Log scale is a pain to use, as measured distances get warped due to how Log scale is printed, however the channel tool is a great work around for that, along with fibs.
Quite often, even on the macro scale, 1:1 moves are very well respected.
These 3 levels are based off logical 1:1 moves, the logic is defined by previous market cycles, bitcoin respected these...
I'm now looking for the 4th wave to complete on HTF support, which will then lead us into a very violent and explosive 5th wave. Look at Oct 2017 > December 2017 as an example.
The times/dates of price forecast are only for illustration purposes.
I believe this will be the 'minimum' target to chase within this Bull Market Cycle.
I'm long. Average re-entry of 0.65c.
$IOTA #IOTA #MIOTA - Is at the last point of supply, before the inevitable happens, and new millionaires are made.
This is Wyckoff Theory. It's how large money moves a market to their will.
Don't fight large money, just ride their waves.
The next major wave from here is vertically up.
PS—preliminary support, where substantial buying begins to provide...
We've reached weekly supply. We only touched this level once in the last 2.5years. I don't expect us to get straight through, it would be much healthier if we're to burn out here, and retrace for a healthy re-accumulation - before we head into a true euphoric run.
Long term, chasing 10x from the bottom of the retrace that is hopefully to come.
I've sold a nice...
CME Group Futures Dates:
Dec 2020 BTCZ20 16 Dec 2019 > 24 Dec 2020 Settlement: 28 Dec 2020 -
Jan 2021 BTCF21 03 Aug 2020 > 29 Jan 2021 Settlement: 01 Feb 2021 -
Feb 2021 BTCG21 31 Aug 2020 > 26 Feb 2021 Settlement: 01 Mar 2021 -
Mar 2021 BTCH21 28 Sep 2020 > 26 Mar 2021 Settlement: 29 Mar 2021 -
Apr 2021 BTCJ21 02 Nov 2020 > 30 Apr 2021 Settlement: 03...
The study of Wyckoff Theory, along with market cycles, would suggest IOTA is being heavily accumulated within this range.
With a clear demand level of 0.20c and clear supply level of 0.40c. Anything sold above 40c is a win, and anything bought below 20c is a win.
Until we've breached the downwards channel resistance, and weekly range high resistance, we can...
Cheat Sheet for Risk Management.
Practicing Disciplined Risk Management is what sets a amateur trader apart from a professional trader.
Define your risk prior to the trade.
The risk, combined with distance to stop loss is what determines your position size.
If you understand market cycles, crypto currencies market cycles and what this chart, and this line, at this point in time means.. you'll be preppin' those bags.. don't f*ck this up, we've waited 3 years for this moment.
This is one of the many paths bitcoin could take over the coming months. I think this is the logical play if we're to head to the top of the range, while also factoring in the CME and BAKKT gaps that exist.
It's typical for a walling wedge to have an inverse head and shoulder at the bottom of it, and the right shoulder being the retest of the breached...
Broadening Descending Wedge/Bump and Run bottom.
Reach 0.1272 Fib and head and shoulder rejection.
Fall. Flag. Fall.
While making yet another Broadening Descending Wedge/Bump and Run bottom.
This is pattern after pattern, and the time duration and patterns in a row, are the same.
We're in for a shocking October. But, buy the f*ing dip.
Bitcoin loves it's macro fractals. This suggest we're nearing cheap BTC before the next major mark up from the invisible hand.
Watch the 0.382%.
Watch the weekly 20MA.
Google the pattern name to learn more.
In this analysis, it appears bitcoin is following a previous schematic from 2020's May > July Wyckoff Reaccumulation before breaking up to where it appears we're repeating the same schematic again yet again.
If this plays true, we'll have a few weeks of a small % movement sideways trading range.
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