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Created on: 2/25/2019 11:55:56 PM Last Update: 3/1/2019 7:51:55 PM Posted by: RTT
WARNING: This entry is 2033 days old. It may contain broken links, out-dated or misleading content. Please read on with caution.
1 POST
The Coming Bitcoin Ambush
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 If you are accurate drawing your trading channels you will see this ambush setup on bitcoin.
All charts of bitcoin are in USD terms.
The big boys (and some late to the party) want to accumulate hard to get coins, therefore the only way they can do this is scare them out of the weak hand wallets. Those who bought above $1000 on the way up to $20000. Of course (and lets hope for the bulls) the big boys do not want to break the chart completely and force a panic sell off beyond critical levels of massive support (say BTC $1000 USD).
Therefore this most recent pop from $3000 to $4300, we believe, is a bull trap, higher prices to build up shorts and bull disappointment to get price down below $2700 USD. Price nearly always falls down through support from a run down from resistance. Lets face it, bitcoin is thin, it can be pushed around 20% with ease.
A sell off which holds above $1000 is still very bullish. If you are a Elliot Waver, you can see there is more waves to unwind down below $3000 as the selling is not done.
The big channels chart of Bitcoin USD. (Note: Readtheticker draws and holds over time channel objects with ease and great accuracy.)
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A zoom into the zone of decision.
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NOTE: Posts here are the lite version, more depth on each subject can be found via our RTT Plus membership.
Changes in the world is the source of all market moves, to catch and ride the change we believe a combination
of Gann Angles,
Cycles,
Wyckoff and
Ney logic
is the best way to ride the change, after all these methods have been used successfully for 70+ years.
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NOTE: readtheticker.com does allow users to load objects and text on charts, however some annotations are by a free third party image tool named Paint.net
Investing Quote...
.."Your goals are to select only stocks that move soonest, fastest and farthest in bull or bear markets. Limited losses and let profits run."..
Richard D Wyckoff
..“One must search through a maze of complex and contradictory details to get to the significant facts … Then he must be able to operate coldly, clearly, and skilfully on the basis of those facts.” The challenge for the successful speculator is “how to disentangle the cold hard facts from the rather warm feelings of the people dealing with the facts.” Moreover, “if you get all the facts, your judgment can be right; if you don’t get all the facts, it can’t be right”...
Bernard Baruch
.."Just because you’re taught that something’s right and everyone believes it’s right, it don’t make it right."..
Mark Twain
.."If past history was all there was to the game, the richest people would be librarians"..
Warren Buffett
After a question on how to become a better investor professional Mr Munger responded, ..“Read history, read history, read history."..
Charlie Munger
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We at readtheticker.com hold the view that a mix of stock chart technical analysis, Richard Wyckoff, William Gann and Jim Hurst methods plus market fundamentals allows the investor to formulate a very sound market opinion. These attributes are mutually inclusive and must be weighted equally before investing or trading in any Stock, ETF, Currency, Bond, Commodity, CFD or Mutual Fund
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