensive? Make a small donation by buying us coffee ($5) or help with server cost ($10)

Donate via Paypal Become our Patreon

Thank you for your support!

Follow Us on Twitter!