Bones of tortured prisoners. Kolyma Gulag, USSR (Nikolai Nikitin, Tass). (NA)   NOTE: This post largely reprints last year’s Victims of Communism Day post, with some modifications. Today is May Day. Since 2007, I have advocated using this date as an international Victims of Communism Day. I outlined the rationale for this proposal (which was not my original idea) in my very first post on the subject: May Day began as a holiday for socialists and labor union activists, not just communists. But over time, the date was taken over by the Soviet Union and other communist regimes and used as…

Key points:Bitcoin will have to flip the $80,000 level into support to continue its up move to $84,000.Several major altcoins are finding buyers at lower levels, but they will have to overcome the overhead resistance to start a new up move.Bitcoin (BTC) has risen above $78,000, extending upon its 11.87% rally in April, per CoinGlass data. The recovery in April was supported by solid buying in the US spot BTC exchange-traded funds, which saw $1.97 billion in inflows, according to SoSoValue data.The rally is expected to encounter selling in the zone between the True Market Mean at $78,000 and the…

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