Courtesy of Read the Ticker
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.
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Chart 2: Big point. Notice how open interest has a lot of room to move before prices reflect a top is near.
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Chart 3: Bitcoin to $100,000 by 2021 is a little extreme for this blog.
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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…
..”I believe that the public wants to be led, to be instructed, to be told what to do. They want reassurance. They will always move en masse, a mob, a herd, a group, because people want the safety of human company. They are afraid to stand alone because they want to be safely included within the herd, not to be the lone calf standing on the desolate, dangerous, wolf-patrolled prairie of contrary opinion.”..
Jesse Livermore
..”Until an hour before the Devil fell, God thought him beautiful in Heaven”..
Arthur Miller, “The Crucible”
[Contrarian Investing]
..”To cause high prices, all the Fed will do will be to lower the re discount rate…, producing an expansion of credit and a rising stock market; then when, business men are adjusted to these conditions, it can check, prosperity in mid career by arbitrarily raising the rate of interest. It can cause the pendulum of a rising and falling market to swing gently back and forth by slight changes in the discount rate, or cause violent fluctuations by a greater rate variation and in either case it will possess inside information as to financial conditions and advance knowledge of the coming change, either up or down. This is the most dangerous advantage ever placed in the hands of a special privilege class by any Government that ever existed. The are private, conducted for the purpose of obtaining the greatest possible profits from the use of other people’s money. They know in advance when to create panics to their advantage, and when to stop panic.”…
Charles August Lindbergh Snr
..”The key to making money in stocks is not to get scared out of them”
Peter Lynch
..”A radical is one who speaks the truth.”..
Charles August Lindbergh Snr
