Guenthner Walks You Through the Crypto and AI Charts

Though he's no Bitcoin Maximalist, Greg Guenthner sees ample opportunities in the crypto space. [The Rude Awakening] January 10, 2024 [WEBSITE]( | [UNSUBSCRIBE]( Guenthner Walks You Through the Crypto and AI Charts [Sean Ring] SEAN RING As Jacob Marley is “as dead as a door-nail” in A Christmas Carol, Greg Guenthner is “not a Bitcoin Maximalist.” As Dickens wrote, “This must be distinctly understood, or nothing wonderful can come of the story I am going to relate.” From [CoinDesk]( Bitcoin maximalism is a phrase often attributed to Ethereum co-creator Vitalik Buterin who – as a bitcoiner in 2014 – described the emerging belief that the only desirable outcome of this “quiet revolution” is a Bitcoin monopoly. All other coins are at best a distraction and at worst a wrench in the chain. You must understand that Greg, or “Gunner,” as we call him, is an excellent trader and chartist who’s only interested in good trading opportunities. He’s not a “true believer” in the cryptocurrency known as Bitcoin. Because that doesn’t matter. What matters is that these trading opportunities are profitable. I tell you this because I just watched [the most glorious video]( Paradigm Press has thus far put out on its YouTube channels. I write “channels” because we’ve just created another one: Paradigm Profits. Paradigm Profits will look more at the crypto, AI, tech, and biotech industries. The original Paradigm Press channel will remain dedicated to macro and geopolitics. So, if you came to Paradigm for Jim Rickards, your channel is “Press,” while the “Profits” channel is available for anyone looking for trading opportunities in spaces Jim doesn’t cover. With that covered, I wrote yesterday that this year can be the best year of your life for trading and profits. I mean it and believe it with every fiber of my being. And there’s no better way to start doing that than by [watching Gunner’s video](. But first, I’ll summarize it for you. Then, I hope it’ll make the video even easier for you to understand. Let’s begin. Bitcoin Today’s a big day for Bitcoin. The SEC may announce that ETFs may be created using Bitcoin as the underlying asset. According to [The Wall Street Journal]( “Bitcoin has more than doubled since last January, partly on the expectation that approval would fuel further purchases of digital currencies.” This is a chart of the daily movement of Bitcoin since October: [pub] Yes, it’s been a furious rally, from $27,000 to nearly $48,000 recently. But there are two issues: the BTC price is too high for most people. And the second is that the Bitcoin ETF was never approved. SEC’s X Account Hacked According to [The Wall Street Journal]( The Securities and Exchange Commission’s official X account was hacked when the agency posted late Tuesday that it had approved exchange-traded funds holding bitcoin, forcing Chair Gary Gensler and the regulator to disavow the erroneous post. Bitcoin briefly jumped to near $48,000 before Gensler said on the social-media network that the message was “unauthorized” and that the SEC “has not approved the listing and trading of spot bitcoin exchange-traded products.” The agency later posted that its account was “compromised.” “It’s a hack,” a spokeswoman for the SEC said. As today is the 10th, the SEC may approve the ETFs after you read this. But we’re unsure, as the denial was so vehement. Be that as it may, there are other ways to play Bitcoin than buying and selling it. Bitcoin Miners The best part of this video is that Gunner goes through the charts. You get a “look over Gunner’s shoulder” view of how he sees stocks and their movements. It’s an excellent and easy education for anyone unfamiliar with charts. So, while many will just look at the BTC chart, Gunner looks at the BTC miners. MARA, RIOT, & CLSK Marathon Digital Holdings (MARA), Riot Platforms, Inc. (RIOT), CleanSpark, Inc. (CLSK), and Hut 8 Mining Corp (HUT) are all Bitcoin miners. But as MARA is the largest and most frequently traded, that’s the one with the cleanest chart right now. Watch the video and see how Gunner compares and contrasts those charts. It’s an education in and of itself. [Rude awakening] Notice how we got a rocket of a move - even more so than Bitcoin’s own move - during the past rally. AI Stocks After giving that great review of BTC and BTC mining stocks, Gunner turned his attention to AI. This is still a huge story. If you didn’t buy MSFT in the 90s, AAPL in the 00s, or AMZN in the 10s, don’t miss out on AI stocks this decade. [Why The Markets Are TANKING]( As we speak, the markets are being manipulated – to the tune of trillions of dollars. By this time next week, a large portion of blue-chip stocks could shed 10% to 20% of their value… And millions of investors could be on the wrong side of a historic “pump-and-dump.” You must proceed with caution. 