BTC - 4 Hour - My Thoughts 10-29-20
Updated
Hi everyone, Andrew here, Here's my thought for BTC using the 4 hour chart...
A Parabolic Ark is a Bearish pattern, but this ark has a ways to go. In fact it may never be filled unless something crazy happens with the market on election day. If Marshall Law is declared or something crazy like that happens, we may have a massive pull back then IMO a V Shape recovery.
I am bullish till the elections, I am not going to call or act like I know who is going to win and the possible reaction based on party, but rather what could happen with the crypto market. Some are saying it doesn't matter who get elected, the markets won't react. I think that's farthest from the truth, Yes it may not happen on November 3rd, but, I think within a week or so after the election, maybe once the party is confirmed. Also I think the reaction will be based on the controlling (senate and the house) party and who it is.
Short Term Bullish (till election day)
Mid Term: Neutral (depends on who wins if I go Bullish or Bearish)
Long Term: Bullish (It doesn't matter who wins)
I'm not an investment adviser so please do your own homework.
A Parabolic Ark is a Bearish pattern, but this ark has a ways to go. In fact it may never be filled unless something crazy happens with the market on election day. If Marshall Law is declared or something crazy like that happens, we may have a massive pull back then IMO a V Shape recovery.
I am bullish till the elections, I am not going to call or act like I know who is going to win and the possible reaction based on party, but rather what could happen with the crypto market. Some are saying it doesn't matter who get elected, the markets won't react. I think that's farthest from the truth, Yes it may not happen on November 3rd, but, I think within a week or so after the election, maybe once the party is confirmed. Also I think the reaction will be based on the controlling (senate and the house) party and who it is.
Short Term Bullish (till election day)
Mid Term: Neutral (depends on who wins if I go Bullish or Bearish)
Long Term: Bullish (It doesn't matter who wins)
I'm not an investment adviser so please do your own homework.
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Hi everyone, to get a better view of the arc, please adjust the Parabolic Arc to match Bitcoins lower touch points by adjusting (dragging) the value upward slightly.If you like my charts, please don't forget to press Like. :)
Note
Parabolic Arc - A closer Look. 
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