Bitcoin chart review, here we go again!
Created on: 10/11/2020 2:58:17 AM
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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...
.."[Point and] figure charts are more valuable than vertical [bar] charts"..
Richard D Wyckoff
.."The first rule is not to lose. The second rule is not to forget the first rule"
Warren Buffett
.."When I bet big .. I have a mind to own a position for years .. Yet you must have a ruthless objectiveness and open mindedness as to when the facts change to exit the position, if so within hours or days .. I have not used a stop loss in 40 years"..
Stanley Druckenmiller
..“Investing should be like watching paint dry or watching grass grow. If you want excitement…go to Las Vegas.”...
Paul Samuelson
..“How many millionaires do you know who have become wealthy by investing in savings accounts?”..
Robert G Allen
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