2024 is already off to a rough start…and once you watch this video, you’ll see why this could continue all year. [>> Click to watch now.]( [Click Here To Learn More]( NVDA While Gunner initially thought NVDA couldn’t repeat its 2023 performance, the last two days have tested that idea. [Rude awakening] We’ve had a clean breakout at $500, and are now 6% above that level. It could be “Up, up, and away!” again for this stock. AI Tickers are sticky. C3.ai (AI) sure picked a good ticker, then. Right now, the chart’s a mess. But that can change anytime. SMCI This stock could be the next NVDA. [Rude awakening] We’ve had a big breakout above $320. Let’s see if it’ll chase NVDA, the sector leader. AMD and ANET Both these stocks had big sell-offs and quick recoveries. PLTR Now, this is my stock pick for 2024. I based this on the “Cantillon Effect.” The Cantillon Effect is the concept of relative inflation or a disproportionate price rise among different goods in an economy. That is, if the government invests heavily in one area, that area’s prices will rise. From an earlier [Rude]( Richard Mayberry concentrates more on the fiscal side, but the results are the same. Mayberry notes that analysts and economists wrongly assume that the new money printed and the fiscal deficit spending are evenly distributed throughout the land. Nothing could be further from the truth. Instead, money is injected into specific locations, which he calls “cones.” Mayberry writes, "The best way to invest is to look where the government is putting money and invest there." To use his euphemism, they essentially “pour” the money into a city, a geographical area, or an industry. Because of the government largesse - just redistributed taxpayer funds - the stocks representing the companies receiving the subsidies, tax breaks, or straight investment will go up. That was his entire theory in a nutshell, and it's exquisite. The government will pour tons of money into these spying programs, and PLTR will be a huge beneficiary. But that hasn’t materialized yet. Zooming out, this is PLTR’s chart: [Rude awakening] We had a great pop to $14, and then to $20. But as Gunner says in the video, PLTR is in a “sloppy, wide-ranging consolidation pattern.” The stock is fine if it doesn’t fall below $14. But he’d wait for another entry point rather than here. Wrap Up Once you put your coffee down, head over to YouTube and [watch this video](. It’s the best free education you can get on charting. I love how Gunner makes it easy to follow him and his thinking. It’ll surely increase your expertise in deciphering stock charts. Good hunting! All the best, [Sean Ring] Sean Ring Editor, Rude Awakening X (formerly Twitter): [@seaniechaos]( In Case You Missed It… The 2024 Bull: Ignorance is Market Bliss. [Sean Ring] SEAN RING Allegedly, Mark Twain once said, “It ain't what you don't know that gets you into trouble. It's what you know for sure that just ain't so.” I, for one, am glad. The U.S.’s southern border isn’t a border. It’s not the Rio Grande. It’s not an “imaginary line.” It no longer exists. [The Federal Government is suing the State of Texas for trying to do something about it.]( [Hasidic Jews built basement temples in New York City during Covid]( and are now being arrested for it. [Protesters supporting the Palestinians blocked the main arteries into New York City.]( [Mark Cuban, a man who proves you don’t have to be smart to be rich, can’t tell DEI from discrimination]( and X is decimating him for it. [German farmers have essentially shut down Berlin over their subsidies]( being taken away. German truck drivers are joining in the fun. And while Joke Biden - or whoever’s running America at the moment - frets over the next move in a failed Ukraine War, [Pooty Poot has already moved tactical nuclear missiles into Belarus.]