MoneyPatterns
Long

BTC-Long Term Bullish ; Short Term Consolidation Buy Opportunity

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
I am currently in this trade. I will continue to add to my position in the Buy Zone.

Chart Details
We are still consolidating into the tip of the wedge .
I still think the Buy Zone is lower into the $6100 area.
RSI trend is still in channel. Rebound off top RSI channel indicates short-term downtrend consolidation where I will look to buy if possible.
Current overall Daily trend is bullish . Next trend is bearish . I think we will get very low on Trend Dots before any bullish parabolic move.
Long term trendline (yellow) shows we should not go below $6k EVER.

Entry Options
I will buy anywhere under $7k with wishful orders scattered in the $6k range.

Outer Space chart mentioned

About Me
Thank you for liking, commenting, throwing up a chart, following, or viewing.
I am not a financial advisor. My comments and reviews are based on what I do with my personal accounts.
I am transitioning to my new website https://www.moneypatterns.com and will be updating my username here. Same guy - new name. :)
Website will be ready for launch mid-January 2020. Thank you for your patience while I try to juggle everything and maintain the same standards.
Disclosure - I am long BTCUSD , GBTC . Short-term bullish GDX with options.

Comments

I've been lurking around TV for years and never once have I been compelled to comment until tonight. I like your charts. Thank You so much for sharing them with me. Most charts I see I'm just looking at them saying to myself WTF? This author knows just enough to show me what he wants to believe. But your charts are easy to read, easy to understand and I think you see into finances a bit more than the average bear. What brings me here? I had a feeling the halving was going to do something but I'm a cabinet maker that can barely type lol not a financial wing ding that knows how to use all these fancy tools to help see into the financial future. I remember last halving it seemed to me that the price unexpectedly went down for a spell or I was out of sink with its rhythm or something. I just couldn't see or understand exactly what had happened back then or how it could help steer my perception in the now, until yesterday when I found your charts. Watching this all play out is going to be so exciting! Your Outer Space chart is so sweet. It helps bring it all together for me and this new chart helps bring the now into focus. This is my second sleepless night in a row fascinating myself in front of the computer thinking... is it time to sell some alibaba? For some time now I've been waiting for btc to come down to double what the last low low was. Basically putting it into the 6.4k area b4 the baby bull comes bouncing back into play, but that may be me seeing what i want to believe. Oh and thanks again your @MoneyPatterns rock.
Reply
@Baltazor, First, Thank you for the kind compliment and for taking the time to leave a comment. I really appreciate it.
My goal is to provide the facts, then state “my opinion” so people know that is what “I think” or “IMO” versus the actual math, facts, sources, etc. Thank you for noticing I am trying not to be like CNBC and tell you my opinion, then the story, then my opinion. LOL (although I watch CNBC and Bloomberg as the mainstream media outlet).

I encourage you to follow myself and other people on here. Just go to the persons profile and click Follow. Then you get updates when charts are posted.

Sources below –
Modeling Bitcoins Value – shows halving has positive affect on price every time. Rainbow chart confirms we are at the low. Accumulate anywhere $7200 and below. $6900 is current low which may go AS low as $6200. I do not see lower than $6200. If your time horizon is 1-2 years, this is 2x or more.

Source Links
https://medium.com/@100trillionUSD/modeling-bitcoins-value-with-scarcity-91fa0fc03e25
https://twitter.com/100trillionUSD
https://alternative.me/crypto/fear-and-greed-index/
https://dcabtc.com/
https://www.blockchaincenter.net/BITCOIN-RAINBOW-CHART/

You can also see my Bitcoin Outer Space chart (showing longer view)
Reply
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