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good morning everyone, I'm CHP, this is December 7, 2023, this is a coffee cookie bitcoin, let's see what's new in the world of bitcoin today, entertaining content, not investment advice, these are just CHP's morning mumblings, so it was worth opening the chartpunk video today with this little piece of coal, Jamie Diamond is back, he looked the terror granny Elizabeth Warren in the eye and said the same nonsense that the mainstream media has been repeating for years about bitcoin, don't we remember that last week there was an article on the BBC where it was practically said that each bitcoin transaction uses a cup of water, then Greta Thunberg shed a tear in the corner of her eye, and now Jamie Diamond made this beautiful statement at the terror granny's hearing in the Senate, and well, here's another piece of news from yesterday, I'll look it up for you right away, I shared a lot of things here yesterday, yes, here's the Financial Times, there was an article yesterday in which the Financial Times joined the BBC's report last week and they brought that article that was almost full of original ideas, according to which bitcoin is actually a worthless pyramid scheme, only the so-called bigger full or greater full theory drives the price of bitcoin, so people get involved like in the Dutch tulip market and in the end the one who buys it at the highest price is the one who ends up the worst off because it collapses, because it's a ponzi scheme, there is nothing behind it, there is no so-called intrinsic value behind the network, the Financial Times forgets to state that behind the network, the basis of the whole thing is the energy consumption, which creates value immediately for each and every bitcoin produced, but anyway, it seems that in the past few days the rising bitcoin price has lured the fools out of the bushes and the same original ideas that we could already hear in 2011, 2015, 2018, 2021 have started everywhere, we can repeatedly state yesterday's based on the news that bitcoin is dead or it's time for it to die again if we look a little more at yesterday's news there are a couple of interesting things i shared a tweet from peter shift on the internet peter shift is a very interesting form by the way actually he can be called a good guy he has vitriolic tweets when he always comes out and lashes out at bitcoin and gold i think this is more of a joke type story he wants to be in but there is a very interesting thing going on in the united states right now regarding which one one one one very good tweet i don't know how much you know in the united states right now there is a tax case before the supreme court where it will actually be decided whether the wealth represented by the current senator warren and biden and all these democratic communist vog extremist economic politicians can be bed this is what they are planning to introduce again in the united states so basically it is about the unrealized exchange rate gain or capital income and taxation and the shif said something very interesting about this, how much of a straightforward and honest and genuinely communist attitude this is, you know, from the United States, what happens is that I start to inflate the basic wealth, I start to inflate the money, in this regard, for example, the value of real estate and securities increases just because of inflation, which I then immediately tax at 25%, so what I'm actually doing is I'm requisitioning state wealth, I'm building it by inflating the wealth, and then I'm immediately taxing the virtual wealth growth generated by inflation, this growth in value.
These days, there's a very, very important case before the Supreme Court of the United States in this regard, and actually, as shif points out, it can be said that if the Supreme Court gives the green light to tax unrealized capital gains, then the United States will definitely turn in such a Stalinist communist direction, which the World Economic Forum, right, this is the VEF, then Mrs.
Warren and Biden they have been secretly and openly pushing for a long time, practically the biggest stake in next year's US presidential election will be whether the United States, as the world's still the strongest economy, can return to such a relatively normal direction or will they finally turn the wheel of communism and start to turn the American economy's bike in that direction, in this Stalinist communist collectivist communist direction, in which direction the United States has never really gone in history, let's see what else I found interesting here from yesterday, yes, this is also an interesting thing, an infographic came down from Bárcsár, which shows that in recent years, central banks around the world have been practically accumulating gold as if there were no tomorrow, and this is again an interesting dynamic because, as Ray Dalio pointed out, when the world's monetary system starts to turn from a fiat-type monetary system to a hardmoney-type monetary system, this has happened over several cycles in world history over the past several hundred years.
year when this change happens then there is usually a very turbulent historical period taking place which is usually marked by revolutions and wars it is a very, very bad sign that we will spend the next decades in such a cyclical paradigm shift it is not certain that it will be good to live in these years let's hope that there is still enough rationality left in world politicians that they do not do the same world wonders as during the previous cycle changes although if I look into the crazy eyes of the senate warren then the problem is that I can practically imagine the worst possible prospects here in relation to this infographic I would like you to think about something when the Bretton Woods system was introduced then there right there right what happened was that the US dollar was appointed as the global reserve asset the US dollar was pegged to gold at a price of 35 dollars per ounce and all the world's currencies were pegged to the US dollar this is why this was Later, in 1971, the Nixon Kissinger line was forced to release the petrodollar when they introduced it.
