Long Term BTC Acute Line
From Richard Ney's insider experience written in his books "The Wall Street Gang" and "Making it in the market", we can make out an acute channel of 22 degrees measured with 2018 bear season, using the logarithmic chart. This is still respected relatively well to this day.
Ultra High Volume around 20k suggests specialist buying. Furthermore, with BTC consistently dropping to the 19k mark and immediately recovers, triggering retail selling, we can apply The Number Theory and verify their accumulation.
Ultimately, a short rally or bear flag would probably play out, followed by major short-selling and we can expect a Secondary Offering around the 14k level. This is also around the bottom of the channel, providing us with the perfect DCA opportunity. SL 8k, TP 250k.
Nevertheless, Predicting the market is the last thing any investor should do. BTC can crash to the lower band the next day or hit all time highs. This is just an outline of possible outcomes. Reacting is the only way.
Happy trading.
Ultra High Volume around 20k suggests specialist buying. Furthermore, with BTC consistently dropping to the 19k mark and immediately recovers, triggering retail selling, we can apply The Number Theory and verify their accumulation.
Ultimately, a short rally or bear flag would probably play out, followed by major short-selling and we can expect a Secondary Offering around the 14k level. This is also around the bottom of the channel, providing us with the perfect DCA opportunity. SL 8k, TP 250k.
Nevertheless, Predicting the market is the last thing any investor should do. BTC can crash to the lower band the next day or hit all time highs. This is just an outline of possible outcomes. Reacting is the only way.
Happy trading.
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