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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 1381 days old. It may contain broken links, out-dated or misleading content. Please read on with caution.

1 POST The Coming Bitcoin Ambush
the-coming-bitcoin-ambushIf 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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BTC1



A zoom into the zone of decision. 

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BTC1




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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. This post is a delayed and small sample of what is avaliable to members. Sign up to enjoy the full service.


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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...

.."Success in trading means excess of profits over losses. If anyone tells you they can almost be invariably successful, put him down as trying to impose on your credulity."..

Richard D Wyckoff


.."It is better to keep your mouth closed and let people think you are a fool than to open it and remove all doubt."..


Mark Twain

.."man exists for the achievement of his desires"..


Ayn Rand

.."A market is the combined behavior of thousands of people responding to information, misinformation and whim"..

Kenneth Chang


.."October: This is one of the peculiarly dangerous months to speculate in stocks. The others are July, January, September, April, November, May, March, June, December, August and February."..

Mark Twain




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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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