Gold Spikes Above Key Technical Level As USDJPY, Bitcoin Tumble

Tyler Durden's picture

As European markets closed this morning, all bids disappeared from USDJPY and the pair dropped back below 114.00. In its mirror-like manner, gold reflected this tumble and surged above its 100-day moving average over $1280.


As USDJPY rolled over so Bitcoin hit an airppocket at the european close...

Remeber, Japan is currently the most active market for Bitcoin, so one wonders if this is some pre-saging of a general crackdown - despite all signals pointing the other way in Japan.

If you're looking for a catalyst, good luck. Fed'd Dudley was speaking but focused on regulation with no monetary policy comments. No new headlines from Asia/Trump. It seems the closing bell in Europe is all that is needed to panic-buy Yen.

Perhaps it's just a delayed reaction to the chaos in the middle-east this weekend?

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Gap Admirer's picture

Bitcoin tumble?

tmosley, paging tmosley... We need some bitcoin pumping here.

Ramesees's picture

Everybody knows a correction is due and the fork is going to cause major headaches.  


$1,000 to $7600 is quite a run though.  

RabbitChow's picture

yup.  bitcoin is dead.  for the fourteenth time.  


Correction due maybe, but fork?  not gonna happen this time.


Dsyno's picture

"paging tmosley"

Please don't bring tmosley here. Finding a comment thread without him is like an oasis.

tmosley's picture

If you don't like bitcoin, then stop clicking on bitcoin articles.

This shouldn't be a challenging concept.

Gap Admirer's picture

Bitcion is the awesomest. I hear a lot of people on ZH pumping it so it must be true. Besides, the article is about gold.

IH8OBAMA's picture

I may have to stop bashing the Bitcon until I sell my little 1/4 coin that I found in my LBC account.  I'm going to sell it between $9k and $10k so keep pumping tmosley.

BTW what's the safe way to turn it into dollars on LBC these days?  It used to be Paypal Cash codes but Paypal has shut all the that down because they hate the Bitcon.


Yellow_Snow's picture

Hang til $500,000 and you'll make $125,000  :)

tmosley's picture

tbh, you don't deserve those gains. Sell now.

IH8OBAMA's picture

Why?  Because after paying for it and not thinking it would ever be worth anything more than $50 I ignored it?

Or, because I think Bitcon is worthless and should never be anywhere near $10,000?

Or, maybe because YOU falsely think that your pumping here on ZH is affecting the price of the Bitcon and I shouldn't gain from your hard work.  LOL

Maybe I'll just keep it until it goes back down to $50 then sell it!  LMAO


tmosley's picture

>Or, because I think Bitcon is worthless and should never be anywhere near $10,000?

This is why you don't deserve it. Nothing else.

I don't set the price. The free market does. You should not benefit from that just as all communists should starve to death as a result of systemic theft and destruction of capital demanded by their ideology.

Talking shit about bitcoin while owning it is blatant hypocrisy.

IH8OBAMA's picture

First of all, by your logic, you shouldn't own any dollars since you bash the Dollar vs your Bitcon.  That would be hypocrocy and your shouldn't be buying stuff with your dollars!


But here's another problem I have with the Bitcon.  The Blockchain facilitates the trades but it seems the actual price is being set by the miners and a few large traders trading between themselves to manipulate price. Remember, this is an UNREGULATED market.  If this is indeed the case, as I suspect, then this whole price appreciation is one giant scam and will totally collapse when the public discovers this issue.

The less people know about how Bitcon actually works, the longer the Bitcon scam can go on.


tmosley's picture

I'm not bragging about holding dollars, nor am I holding any for specuative purposes, as you are now explicitly doing.

If you think it is a giant scam, SELL THOSE FUCKING BITCOINS!

Dsyno's picture

"If you don't like bitcoin, then stop clicking on bitcoin articles."

First and foremost, this is a gold article, numbnuts. And to drive the point home further, it was solely a gold article until the author edited it 15 minutes after posting.

tmosley's picture

Ok, but that doesn't change the fact that you don't like bitcoin, yet for some reason click on all bitcoin articles and are surprised to see me presenting arguments that cause cognitive dissonance in you. Just stop clicking on them.

Don't start shit, won't be shit.

Dsyno's picture

I own Bitcoin, and several alt-coins. What I don't like is how annoying you are to most everyone.

It's a breath of fresh air when we can all comment without having you interject your two-cents, which is invariably some angry tirade or grade-school insults.

You need to sit back, take a fucking chill-pill, relax in the security of your growing riches, and stop being a dick.

tmosley's picture

Don't really care what you own. What I care about are arguments, and "you're annoying" is NOT AN ARGUMENT.

IH8OBAMA's picture

We come here because we really, really enjoy yanking your chain, tmosley!  At least that is why I like to comment in the Bitcon threads. That and offering an opinion to balance your rediculously optomistic view of this bubble.  LOL


tmosley's picture

>we really, really enjoy yanking your chain

You can masturbate on your own time. You want me to be embarassed for making money? Ridiculous.

