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Created on: 5/21/2021 8:03:09 PM Last Update: 5/21/2021 8:29:21 PM Posted by: RTT
WARNING: This entry is 737 days old. It may contain broken links, out-dated or misleading content. Please read on with caution.
1 POST
Bitcoin Gann Angle Forecast
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 This is why crypto was hit, and the whales new it was coming.
Here is the crypto FUD (FUD is fear, uncertainty and doubt, FOMO is fear of missing out) from this week, just prior before the 50% smash in Bitcoin:
via ..
@TheCryptoLark
In the last week
- Elon FUD
- China FUD
- Binance FUD
- OCC FUD
All at the same time.
There is a coordinated effort to shake you out.
One day the market will say 'put up or shut up', and jawboning FUD will not mean anything at all.
But why jawbone all this FUD at all, well they can not do anything else:
- Raise rates, NOPE
- Withdraw surplus cash, NOPE
- Raise the dollar, HELL NO!
Why?
Bitcoin had to be attacked, because the exponential rise in Bitcoin price signaled to the uniformed masses of the world, these nasty things are going to effect your wealth:
- MONEY PRINTING
- INFLATION
- DEBT
- NO END IN SIGHT
- And soon PANIC.
Bitcoin is the western economies Zimbabwe style hyper inflationary stock market.
Did the FUD do the trick?
Of course not, all it did was transfer crypto from the weak (highly leveraged) hands to the strong hands (large balance sheets), and this time around it is your local banker (JPM, BAC, C, WF) . New US regulations allow your bank to hold crypto on your behalf, so when you next log onto your internet banking account, you will see checking, savings and crypto assets held by the bank for you. Of course to offer this new service bankers first must accumulate sufficient crypto stock, at a discount. Well mission accomplished, Bitcoin is now at a 30% to 50% discount.
Some charts.
Chart 1 (Weekly) - Continuation selling climax spikes are common in a BTC uptrend. After each spike it takes a week or two to confirm demand is present in the chart.
Click for popup. Clear your browser cache if image is not showing.
Chart 2 - Gann Angle and T Theory Time study. Bitcoin is the fastest moving price unit per time unit ever. This is why the Gann Angle 1x1 chart is narrow and very tall.
Gann Angles starting from the Mt Gox High. The Gann Angle 1x1 picked the 2017 high, and so far its picked the high in 2021 with the 1x2, but is it the final high for this bull cycle, who knows (see video below), the next Gann 1x4 Angle forecast high is $110,000 or so.
Hat tip to Cliff High.
Cliff High back in 2017 (Half Past Human Report) picked a 1929 bust like event for Bitcoin during May 2021 near $65,000 USD. Check that off, web bot report hit!
Cliff also picked that in the same year of the above 1929 bust event, Bitcoin may experience $100,000 USD celebration parties. Will that happen? Who knows. But did you notice that both the price targets mention by Cliff fit nicely within Gann Angle price targets drawn from the Mt Gox high. Hmmm!
Time will tell. Nothing is 100% ever.
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...
.."After years of patient study I have proven to my entire satisfaction as well as demonstrated to others that vibration explains every possible phase and condition of the market."..
William D Gann
..The time of maximum pessimism is the best time to buy and the time of maximum optimism is the best time to sell"..
John Templeton
.."Just because you’re taught that something’s right and everyone believes it’s right, it don’t make it right."..
Mark Twain
..."If you don't read the newspaper, you're uninformed. If you read the newspaper, you're mis-informed."...
Mark Twain
.."We are fast approaching the stage of the ultimate inversion: the stage where the government is free to do anything it pleases, while the citizens may act only by permission"..
Ayn Rand
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