Bitcoin chart review, here we go again!
Created on: 10/11/2020 2:58:17 AM Last Update: 10/11/2020 1:24:30 PM Posted by: RTT
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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.
Chart 2: Big point. Notice how open interest has a lot of room to move before prices reflect a top is near.
Chart 3: Bitcoin to $100,000 by 2021 is a little extreme for this blog.
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...
...“After spending many years in Wall Street and after making and losing millions of dollars, I want to tell you this: It never was my thinking that made the big money for me. It was always my sitting. Got that? My sitting tight!”...
Jesse Livermore
.."Fundamentals might be good for the first third or first 50 or 60 percent of a move, but the last third of a great bull market is typically a blow-off, whereas the mania runs wild and prices go parabolic... There is no training, classroom or otherwise, that can prepare for trading the last third of a move, whether it's the end of a bull market or the end of a bear market."...
Paul Tudor Jones
.."If past history was all there was to the game, the richest people would be librarians"..
Warren Buffett
.....“I measure what's going on, and I adapt to it. I try to get my ego out of the way. The market is smarter than I am so I bend.”..
Martin Zweig
Unless you can watch your stock holding decline by 50 per cent without becoming panic stricken, you should not be in the stock market.
Warren Buffett
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