BTCUSD Bitcoin Monthly Chart; Former President Trump Proclaims, "Never Sell Your Bitcoin" at 70K

At the Bitcoin Conference, King Donnie, the orange-headed bloviating carnival clown, that is running against Cackling Kamala, the incompetent insecure amateur that is a progressive communist, for the POTUS gig, after Sleepy Joe, the frail confused Alzheimer patient with onset of dementia bowed-out, proclaims, "Never sell your bitcoin!"

Former President Trump may regret those words over time. The monthly chart above is ugly with rampant negative divergence (red lines). The MACD is trying to eek out another month or two of buoyancy but with price at new highs this year, the MACD cannot reach the prior high (bearish).

Here is the link to the prior bitcoin chart and analysis that explained the double-top, spankdown, then forecasted relief rally back up to 65K-66K, with price now at 68K pushing towards 70K.

Fundstrat's Tom Lee has been Mister Bullish on bitcoin predicting wildly higher numbers. The bitcoin bulls also have high expectations but that is mainly talking their own book. Maybe there is a fundamental reason they are citing but the long-term chart above is ugly. The monthly chart is setting up for a multi-month pullback probably targeting the 40's where tensions will be high to see if the dark blue trend line is lost.

Keystone is not in bitcoin or any cyber currency derivatives long or short. The bitcoin daily chart is setting up with neggie d so it should top out in the daily time frame any day forward (as long as there is no positive news; Trump's comments should provide a bitcoin bump).

The cybercurrency ETF's were a big deal and now they are getting handed out and passed around like a bowl of macadamia nuts. For the monthly chart to improve, it would need massively good news, but it appears that the great ETF news did not do much, so the better news would have to be far better than the ETF news. It does not sound realistic.

Bitcoin will be interesting to watch for the remainder of the year. King Donnie, King Cry Baby, may regret those words about 'never selling your bitcoin'. This information is for educational and entertainment purposes only. Do not invest based on anything you read or view here. Consult your financial advisor before making any investment decision.

Note Added Monday Morning, 7/29/24, at 6:16 AM EST: Bitcoin is at 69.5K and was a stone's throw from 70K three hours ago, lifted by Trump's happy comments. 70,000 is a nice easy number to remember. King Donnie Trump proclaims on 7/28/24, with bitcoin at 70K, to, "Never sell your bitcoin!" It will be fun to see how Donnie's bold call fares over the coming months. Did Donnie actually, unknowingly, call the top?.

Note Added Tuesday Morning, 7/30/24, at 4:19 AM EST: Bitcoin rises to 66989.18 a whisker from 70K and then falls on its sword yesterday to 67K. Donnie Trump, the business idiot, lost 3K in one day (from the 70K that he tells everyone to never sell). Bitcoin has a 66K handle this morning. It's going the wrong way, Donnie. This week is nutso, probably the most critical week of the year, with major tech and other earnings on tap, the Fed decision and set-up for future rate cuts, the BOJ decision, and the Jobs Report. Bitcoin is starting to receive the neggie d spankdown in the daily time frame as mentioned above so a few days of sogginess/falling prices is expected for the cyber currency this week.

Note Added Tuesday Morning, 7/30/24, at 6:56 AM EST: Bitcoin is 66.6K. There sure are a lot of 666's appearing these days.

Note Added Tuesday, 7/30/24, at 5:46 PM EST: Bitcoin is 66.2K after falling like a rock to 65.3K a few hours ago (a -7% collapse from 70K in only a couple days). Where's King Donnie? Like the ole Wall Street adage says, "If Donnie likes bitcoin at 70K, he's going to love it at 65K." Pause for laughter. Markets generally became soggy today after Israel fired a missile into Beirut in retaliation for Hezbollah killing Muslim children on Israel's land a few days ago. Gold pops to 2452. Mr Softy sh*ts the bed this evening with earnings. Everyone is waiting on the Fed decision tomorrow afternoon and more importantly, the commentary by Pope Powell. He is carving the tablets tonight that he will bring down from On High tomorrow when he rides into the FOMC meeting and press conference on his pale green horse.

Note Added Friday, 8/2/24, at 8:38 PM EST: A cascading stock market selloff circles the globe with investors chasing notes and bonds sending yields lower. Bitcoin collapses to 61,320. Where's King Donnie Trump? Hey orange head, if you liked bitcoin at 70K, you are going to love it at 61K. Trump is a fade when it comes to trading or business.

Note Added Sunday, 8/4/24, at 6:33 PM EST: Bitcon pukes down to 57,211 about 5 hours ago. S&P futures are on line and collapsing -53 points. Where's King Donnie Trump? Hey orange head, if you liked bitcoin at 70K, you are going to love it at 57K. That's funny. Trump is a fade. He jinxed bitcoin.

Note Added Sunday Evening, 8/4/24: The cascading global stock market selloff, quickly becoming a crash, continues rotating around the world.  Bitcoin is in retreat to 57K a dramatic drop after former President Trump, King Donnie, proclaimed that 70K was a permanent floor for bitcoin a la Irving Fisher before the 1929 stock market crash. That's funny.

Note Added Monday Morning, 8/5/24, at 3:30 AM EST: Bitcoin is in retreat to 52,442 a -25% crash from the 70K top that King Donnie Trump declared to be 'a permanent high plateau a la Irving Fisher'. Donnie is a fade. If you listened to the orange head, you lost -25% of your money in only a few day's time.

Note Added Monday Morning, 8/5/24, at 9:01 AM EST: Bitcoin is in collapse to 49,895. Hey Donnie, if you liked it at 70K, you will love it in the 40's. 

Note Added Monday Evening, 8/5/24, at 6:30 PM EST: Bitcoin recovers to 54,871. Buyers came in as soon as the 40-handle appeared. Donnie is on his knees, praying that bitcoin rallies so it can be used as a campaign prop.