Courtesy of Read the Ticker
If you are having trouble finding the news behind the bitcoin price move, don't fret here is the answer.
1) Gold and silver starting to react to US FED repo non QE US Dollar creation.
2) Congress questioning of Zuck on Libra did not surprise.
3) Bitcoin price hit trusted outer demand channel line (see chart below).
The answer is mostly (3), of course to monitor price action near channels you must chose your charting software carefully, to ensure it draws true and accurate channels correctly. readtheticker.com does this well.
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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…
…"I was brutal in self-analysis. He told his sons his conclusions: “Successful trading is always an emotional battle for the speculator, not an intelligent battle.”…He knew that his biggest enemy was his own emotions."…
Jesse Livermore
..“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
.."A market is the combined behavior of thousands of people responding to information, misinformation and whim"..
Kenneth Chang
.."If past history was all there was to the game, the richest people would be librarians"..
Warren Buffett
..“Because of the extreme challenge, one must commit full attention to it.” Market speculation is “no different than trying to be a successful doctor or lawyer … you simply must devote yourself full-time to the study of your craft”…
Bernard Baruch
