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Bitcoin Wyckoff Accumulation Pattern

Courtesy of Read the Ticker.

bitcoin-wyckoff-accumulation-patternMany see a US recession in the first half of the 2020 decade. The first half of many previous decades suffered a recession, it is normal. But this time it may be different, well kinda different bad!



A reminder of US recessions in a first half of a decade: 1953, 1961, 1970-73, 1980-82, 1991, 2001-2002



Of course the 2007 to 2009 GFC was just short of a new decade. Yet the reader can see the trend of recessions in the first half of a decade is established, and not unusual. 



Recession indicators are all over the web.



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US Recession




Yes, there is another one coming. The US and German 10 year interest rates signal this very clearly.



A recession is a lit match of asset price deflation, but what it will set fire to has yet to determined. 



Possible names for the crisis lit by a recession in early 20XX ?



- Corporate Bond Debt Crisis of 20XX

- US Pension Crisis of 20XX

- The Great China Debt Implosion of 20XX

- We are all European Now. The world of negative interest rates. 

- The Great Sovereign Bond Crisis of 20XX

- The Passive Investing Crash of 20XX

- The Great Liquidity Crisis of 20XX

- The Leverage Loan Crash of 20XX

[Or all of the above]


We know from the recent crisis of 2008 these things can happen:



- change in accounting rules

- printing money

- debase of currency

- create bad banks

- freeze bank accounts

- execute bank bail ins

- spreads explode

- fund redemption freeze

- bank holidays

- the world plunges further into a negative interest debt mess

- On and on!


On a US (or World) recession,  Bitcoin (and its sister Litecoin) will attract scared money, and it will not take a lot of scared money to get bitcoin to double from current levels. Of course if bitcoin attracts scared money so will silver, gold and the US dollar.  



Here are some price charts showing bitcoins current situation.



Accumulation looks good so far.





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Wyckoff Bitcoin




Is it crazy for a single bitcoin to be worth $40,000+ USD, that depends, consider this, Jason Pollock No 16 sold for $32M (Nov 12 2016). Perceptions change. If the market decides, the market decides.



Pollock No 16 Painting below, $32.6 M smackers … really!





Pollock Jason No 16




Price working through parallel channels





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BTC Channel




Major Channels View: Green aggressive. Red moderate.



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BTC channel parallel




Bitcoin is here to stay.



Litecoin Log Chart, Parallel Charts supporting price action





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LTC channels







Fundamentals are important, and so is market timing, here at readtheticker.com we believe a combination
of Gann Angles,
Cycles,
Wyckoff and
Ney logic
is the best way to secure better timing than most, after all these methods have been used successfully for 70+ years. To help you applying Richard Wyckoff and Richard Ney logic
a wealth of knowledge is available via our RTT Plus membership.





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





..”Wall Street is the only place that people ride to in a Rolls Royce to get advice from those who take the subway”..



Warren Buffett





..”A radical is one who speaks the truth.”..



Charles August Lindbergh Snr



..“I buy on the assumption they could close the market the next day and not reopen it for five years” and “Much success can be attributed to inactivity. Most investors cannot resist the temptation to constantly buy and sell.”..



Warren Buffet





…”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








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Sign up today for an exclusive discount along with our 30-day GUARANTEE — Love us or leave, with your money back! Click here to become a part of our growing community and learn how to stop gambling with your investments. We will teach you to BE THE HOUSE — Not the Gambler!

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