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Created on: 10/11/2020 2:58:17 AM Last Update: 10/11/2020 1:24:30 PM Posted by: RTT
1 POST
Bitcoin chart review, here we go again!
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 Bitcoin has charged to the moon 4 times, well it looks like we going for a 5th. Bitcoin having 52 week new highs will bring the 'Robin Hoods' into the game.
This time may not be 10x, but 1x or 2x is still very nice thank you!
Chart 1: Accumulation is present, this alone suggest higher prices. In this blog view a typical risk on period is required to allow crypto's to rally (that is SP500 and oil up with the US dollar down), and this may arrive during the US election chaos.
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Chart 2: Big point. Notice how open interest has a lot of room to move before prices reflect a top is near.
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Chart 3: Bitcoin to $100,000 by 2021 is a little extreme for this blog.
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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.
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...
.."Money cannot consistently be made trading every day or every week during the year"..
Jesse Livermore Trading Rule
..“Don’t try to buy at the bottom and sell at the top. It can’t be done except by liars.”..
Bernard Baruch
..."This [Federal Reserve Act] establishes the most gigantic trust on earth. When the President Woodrow Wilson signs this bill, the invisible government of the monetary power will be legalized....the worst legislative crime of the ages is perpetrated by this banking and currency bill."...
Charles August Lindbergh Snr
..“If it’s obvious, it’s obviously wrong.”..
Joe Granville
In the short run, the market is a voting machine, but in the long run it is a weighing machine.
Benjamin Graham
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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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