Hello all, here is an interesting chart I put together today. Notice the very similar price action today as compared to last year's US government auction of Silk Road Bitcoins. As an event that will bring Bitcion to the public's attention (and may even garner new buying interest) the upcoming US Marshal's auction of bitcoins marks a significant fundamental driver of price for me. Ride the wave of 'the rumor' into harmonic targets but try not to be caught too long on the other side of the event. Cheers The Rational Investor therationalinvestor.co/ @CRInvestor
Comments
CRInvestor
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hope you didn't get caught too long, recon this was the perfect comment here 'Ride the wave of 'the rumor' into harmonic targets but try not to be caught too long on the other side of the event.'
abail
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What are your perspectives from here? Lower lows or retest resistance up ahead?
CRInvestor
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this isn't a good forum for us to be reviewing short term thoughts. Please give serious consideration to joining our site if you want short term trading ideas. For a taste of what I do I also recommend following me on twitter (@CRInvestor). Here for example was a setup we reviewed first thing this AM that produced nice day trade profits twitter.com/CRInvestor/status/662662910427009024
CRInvestor
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Update as of Monday November 2nd. (Three more sleeps) Even my outlandish outside price objectives are now complete. Blow off top might take us above $435 on Futures but for me, rally is basically done
Remember my words of caution re other side of auction,
Brian
blackswan
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hey do you foresee correction ahead? i expect blow off around 550+, also depends on how well the auction goes though...
CRInvestor
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yup but we are not even at the event yet (lol).....but tbh, this rally went a lot further then even I expected. Did some serious technically bullish damage. Probably best to follow me on twitter or consider joining our awesome little community for more timely info to trade off of..... most recent ideas we been kicking around the site &
CRInvestor
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Update as of Monday October 26th (10 more sleeps till Gov't Auction.....teehee)
CRInvestor
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Thankfully, previously bearish setups didn't come in....Bullish resolution of recent harmonic PRZ paints further upside objectives. So PRZ, IFP & RLZ all coming together nicely into Fundamental catalyst. Sadly, it looks like any interested public on public event will be paying top dollar for coins...
CRInvestor
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fwiw, in this case it might help to know a few Beamish'isms (teehee)
PRZ = Potential Reversal Zone (used in harmonic community as a potential trade location reference)
IFP = Institutional Foot Print (my own term - where the 'smart money' stopped previous bull runs and may do so again)
RLZ = ReLoad Zone (my own term - where if 'smart money' believes previous trend is still valid may step in to either defend IFP sales or may re-enter short positions)
CRInvestor
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update....no one ever said it was going to be a straight line....lol