( How’s your Bingo card doing? At the risk of invoking the “No True Scotsman” fallacy, I posit that anyone looking at the world right now knows what a mess it is and should stay well away. But that would be a mistake of epic proportions. Because if you play it right, this year is the year you’ll get ahead in your investments, life plans, and goals. The Stock Market Santa Claus didn’t come for the stock market this year. And the first week of January was crap. But yesterday washed all the tears away. The below chart is an hourly chart for the entire year so far. You can see that it was all down until yesterday’s opening. But we took off in the SPX. The Nasdaq and the Russell 2000 made similar moves. This is positive and corroborative. [Chart] If we break the 5,000 mark swiftly, hitting 6,000 isn’t out of the question. THE WHY: You don’t want to be out of the market too much, especially when the government supports owning equity. VERDICT: Get long and stay long. Gold Since a sickly October, gold has been up nearly $200 per ounce. [Chart] Yesterday, gold bounced off its 50-day moving average and rebounded to 2,033.50. We might hit $1,980 (roughly the 200-day moving average) before we resume our upside move towards $3,000. After that, we head to $2,340. THE WHY: Surely Jay Powell will give Joke Biden a hand during the election campaign. Rate cuts will goose the price of gold. VERDICT: Hold, if you got it. Buy, if you don’t. [New Biden Bucks Follow-Up Available Now]( Since posting the original Biden Bucks presentation online, millions of people have viewed it. Snopes and the Associated Press have even attempted to “fact check” and claim some warnings are false: Point being, the message has raised a storm and caused a lot of controversy. But in the time between the message and now, a lot of new developments have come to light. That’s why an update to the original prediction was just released… one which will likely be even more controversial. [>> Click here now to access the Biden Bucks follow-up](. [Click Here To Learn More]( Silver Silver also hasn’t sparkled yet. That’s fine. [Chart] The gold “fear” trade hasn’t taken off yet. The silver “greed” trade will take off once gold’s fear trade is in full force. THE WHY: Silver should rally hard once gold starts toward $2,340. The upside target is only $26.50 for now. But once this is passed, the following targets are $32.00 and then $50.00. If you own the miners, all the better. VERDICT: Hold, if you’ve got it. Buy, if you don’t. Crypto I’m only showing the Bitcoin chart, but I’m full crypto bullish. [Chart] This is going nowhere but up for now. The following price target is $55,500. After that, it should reach its all-time high of around $62,000. THE WHY: BTC, along with Ether and the rest of the alt-coins, will pop once the Fed commits to another round of easing. And with the national debt going from $33T to $34T in a month, the Fed must ease. VERDICT: Get long and stay long. The USD [Chart] I often wonder why anyone would want to own EUR, GBP, or JPY. And yet, the USD, though it started the year well, has been sold since October. The USD is the key. If it continues downward, you’ll need more of them to buy USD stocks. Stock, gold, silver, and crypto will all go up. Next Steps If I were you, I’d hold my stock portfolio steady. If you have some dogs in there, judiciously sell them. But don’t go to cash yet. If you own gold, silver, and crypto, “diamond hands” is the call. We may see a bit of a downturn, but that’s all it’ll be—just a quick correction. The risk is still to the upside. If you’re new to crypto, start reading my colleagues James Altucher and Chris Campbell. I learned loads from them, and you will, too. Wrap Up If you’re new to the Rude, you may wonder why I’m bullish. I was a permabear for years, and it got me nowhere. But the real reason now is that the real economy bears no resemblance to the stock market. And for as long as it remains that way, feel free to be a bull. Headlines will kill your trading strategy. Be positively inhuman when you’re reading them. Be rich. Don’t be right. All the best, [Sean Ring] Sean Ring Editor, Rude Awakening Twitter: [@seaniechaos]( [Paradigm]( ☰ ⊗ [ARCHIVE]( [ABOUT]( [Contact Us]( © 2024 Paradigm Press, LLC. 1001 Cathedral Street, Baltimore, MD 21201. By submitting your email address, you consent to Paradigm Press, LLC. delivering daily email issues and advertisements. 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