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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
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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.
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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.
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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
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