ridethepig | The Nature of the Work
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Breakouts and impulsive swings
π @ridethepig
June Map
Buyers had the move and played to exchange at the key support lows, which despite the length of compression can also be expressed in an impulsive breakup in no other terms than: Buyers in full control and gunning to take out the highs in the compression range.
I managed to carry out the deeply laid plan towards the second target although it should have been broken on the first test in my opinion as was well within reach. I see no other ending here than for BTC to outperform, the 'ideal asset' for a time when confidence in the public sector is diminishing by the hour.
Things proceed as follows: buyers load the 9012.x lows and accumulation begins. And now that we are finished with this phase we can clear the way for buyers to test 10,800.x into August. Here the only prevention can come from state bans on exchanges although the inevitable outcome in this case would be, as many know, private markets and auctions.
In the swing cooking here, buyers are liberated from the grips of compression, an interesting setup! How keenly will buyers attempt to achieve the ground? Where are sellers stops? Why? For those wanting to further the conversation we can track the inner flows together in the comments below.
Thanks as usual for keeping the feedback coming π or π
π @ridethepig
June Map
Buyers had the move and played to exchange at the key support lows, which despite the length of compression can also be expressed in an impulsive breakup in no other terms than: Buyers in full control and gunning to take out the highs in the compression range.
I managed to carry out the deeply laid plan towards the second target although it should have been broken on the first test in my opinion as was well within reach. I see no other ending here than for BTC to outperform, the 'ideal asset' for a time when confidence in the public sector is diminishing by the hour.
Things proceed as follows: buyers load the 9012.x lows and accumulation begins. And now that we are finished with this phase we can clear the way for buyers to test 10,800.x into August. Here the only prevention can come from state bans on exchanges although the inevitable outcome in this case would be, as many know, private markets and auctions.
In the swing cooking here, buyers are liberated from the grips of compression, an interesting setup! How keenly will buyers attempt to achieve the ground? Where are sellers stops? Why? For those wanting to further the conversation we can track the inner flows together in the comments below.
Thanks as usual for keeping the feedback coming π or π
Comment:
Eyes on $9,500 for the pan-european market open...
Comment:
...and we are back to square one at $9,500 for the pan-european open again:
Trade closed: target reached:
First targets @ 9757 cleared β
Comment:
Trade closed: target reached:
Second Targets @ 10,031 cleared β
Trade closed: target reached:
Third Targets @ $10,800 cleared β
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Comments
@ridethepig You don't think S&P 500 crash will have impact on Bitcoin?
I see correction to 7-8k from 9800 or 10600.
I see correction to 7-8k from 9800 or 10600.
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good TA, almost agree. my view for short term.break upon 10100 lead us to 10400 and 10800 .close below 9350, declines
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How did you plot your $10,800 for August, do you see the growth being that quick, I was thinking more November to get near to $11k again??? Thanks
Reply
Regarding the timing part of your question; August is a major turning point in the economic cycle where capital will start to rush from public assets into private. The simplification comes from a lack of space to park money, BTC will become desirable to those who are ahead on the cycle.
The obvious threat to this thesis comes from bans on exchanges for 'laundering and the usual bs' which can be used as a weapon to force a correction in BTC.
The obvious threat to this thesis comes from bans on exchanges for 'laundering and the usual bs' which can be used as a weapon to force a correction in BTC.
Reply
@ridethepig, thanks for doing that. I am still lost as to the $10,800 occurring in August and how you came to it, apologies, still relatively new to this.
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