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Created on: 8/14/2019 5:48:24 PM Last Update: 8/14/2019 6:39:35 PM Posted by: RTT WARNING: This entry is 570 days old. It may contain broken links, out-dated or misleading content. Please read on with caution.
1 POST
Bitcoin 2019 fractal with Gold 2013
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Funny how price action patterns repeat, double tops, head and shoulders. These are simply market fractals of supply and demand.
More from RTT Tv
Ref: US Crypto Holders Only Have a Few Days to Reply to the IRS 6173 Letter
Today's news from the US IRS has been blamed for the recent price slump, yet the bitcoin fractal like the gold fractal suggest the market players have set bitcoin up for a slump to $9000 USD long before the IRS news hit the wire.
Get the impression some market players missed out on the bitcoin rally from $4000 to $14000 and now welcome (planned for) bearish news to create a price slump to be able to accumulate bitcoin at a very good discount. Still reluctant to believe this market strategy, then please review the gold chart from 2011 to 2019, it goes like this: market top, slump, 6 years of consolidation (accumulation), now 2019 price breakout. Looks like bitcoin is going to suffer the same game play as gold, sure it may not be 6 years, but possibly 6 months. We watch and wait.
Chart in the video.
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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.
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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...
..“The game of speculation is the most uniformly fascinating game in the world. But it is not a game for the stupid, the mentally lazy, the person of inferior emotional balance, or the get-rich-quick adventurer. They will die poor.”...
Jesse Livermore
..“Don’t try to buy at the bottom and sell at the top. It can’t be done except by liars.”..
Bernard Baruch
..“Bull markets are born on pessimism, grow on scepticism, mature on optimism and die of euphoria.”..
John Templeton
..“Successful speculation requires staying on top of changes in industries and companies that either create new industries or improve on existing industries. The majority of your profits will come from these two … The shrewdest traders throughout history all adapted the skill of reactionary change, as the market constantly presents new and different opportunities.”..
Bernard Baruch
..“The key to successful investing is having everyone agree with you — LATER.”..
Jim Grant
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