same line hourly chart

24 nov 2021

price is backtesting the line, nothing more. this is the same line as published in the 2021 break above a decade long upper trend line. this usually signals a melt up of mammoth proportions. the conditions supporting a melt up have not changed, 105 billion or more of qe per month.

8 gen 2022

Nota

of course the conditions of qe changed, so melt up off the table