Many bears are comparing the 2021 Bitcoin price action to that of 2014 and 2018. The BTC/SPY ratio chart suggests this time is already different. I suspect many bears will be in for a rough period ahead, and many no-coiners will be left on the sidelines as Bitcoin enters the next bull run. Two essential items to note:
1: The 30-week SMA has failed to hold the...
5/3/19
Update to the Feb 24 Post. We can now say that Jan 29 was the spring, AND there was a major sign put in. We are now in the markup phase of the accumulation, and we see a clearly defined trend channel, which is often the case. Target marked above at 6800, which coincides with a high wick from Oct 15, 2018.
I view the recent consolidation in April as a...
4-2-19:
Been using this AAPL 60m PnF chart for a while now. Today, price broke above the bearish 45 to create a new bullish 45° trend. Next target is $209. Can't deny the bullishness here.
3-31-19:
The bearish 45° trend line from the November collapse below 6,000 was finally broken on Feb 20. A new bullish 45° is in force, and there is enough point and figure columns printed to generate a target of ~9,000 from the 4.5 months of consolidation.
Bulls will need to show a sign of strength by breaking through the 4340 level.
I remain bullish above the...
