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Created on: 7/24/2019 8:33:28 PM Last Update: 7/25/2019 11:49:21 PM Posted by: RTT
WARNING: This entry is 591 days old. It may contain broken links, out-dated or misleading content. Please read on with caution.
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Bitcoin Wyckoff Accumulation Pattern
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 Many see a US recession in the first half of the 2020 decade. The first half of many previous decades suffered a recession, it is normal. But this time it may be different, well kinda different bad!
A reminder of US recessions in a first half of a decade: 1953, 1961, 1970-73, 1980-82, 1991, 2001-2002
Of course the 2007 to 2009 GFC was just short of a new decade. Yet the reader can see the trend of recessions in the first half of a decade is established, and not unusual.
Recession indicators are all over the web.
Click for popup. Clear your browser cache if image is not showing.
Yes, there is another one coming. The US and German 10 year interest rates signal this very clearly.
A recession is a lit match of asset price deflation, but what it will set fire to has yet to determined.
Possible names for the crisis lit by a recession in early 20XX ?
- Corporate Bond Debt Crisis of 20XX - US Pension Crisis of 20XX - The Great China Debt Implosion of 20XX - We are all European Now. The world of negative interest rates. - The Great Sovereign Bond Crisis of 20XX - The Passive Investing Crash of 20XX - The Great Liquidity Crisis of 20XX - The Leverage Loan Crash of 20XX [Or all of the above]
We know from the recent crisis of 2008 these things can happen:
- change in accounting rules - printing money - debase of currency - create bad banks - freeze bank accounts - execute bank bail ins - spreads explode - fund redemption freeze - bank holidays - the world plunges further into a negative interest debt mess - On and on!
On a US (or World) recession, Bitcoin (and its sister Litecoin) will attract scared money, and it will not take a lot of scared money to get bitcoin to double from current levels. Of course if bitcoin attracts scared money so will silver, gold and the US dollar.
Here are some price charts showing bitcoins current situation.
Accumulation looks good so far.
Click for popup. Clear your browser cache if image is not showing.
Is it crazy for a single bitcoin to be worth $40,000+ USD, that depends, consider this, Jason Pollock No 16 sold for $32M (Nov 12 2016). Perceptions change. If the market decides, the market decides.
Pollock No 16 Painting below, $32.6 M smackers ... really!
Price working through parallel channels
Click for popup. Clear your browser cache if image is not showing.
Major Channels View: Green aggressive. Red moderate.
Click for popup. Clear your browser cache if image is not showing.
Bitcoin is here to stay.
Litecoin Log Chart, Parallel Charts supporting price action
Click for popup. Clear your browser cache if image is not showing.
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.
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 Tape Reader’s profits should develop naturally. He should buy or sell because it is the thing to do – not because he wants to make a profit or fears to make a loss”…
Richard D. Wyckoff
.."Look at market fluctuations as your friend rather than your enemy; profit from folly rather than participate in it"..
Warren Buffett
Investing should be more like watching paint dry or watching grass grow. If you want excitement, take $800 and go to Las Vegas.
Nobel Laureate for Economics Paul Samuelson
..“Investing should be like watching paint dry or watching grass grow. If you want excitement…go to Las Vegas.”...
Paul Samuelson
..“If a speculator is correct half of the time, he is hitting a good average. Even being right 3 or 4 times out of 10 should yield a person a fortune if he has the sense to cut his losses quickly on the ventures where he is wrong.”..
Bernard Baruch
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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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