13 APR 20
Bitcoin Clock is now reporting the Bitcoin Block Halving will take place on May 11, 2020. The note on today’s chart helps me remember how long I have been aiming for the target of $3,113.05 (or lower) per Bitcoin. Since September 3,2019 the original target date has been before the beginning of June 2020.
So now that 2020BS (Black Swan) is well underway I thought it would be the best time to preview where Bitcoin might go the next time a dime crosses it’s path. It’s a lot like finding a few very profitable Precious Metal Mining Companies. Your Tracking History can tell you which worked in the past and what type of behavior is rewarding to the stakeholder or HODLer, not just the Board or the Market Maker or the Bitcoin M&T. (Marketers & Token Generators). Also, like Miners, you have to begin with a reasonable collection, (say 7-10) prospects and watch them for months while you weed out the ones that will not end up being 10 baggers. After a while you get it trimmed down to just 4-5 likeable patterns just like we have here. No I’m not suggesting you go buy any ALT coin although some mining plays look to have a bright future right now.
On this chart I have used two Bars Patterns in different arrangements beginning with Yellow as the oldest. The second Bar Pattern added is White and all others are made from it such as the Green and Blue end up being the exact opposites of each other. As often as the trend appears to change direction with Bitcoin it will never be reduce to just one. And it’s not always financially rewarding to limit yourself to just one possibility. An expanded mind is necessary to gain a clear vision of Bitcoin’s possibilities.
Along with the Bar Patterns I mentioned before that I like to use the Fib Circles. I’ve hidden most of them for clarity but if you want to know what’s missing you should head over to OPTICALARTdotCOM where I get mine. I also like to compare where we’ve been with where we might be heading by using the Fib Retracement graphs. Knowing how chart patterns interact with certain levels on the Fib Retracement tool will help you set targets for where you might want to get in or stay out of Bitcoin.
Happy Trading Everyone.
Thank you for letting me shares my Bitcoin Study. I hope it helps you see the path forward in all your trades.
Remember. This is not trading advice. It is for Educational Purposes only. Follow me if you wish. I do not use Twitter or Face Book. Please engage the like button and add your comments below.
