Bitcoin / US Dollar Perpetual Inverse Swap ContractBitMEX
Description
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Long Entry: 7009.5 Stop Loss: 6647 Target: 10389 R:R: 9.32
Short Entry: 10389 Stop Loss: 10821 Target: 3371 R:R: 16.25
Long Entry: 3371 Stop Loss: 3093 Target: 20444 R:R: 61.41
|O.o|
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The Greatest Depression:
1929 --> 2019 Nineteen Twenty Nine --> Twenty Nineteen "History may not repeat itself but it does rhyme" - Joseph Anthony Wittreich
The time difference between these two dates is 90 years - the upper limits of the human lifespan. Enough time has passed for people to forget, and for those who remember to be removed from the economy. There's a big difference between knowing that something happened and remembering that it happened to you. This is the reason why the long term debt cycle lasts 75-100 years.
Black Tuesday - October 29th, 1929 - the stock market crashed. We are now in October, and the analysis above aligns very well with the next depression starting on October 29th this year. First, people see an opportunity, greed leaves one market (equities) and enters another (bitcoin) - we see a bounce in BTC. Then, fear takes hold and pulls bitcoin way down, along with every other market (potentially except for some commodities like gold and silver). Once the trend is established in the wider markets, greed returns and people think bitcoin will finally play it's role as the escape hatch while the economy burns - too early. Bitcoin grows inverse to the collapse but not for long. Soon after a false breakout of the ATH, it retraces 90-95% to $1000-$2000 during the initial deflationary period.
Only after a few years will enough time have passed for the reality to set in = the world is in trouble and everyone is effected. This will empower a falsehood = bitcoin will replace the inflating dollar and save us all = speculative mania. I can only guess how large this final bubble will be, but I do think that it will be the largest in history.
The next Depression is likely to be the largest, but is hopefully also the last, making it the "Greatest Depression".
This is all quite "Depressing", but volatility = opportunity. This can be our gold rush
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Additional Short Order Placed: Short Entry: 10389 Stop Loss: 11301 Target: 4226 R:R: 6.76
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Additional Long Order Placed: Long Entry: 7121 Stop Loss: 6347 Target: 9779 R:R: 3.43
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Original Long Order Amended: Long Entry: 7009.5 Stop Loss: 6599 Target: 10389 R:R: 8.23
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Multiple Positions Amended, all orders listed here:
Long Position 1: Long Entry: 6871 Stop Loss: 6299 Target: 10279 R:R: 5.96
Long Position 2 Long Entry: 6461 Stop Loss: 5788 Target: 9779 R:R: 4.93
Short Position 1: Short Entry: 11247 Stop Loss: 12621 Target: 4226 R:R: 5.11
Short Position 2: Short Entry: 11579 Stop Loss: 13384 Target: 3371 R:R: 4.55
Long Position 3: Long Entry: 3371 Stop Loss: 2989 Target: 8589 R:R: 13.66
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Additional Long Order Placed: Long Position 4: Long Entry: 6871 Stop Loss: 6647 Target: 9779 R:R: 12.98
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Short Orders 1 and 2 Amended: Short Position 1: Short Entry: 11247 Stop Loss: 12401 Target: 3371 R:R: 6.82
Short Position 2: Short Entry: 11579 Stop Loss: 13384 Target: 4226 R:R: 4.07
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Summary of Position Entries: Long Entry: 6871 Long Entry: 6461 Short Entry: 11247 Short Entry: 11579 Long Entry: 3371
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Multiple positions updated, all resting orders listed below:
Long Position 1: Long Entry: 6871 Stop Loss: 6299 Target: 10279 R:R: 5.96
Long Position 2: Long Entry: 6678 Stop Loss: 6549 Target: 9779 R:R: 24
Long Position 3: Long Entry: 6406 Stop Loss: 5788 Target: 9779 R:R: 5.46
Short Position 1: Short Entry: 11247 Stop Loss: 13301 Target: 4261 R:R: 3.4
Short Position 2: Short Entry: 11579 Stop Loss: 12401 Target: 4261 R:R: 8.9
Long Position 3: Long Entry: 3371 Stop Loss: 2989 Target: 8589 R:R: 13.66
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Update to Long Position 2: Long Position 2: Long Entry: 6756 Stop Loss: 6639 Target: 9779 R:R: 25.84
Order cancelled
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Given the amount of changes to the original forecast, I decided to move this content to a new post. Click the image below for the up to date trade signals: