|
|
|
|
Created on: 7/3/2021 2:44:59 PM Last Update: 7/3/2021 8:37:45 PM Posted by: RTT
WARNING: This entry is 813 days old. It may contain broken links, out-dated or misleading content. Please read on with caution.
1 POST
Bitcoin to $200,000 Review - Update
|
 Let us review our previous post from a few weeks back.
Previous Post Bitcoin to $200,000 Review
Well so far Bitcoin has found support, proving demand is present, price is contained within the red channel lines.
The sharp drop is most likely the miners (say the Chinese) selling all there mined coin stock to new hands (say the western financial institutions) on the back of FUD created by Elon Musk with an assist from another ban by Chinese authorities.
POINT: Isn't Elon Musk involved with Crypto mining, hmm, then no wonder the FUD!
This blog believes the transfer of mining dominance away from China to more US investor friendly zones opens the door to large monies from US institution investors. We have yet to see a true financial institution lead crypto bull market, and you can bet they want their turn in the sand box.
Chart 1 - Price holds in the channel, huge support at $30,000
Click for popup. Clear your browser cache if image is not showing.
Chart 2 - If the 2021 correction is a time mirror of 2013, then July to August 2021 should be strong demand months for Bitcoin.
Click for popup. Clear your browser cache if image is not showing.
Chart 3 - Of course a strong Bitcoin trend requires US dollar weakness, and there seems to be more to go on the downside as per the short term cycle below.
Click for popup. Clear your browser cache if image is not showing.
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.
This post is a delayed and small sample of what is avaliable to members. Sign up to enjoy the full service.
Support this work by buying us a hot drink by CLICKING HERE. If you would like make greater contribution, please make a donation by CLICKING HERE
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...
..“The power to determine the trend of the market is due to my knowledge of the characteristics of each individual stock and a certain grouping of different stocks under their proper rates of vibration. Stocks are like electrons, atoms and molecules, which hold persistently to their own individuality in response to the fundamental Law Of Vibration"…."After exhaustive researches and investigations of the known sciences, I discovered that the Law Of Vibration enabled me to accurately determine the exact points to which stocks or commodities should rise and fall within a given time. The working out of this law determines the cause and predicts the effect long before the Street is aware of either”..
William D Gann
.."Wall Street is the only place that people ride to in a Rolls Royce to get advice from those who take the subway"..
Warren Buffett
..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
.."The first rule is not to lose. The second rule is not to forget the first rule"
Warren Buffett
.."The key to making money in stocks is not to get scared out of them"
Peter Lynch
|
|
|
|
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
|
|
 | Pages |
| | 1. Blog Performance Review |
| | 2. List of the best blog posts |
| MostRecent |
|  | US GDP recovery |
| | Japanese Yen Cycle Review |
| | Global M2 effect on Gold |
| | Crude Oil near $300 plus |
|  | Bitcoin Time Map |
 | Ney(1) |
 | | US Dollar with Ney and Gann Angles |
 | Crypto Currency(27) |
| Central Banks(16) |
| Crisis Watch(9) |
| Wyckoff(4) |
| Cycles(5) |
| Gann(13) |
| Chart Review(17) |
| Browsing(120) |
| RTT TV(15) |
| Sector Watch(28) |
| RTT Tools(43) |
| Wyckoff 2.0(42) |
| Mystery Trader(6) |
| | Elliot Wave within Wyckoff Logic |
| Market Strategy(72) |
| Cycle Review(73) |
| Swing Trade Idea(48) |
| Market Calls(23) |
| Investors(105) |
| | Hidden Pivot Point and Wyckoff logic |
| News(7) |
| Bonds(19) |
| Metals and Forex(165) |
| Gann Wyckoff Hurst(119) |
| Wall Street(25) |
| Ticker Review(35) |
| Uncategorized(2) |
| | Bitcoin Chart Review |
| Market Review(96) |
| Jokes(28) |
 | Economic(94) |
| | US GDP recovery |
| | US tax receipts hurting the dollar |
| | Stagflation now, as deflation risks grow |
| | Love of property investment will die |
| | Money supply crash will force a sharp FED reaction |
| | Powell has a debt problem |
| | Powell doing a Volker to crush inflation, yeah right! |
| | Bubble Watch - Maybe it only just started, Dow 50000 - Update 1 (RTT Plus) |
| | Bubble Watch - Maybe it only just started, Dow 50000 (RTT Plus) |
| | US is bound by these economic rules (RTT Plus) |
| | Dow Jones Utility index could trade like the FANGs |
| | Funds are getting ready to move out of USA |
| | US Economic Review 2019Q4 |
| | Bond Market, Houston we have a problem! |
| 202309(2) |
| 202308(3) |
| 202307(2) |
| 202306(3) |
| 202305(3) |
| 202304(4) |
| 202303(2) |
| 202302(4) |
| 202301(3) |
| 202212(4) |
| 202211(3) |
| 202210(5) |
| 202209(3) |
| 202208(4) |
| 202207(4) |
| 202206(3) |
| 202205(5) |
| 202204(3) |
| 202203(3) |
| 202202(2) |
| 202201(4) |
| 202112(5) |
| 202111(4) |
| 202110(3) |
| 202109(5) |
| 202108(5) |
| 202107(8) |
| 202106(9) |
| 202105(7) |
| 202104(4) |
| 202103(7) |
| 202102(6) |
| 202101(8) |
| 202012(3) |
| 202011(5) |
| 202010(3) |
| 202009(4) |
| 202008(4) |
| 202007(4) |
| 202006(3) |
| 202005(5) |
| 202004(4) |
| 202003(10) |
| 202002(5) |
| 202001(5) |
| 201912(5) |
| 201911(5) |
| 201910(7) |
| 201909(5) |
| 201908(4) |
| 201907(5) |
| 201906(5) |
| 201905(7) |
| 201904(5) |
| 201903(8) |
| 201902(5) |
| 201901(6) |
| 201812(4) |
| 201811(5) |
| 201810(7) |
| 201809(4) |
| 201808(6) |
| 201807(5) |
| 201806(4) |
| 201805(7) |
| | The Power of Momentum (for Wyckoff) |
| | Wide Market Cycle Review |
| | SP500 Cycle Review |
 RSS
Atom
FeedBurner| Email Delivery
Blog Links
Symbols used in blog
AAPL AMZN AORD AUY BB BTC COP DIA DJI DXY ETH EUR FB FXE FXY GDX GDXJ GLD GOOG HL HMY HPR HUI INDU JJC LTC MCD NCM NEM NFLX OIL PALL QQQ RGLD SLV SPY SSRM TLT TNX TRAN TYX UAN URG UTIL VIX XAU XLE XLU
|