This was a doubly floating monetary system. The US dollar was tied to gold, but the US dollar was also diluted. Other currencies were tied to the US dollar, but other currencies were also diluted. The whole thing collapsed in 1971 as a result of the great digital inflationary monetary policy. Now, the interesting thing about this infographic is that we started at $35 during the Bretton Woods Agreement in the first half of the 20th century and now the world is returning to Hardman's gold price of somewhere between $2,000 and $2,100 per ounce.
We sincerely congratulate Keynes and the central bank politicians who followed his teachings in the past century for managing to go through this cycle, which inflated the real value of the US global reserve asset from $35 to $2,100. This is a very interesting dynamics is also an infographic as I found on bchart a few weeks ago there was news that the biggest shorter of US treasury bonds bkmenő closed his short positions and the world is now expecting that some kind of interest rate cut cycle could begin here which will perhaps promote the appreciation of medium and long-term US government bonds in my video yesterday I showed you the graph of tlt how the exchange rates of 20-year treasury instruments are moving you can see that even though one of the biggest speculators bill eckman closed his positions in the bond series the situation is still that asset managers are continuously positioning themselves in the long direction in long-term US treasury instruments while hedge funds on the other hand are continuously shorting this asset category so the hatch trees are actually betting that there will be no interest rate cut for quite some time and that this completely broken floating exchange rate will remain for quite some time or price floating exchange rate loss remains on long-term US government bonds this is a very interesting divergence here now the spot asset managers and the hge funds are completely going against each other with floor gas this is such a chicken game now in the long- term US government bond market we will see what the end result of this will be and then here after the slightly long introduction let's move on to the bitcoin charts the long-term target price you know and then let's see what the consensus chart shows us on the seven-day chart our starter momentum is beautiful rsi has raced upwards it is nicely expanded from its exponential moving averages it is moving very well on the tentacle momentum oscillator is still lazing around but basically the trend is in good bullish territory it looks beautiful long triple trend structure the moving averages are in a long arrangement we get green candles on the tentacle trading system indicator we see that here we currently have the medium moving average at 38000 dollars so that from the long 3 we need to return to long position exposure here on the weekly chart, we would need a bearish crossover of our two short moving averages, and for this, we would need a bitcoin price below $38,000 as long as we move above it, the weekly chart will remain in this beautiful 3/3 exposure indication, the three-day bitcoin chart momentum looks really good here too and we see that the interesting level that I am watching is of course a long triple trend structure rising, all three moving averages blah blah blah look really good, I repeat, actually since $29,900 when the consensio trading system put us in a full long and since then we have been traveling in this trend structure with a 3/3 exposure here in the bitcoin market, I am watching this level now, this zone between $38,800 and $39,500, these are two such horizontal trading days, such a footprint level, such a mpoc level, and this coincides now with the average with the level of our moving average so if we get a correction that the bears have been waiting for for a long time and it takes these levels of traffic from somewhere at this level and can turn around I think it would be a uber bullish thing but I'm not good and I don't see what will happen I'm just speculating I follow the trend I think if we take these levels and get a bounce from there it would be a really good little bullish signal for now this is a beautiful trend structure a 3/3 position fill indication in the con ó trading system one day bitcoin chart we look really good here too I've been telling you for a while now that the rs in that is why you can see the continuously lower highs in the movement of the rsc and the higher highs in the movement of the exchange rate so the exchange rate dynamics and the momentum dynamics are now divergent compared to each other but basically the rsi is above all the exponential moving averages so the momentum is really It looks good and if we look at the AOR consensus trend structure, our average moving average is currently at $41,800.
If the price of Bitcoin were to fall below this, we would have to think about returning to the long- term exposure. So, in one day, we would have to go back to the two exposures out of the three possible exposures. Here, you can see that the level of the seven-period moving average is exactly the same as the point of control level that we left the day before yesterday or the day before that.
We left the Bitcoin market behind on Monday. And here, too, it can be seen that our long-term moving average is approaching the zone between $38,800 and $39,500, which I find increasingly interesting as a backtest during the trading of the coming days. If I look at the volume, we look really good. Bitcoin had above-average volume yesterday, so for now, there is still volume in the market.
This is a candle that clearly indicates such consolidation. our trend structure is still stable long triple that's all about the bitcoin markets thank you very much for your attention i hope these short morning bitcoin briefs are useful for you they help you to see the dynamics a little better here in the bitcoin market if that's the case i still thank you for the likes subscriptions comments shares see you tomorrow in the next short bitcoin market summary until then have a nice day and good trading to you guys
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