fundamental and technical support for $GLD and $BTC
Have been advising my boss to long gold and bitcoin since the price was $2000 and $38000. My next buy would be when price retrace back to around MA30 for Gold and MA100 for BTC weekly basis to get better R/R.
Fundamentally: long term weakening of US government credibility. 1. hard asset monetary inflation due to fiscal burden that yellen have to keep the collateral asset in the market stable with abundant liquidity in order to refinance the debt. 2. forecast to cut fed fund rate will weakens USD and real rates (previously real rates distorted by proportions of different length of bond issuance) 3. Bitcoin is the digital gold with higher volitility
Technically: still within long-term trend.
Not
target price >$3000, now $2600
Not
bitcoin seems to breakthrough its long term range bound?
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