Just a quick update to the triangle we've been tracking since the last breakdown. I was working a chart of the rapidly rising margin longs this morning and that a long squeeze was being setup as longs looked over leverage while price was breaking down. Before I hit publish we got a big pop on BTC which rallied to the 50 day moving average. At the moment it's best...
Some interesting symmetries exist in BTC bull/bear cycles that I don't believe have appeared as cleanly before in other assets. My belief which will take several years to play out is these cycles are fundamental to Bitcoin alone due to the nature of it's 4 year supply shock related to the halving. It appears to forecast that 6-12 months prior to the 4 year block...
Please don't follow this advise, even my mom doesn't follow me on here...you know your charting sucks when it doesn't impress your mom!!
Triangles seem to statistically play out the best in my experience as well I've found the Sequential system useful to see if different patterns align. In this case the weekly chart signaled a shorting opportunity when the red 3...
As a follow-up post to my most recent string of bad ideas. BTC seems to be forming another descending triangle on the weekly time frame. I've been looking for a place to put some buy orders. The triangles final target comes in at $2154. The target leaves us in an area of zero resistance however $2000 psychological and $1800 stand out as strong support levels....
This is likely the ramblings of a clueless idiot but I've watched enough YouTube video's to consider myself an expert on drawing lines in places that might possibly mean something is going to happen at some point in time in the somewhat near future. For the record I'm not a technical trader so I'm not sure why you are even reading this. Don't follow my advise as I...
