LIVERMORE'S SPECULATION FUNNEL
Hola traders,
I hope you're all having a wonderful bull market thus far.
I originally stumbled across this idea early in this parabolic move, but didn't quite see it playing out. HOWEVER -I caught a tweet from Cryptohamster yesterday and it clicked.
Livermore's Speculative Chart
1 - 7: Asset is "coiling up" for a large move.
8: A bullish breakout of the rising broadening wedge (an otherwise bearish pattern) should allow one last point of entry before taking off (to the moon).
.. I believe we could be at point #8 right now, however there is a VERY REAL possibility that I am off by 1 count here, meaning we could be at POINT 7 RIGHT NOW -and we could be looking at a pretty severe correction before kicking off some more INSANE price action.
Some things to consider:
The last 4 weekends, BTC has rallied into late Sunday night -leaving CME gaps below PA each time, then experiencing a corrective move as markets open the following Monday.
Whales have been selling EVERY all time high over the last 2 weeks.
There's always a bearish possibility, and in this case -we could be looking at one final shakeout before the rocket ship takes off
-but with the total crypto MKCP nearing $1.1 trillion and BTC decoupling from the DXY -it's REALLY hard to be bearish on the BTC price right now.
RETAIL FOMO comin in HOT! We could be looking at a 150K BTC in Q1 of 2020... emphasis on "could".
Trade entries will be posted below -opened yesterday, however the plan has changed slightly -will be adding to my positions vs. taking profit. Keeping a trailing buy underneath of my SL.
ARE YOU BEARISH? .. or are you BULLISH?
I would love to hear your thoughts! (or read them).
I hope you're all having a wonderful bull market thus far.
I originally stumbled across this idea early in this parabolic move, but didn't quite see it playing out. HOWEVER -I caught a tweet from Cryptohamster yesterday and it clicked.
Livermore's Speculative Chart
1 - 7: Asset is "coiling up" for a large move.
8: A bullish breakout of the rising broadening wedge (an otherwise bearish pattern) should allow one last point of entry before taking off (to the moon).
.. I believe we could be at point #8 right now, however there is a VERY REAL possibility that I am off by 1 count here, meaning we could be at POINT 7 RIGHT NOW -and we could be looking at a pretty severe correction before kicking off some more INSANE price action.
Some things to consider:
The last 4 weekends, BTC has rallied into late Sunday night -leaving CME gaps below PA each time, then experiencing a corrective move as markets open the following Monday.
Whales have been selling EVERY all time high over the last 2 weeks.
There's always a bearish possibility, and in this case -we could be looking at one final shakeout before the rocket ship takes off
-but with the total crypto MKCP nearing $1.1 trillion and BTC decoupling from the DXY -it's REALLY hard to be bearish on the BTC price right now.
RETAIL FOMO comin in HOT! We could be looking at a 150K BTC in Q1 of 2020... emphasis on "could".
Trade entries will be posted below -opened yesterday, however the plan has changed slightly -will be adding to my positions vs. taking profit. Keeping a trailing buy underneath of my SL.
ARE YOU BEARISH? .. or are you BULLISH?
I would love to hear your thoughts! (or read them).
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