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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 512 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
bitcoin-to-200000-review--updateLet 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


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1



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 2





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.


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DXY








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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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Investing Quote...

..."In the long run commodity prices are governed by one law – the economic law of demand and supply"..

Jesse Livermore


.."If you tell the truth, you don't have to remember anything."...


Mark Twain 

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


Ayn Rand

.."Money can't buy you happiness but it does bring you a more pleasant form of misery"..

Spike Milligan


...“People somehow think you must buy at the bottom and sell at the top to be successful in the market. That’s nonsense! The idea is to buy when the probability is greatest that the market is going to advance”...

Martin Zweig (The inspiration behind a number of Martin Zweig’s methods came, from Jesse Livermore).




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