That is the technical term of the chart pattern we are seeing play out.
It's not really, but the dinosaur pattern has caught on over the past couple of year so I figured I would go with it.
This pattern is especially amusing as it relates to gold because gold is considered a dinosaur by many millennials, especially when compared to bitcoin.
So, without further adu, the gold dinosaur pattern:
(Source:
)https://twitter.com/MMGinvest/status/1142143410041688065
- MMGinvest
What would be even more amusing would be if it completes the chart to the downside.
It probably won't though as gold will continue to catch a bid until Trump stops all this Trade War nonsense.
Ironically, that may be part of the reason bitcoin is catching a bid as well.
By the way bitcoin is north of $11k now as I type. So much for slowing down around $10k!
Stay informed my friends.
-Doc