Courtesy of Read the Ticker
2021 kicks off so does Bitcoin with great haste, finally all that FED COVID easy money created months ago is finding its way into risk on asset prices. The big bitcoin channel show us the road ahead.
The 2017 rally had two 12 week pauses (see below), we may not get that this time, maybe only one pause at $42,000 to $50,000 and then a charge to $100,000.
Finding and using the correct support and resistance channels on prices is critical (using Wyckoff thinking), in RTT Plus we have a library of channels on securities for members to review.
Log BTC Chart
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As you can see from the bigger channels price targets are huge, but $50,000 will be a major challenge.
Log BTC Chart
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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.
This post is a delayed and small sample of what is avaliable to members. Sign up to enjoy the full service.
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…
..“What beat me was not having the brains enough to stick to my own game – that is, to play the market only when I was satisfied that precedents favored my play.”..
Jesse Livermore
..”Until an hour before the Devil fell, God thought him beautiful in Heaven”..
Arthur Miller, “The Crucible”
[Contrarian Investing]
..”If past history was all there was to the game, the richest people would be librarians”..
Warren Buffett
..“It is much harder to sell stocks correctly than to buy them correctly.” Because of the emotional aspect of trading, if a “stock went up, the average investor would hold because he wants more gains – he’s exhibiting greed. If the stock declines, he also holds on and hopes the stock will come back so he can at least sell and break even – he’s hoping against hope”..
Bernard Baruch
..“The key to successful investing is having everyone agree with you — LATER.”..
Jim Grant