>That and offering an opinion to balance your rediculously optomistic view of this bubble

Opinions are like assholes. Give me arguments or shut up. Your opinion is worth less than nothing.

crazybob369's picture

Bitcoin tumble? Guaranteed. I just bought some today.

tmosley's picture

If you just bought "some", you'll be fine. Downside targets are $6200 and $4900. Buy in big at those levels. They won't last long.

No Time for Fishing's picture

Making sure there are some buyers at your stops?

tmosley's picture

No, those are my buy levels as well.

I don't need the peanut gallery to provide liquidity. What a ridiculous notion. Everyone knows they lost all their money on silver!

NugginFuts's picture

Almost bought over the weekend but kinda felt like it was getting toppy.... I would LOVE a good $4900 buy in. Doubt we see it go that low, though.

tmosley's picture

There is quite a bit of resistance between here and there, but big news flows and rotation out of BTC into alts post-fork might be enough to get us there.

HRClinton's picture

Dear tmosley, I bought my BTC in 2013.

Have also been mining other cryptos since then (LTC, FTC, Doge).

Am I still above water?  Will I survive the next dip, fork or spork?  I know the End is Near. I'm scared and wondering if I should run for shelter, by going into... Silver.  Or should I buy farmland from  Soros's ex-partner, Jim Rogers, and build a nuke shelter?



0valueleft's picture

Ha, so true. Sometimes I'll take 10% of my allocation, buy some and wait for the drop to use the remaining 90%.

Yellow_Snow's picture

Hang tight...  btw welcome to the club

10k by year's end !!!

0valueleft's picture

Now there are 2 menbers, maybe, he might not commit.

tmosley's picture

You peanutz are nothing if not predictable. BTC falls a few % and you're out dancing in the streets, proclaiming your final victory. Didn't work out so well last time, and ET left in shame.

Will they ever learn?

NO! If they could learn, they wouldn't be peanutz!

Gap Admirer's picture

That was NOT a very good pumping post. I've seen much better from you tmosley. Bad day today?

tmosley's picture

Better than your best day, I can tell you that much.

Gap Admirer's picture

Awwww... It's like you're my little brain damaged buddy now.

Ink Pusher's picture

tmosley is crypto's version of Gartman   LOL

DjangoCat's picture

You guys are pretty dumb.  Nothing goes up without a pause.. Bitcoin is up over 16% in the last 7 days.  What the fuck do you want?


SubjectivObject's picture



into the current channel ceiling

Michigander's picture

When the move looks good in a  four hour chart or higher, then come and talk to me. Im so tired of looking at bulloin with a fucking microscope at 5 min, 1 minute, and .000000001 second charts to even see the god damned move!

tmosley's picture

Higher oil price==higher PM prices. Simple as that.

Until thorium fission and fusion come online, that is.

This Saudi consolidation of power won't last long though, and afterwards, oil will go back to where it was. Even if it doesn't, shale production will pick up and oil will be capped again.

It just isn't a great bet any more.

Cash2Riches's picture

Bitcoin has been sucking massive amounts of investment capital out of the precious metals markets for the past couple of years, so where do you think this money is going if there is a massive pull back, or cryptos become overbought? You guessed it, gold and and silver will rise again. Fiat is the real loser here.

tmosley's picture

Dat wishful thinking tho.

BTC money is flowing into alts, not into PMs. The people have tasted the fruits of crypto, and found them sweet. Only those fools who have none, and feel they missed the train think they are sour grapes.

LawsofPhysics's picture

Sure... sure...

Just a couple quick reminders; 

1) Talking about the "price" of anything in the absence of a mechanism for true price discovery is a fool's errand!

2) When fraud is the status quo, possession is the "law".

"Full Faith and Credit"

kliguy38's picture

yup separate the two players in this game......paper and them both if you wish but understand they are two separate animals.

This is it's picture

Que hammer time! 

tmosley's picture

"Que" is Spanish for "what".

The word you are looking for is "cue", which means, "tell to get ready to come on stage". This is different from "queue" which means to form a line.

crakerman's picture

And Silver, dont forget about silver.

Give Me Some Truth's picture

Silver was knocked down 40 cents in two minutes Friday ($17.18 to $16.78). If a reason for this plunge was given by the "Reason Giver," it wasn't needed. By this point, we have all been conditioned to understand that such plunges "just happen."

There is a cumulative psychological effect to all of these recurring cliff dives. That effect? Don't buy gold or silver. There is also a reason "sentiment" for gold and silver is at all-time lows. Apparently enough of these sudden price plunges - over enough years - and would-be investors start to notice. 



Scuba Steve's picture

Hmmm, not scaring me for some reason ...

"People Under the Stairs" were my heroes.