CHAOS CLINIC RECAP





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      Crypto Currency Chaos
      Chaos Clinic for 5/6/2022
     
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Crypto currencies have been all the rage over the past two years. But they may
be reaching some natural limits.

For starts, as seen by the top chart of the NYSE Bitcoin Index (NYXBT), they have formed
a clear Chaos Clamshell of 7 moves. Note on the chart this Chaos Clamshell has
moved 7 natural vibration levels, shown by the horizontal lines. After
basicall trading in a 1 vibration range from 2017 to late 2020, NYXBT shot up
six levels, and has now pulled back three. Time wise, this CC took one fifth of a
Jupiter-Saturn (JS) cycle.

Not only do crypto currencies form chaotic patterns in prices, but they also are
capable of creating massive damage to our planet. This is because of a fundamental
flaw in the way they work. Each additional bitcoin transaction requires more and
more electricity. Over time, this could consume all the world's electricity.
The bottom chart is from Cambridge University, showing an estimate of energy usage
for bitcoin transactions, comparing it to total energy used by several countries.
The upper estimate is that bitcoin mining could be using as much energy as the
entire country of Spain! And the usage keeps growing! Currently, one
bitcoin transaction takes 2258 kilowatt hours of electricity, compared to just
148 kWh for 100,000 Visa transactions. (see links below)

The reason for this is simple. Bitcoins are nothing but an encrypted public computer file.
This file is a ledger of who paid a bitcoin to whom. But unlike your checking account,
this record is not updated by your bank. There is no central banker. The ledger of transactions
can be updated by anyone who can break the security code of the ledger, and add a transaction to it.
This creates a competitive race between "miners" to break the code so they can add the next
transaction. As the ledger gets longer and longer, this requires more and more computer power,
requiring more and more electricity. It simply adds to our global warming crisis.

I will not deal in crypto because I do not feel it is responsible to do so. I strongly urge
you to inform yourself about how crypto works. Here are two links to explore:

https://www.statista.com/statistics/881541/bitcoin-energy-consumption-transaction-comparison-visa/

https://www.nytimes.com/interactive/2021/09/03/climate/bitcoin-carbon-footprint-electricity.html

For more on my work and to subscribe to Tomorrow's Market Email Hotline and access to daytradingforecasts.com see
Moneytide.com
Software to plot electric field flux lines in NinjaTrader is available at
energyfieldtrading.com



Below is one of the SPKISS charts from daytradingforecasts.com
and the chat room comments from this Chaos Clinic. Most recent comment is on top.



5/6/2022 12:15:23 PM MT Al****:: back briefly before another appointment
note that waiting for MoonTide trade #1 was good; nice sell setup
440,220,110 EXMAs down, 20/110 sell
possible carry through on next trade time
good luck
5/6/2022 7:38:21 AM MT Al****:: I have to leave now for a medical appointment. Enjoy the site. Charts 3, 4, and 5 on SPKISS page show a down trend.
5/6/2022 6:36:14 AM MT Al****:: Good Morning visitors. Welcome to the Chaos Clinic. The written Chaos Clinic is on the AUX page.

This site has a lot of charts,
so you may find it useful to have several of them available within your
browser. If you have a tabbed browser, you can open separate charts
in separate tabs by right clicking on any link, and selecting "open in new tab"
from the menu. The main list of site pages is at
http://daytradingforecasts.com/chartlistsec.asp
Recommended pages to watch are SPKISS, MTRainbow, and Chat.
For astro stuff, add SPSunMoon, Wheel, and Chaos Clinic.
A special set of Dr. Al's research charts are on the Secret page.

Comments in the chat room are announced by a
"duck call" noise. This noise also occurs when the software detects a
resonant hex pattern on the Wheel page. MoonTide trading tutorials
are on the right side of the ListOfCharts page. One should
read Trading the MoonTide Tutorial and Keep it Simple as a minimum.

Many subscribers do not strictly trade the MoonTides, but use the charts on this
site as input to their own trading strategies. For example, charts 5 and 6 on the
SPKiss page are a good starting point for swing traders.

Also on this site is the Certified Chaos Trader's Room. That room is open
to graduates of my 4 main courses. See http://moneytide.com -> Courses for details.

9:00 Eastern-System: No comments


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