Google site search Follow readtheticker on LindedIn YouTube StockTwits Follow readtheticker on Twitter
Blog ReLoad |Titles List |Media Only |Media Titles List |Market News |RSS RSS |ATOM Atom |EmailDelivery Email Delivery |Mobile
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 1050 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


Click for popup. Clear your browser cache if image is not showing.
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. 


Click for popup. Clear your browser cache if image is not showing.
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.


Click for popup. Clear your browser cache if image is not showing.
DXY








Divider




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. This post is a delayed and small sample of what is avaliable to members. Sign up to enjoy the full service.


Support this work by buying us a hot drink by CLICKING HERE. If you would like make greater contribution, please make a donation by CLICKING HERE

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...

.."Without specific, clear, and tested rules, speculators do not have any real chance of success"..

Jesse Livermore


..“Bull markets are born on pessimism, grow on scepticism, mature on optimism and die of euphoria.”..

John Templeton


..“It’s not what you own that will send you bust but what you owe.”..

Anon


..“The key to successful investing is having everyone agree with you — LATER.”..

Jim Grant

.."The problem with socialism is that you eventually run out of other peoples' money"..


Margaret Thatcher




         >> Print or PopOut or Pdf .
         >> Go Back

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



Search Blog Titles:
Search Blog for Text:
Search Blog for Ticker Symbol:

Or 'Click Me' to search this site with Google
What works in the market.
Wyckoff price road map.
Which time frame works best.

Pages
1. Blog Performance Review
2. List of the best blog posts

MostRecent
Fed panic signal to watch for
Gold stocks ready to move
Long term bond games will send investors into gold
2024 soft landing working it
Market moving macro in 2024

Ney(1)
Crypto Currency(29)
Central Banks(17)
Crisis Watch(9)
Wyckoff(4)
Cycles(5)
Gann(13)
Chart Review(17)
Browsing(120)
RTT TV(15)
Sector Watch(30)
RTT Tools(43)
Wyckoff 2.0(42)
Mystery Trader(6)
Market Strategy(73)
Cycle Review(75)
Swing Trade Idea(48)
Market Calls(23)
Investors(105)
News(7)
Bonds(20)
Metals and Forex(165)
Gann Wyckoff Hurst(119)
Wall Street(25)
Ticker Review(35)
Uncategorized(2)
Market Review(96)
Jokes(28)
Economic(95)

202404(1)
202403(1)
202402(1)
202401(2)
202312(1)
202311(1)
202310(2)
202309(3)
202308(3)
202307(2)
202306(3)
202305(3)
202304(4)
202303(2)
202302(4)
202301(3)
202212(4)
202211(3)
202210(5)
202209(3)
202208(4)
202207(4)
202206(3)
202205(5)
202204(3)
202203(3)
202202(2)
202201(4)
202112(5)
202111(4)
202110(3)
202109(5)
202108(5)
202107(8)
202106(9)
202105(7)
202104(4)
202103(7)
202102(6)
202101(8)
202012(3)
202011(5)
202010(3)
202009(4)
202008(4)
202007(4)
202006(3)
202005(5)
202004(4)
202003(10)
202002(5)
202001(5)
201912(5)
201911(5)
201910(7)
201909(5)
201908(4)
201907(5)
201906(5)
201905(7)
201904(5)
201903(8)
201902(5)
201901(6)
201812(4)
201811(5)
201810(7)
201809(4)
201808(6)
201807(5)


 

RSS RSS

ATOM Atom

EmailDelivery Email Delivery

  Blog Links
Marker TalkMarkets
Marker PhilStockWorld
Marker FinancialSurvivalNetwork
Marker Yardeni Research
Marker TradingEconomics
Marker dshort.com
Marker Marketoracle.co.uk
Marker Bloomberg.com
Marker McverryReport.com
Marker Calafia Beach Pundit
Marker ForexLive
Marker TurnaroundStockinvesting.com
Marker readtheticker tumblr
Marker readtheticker blogger
  Symbols used in blog
AAPL AMZN AORD AUY BB BTC COP DJI DOW DXY ETH EUR FB FXE FXY GDX GDXJ GLD GOOG HL HMY HUI INDU JJC LTC MCD NCM NEM NFLX OIL PALL QQQ RGLD SLV SPY SSRM TLT TNX TRAN TYX URG UTIL VIX XAU XLE XLU


Follow readtheticker on LindedIn

Seeking Alpha Certified





Contributor to...
McVerry Report


StockTwits








Home | Charts & Tutorials | Market Timing | Blog | RTT Tv | Services | Information & FAQ | Contact Us | Sign Up | Logon
Indicator Library | FAQ | Site Search | Symbols Available | Education | Advisors | General Policy | Privacy Policy | Terms Of Use | About Us
Tutorials | Charts Demo | Charts Members | Charts Secured | Mobile Site | Market News | Investment Quotes | World Time .
Public Disclaimer