BTC has behaved very well and obediently in obeying the absurd relation to the S&P. Is it locked in? No. But, if you believe in a butterfly causing a storm, you would definitely be believing in this chart. This chart shows that BTC is still locked in to the earlier highs of 2017 and has never beaten it. Until that never happens, keep little hope of Bitcoin...
I'm using the gold standard here for valuing Oil.
As described in chart, the pattern formed is currently that of a H&S, and the ratio is retracing towards the 61.8%
Keeping an entry point there for oil, I suggest a long strategy for oil with everything you got.
Also, what if the retracement ends there... Still time to make money by Shorting oil with all that...
I'm not comfortable with the movement of USD these days, although it still remains a reserve currency.
However, if I had to consider the VIX and relative strength of USD, I had to bring an independent entity-Gold.
Using this chart, one can observe the price of BTC in gold terms. One point to keep in mind is: GOLD IS CONSIDERED THE STANDARD HERE.
In the near...
I'm still reporting from my MBA. Close to finishing it though. So if anyone wants to hire a crazy MBA MIT Sloan grad, ping me!
Now, back to analysis.
Please ignore the recent waves in the BTCUSD chart. I would rather suggest, these are accumulation times. I had written quite a while earlier pointing towards the lowest points and BTCUSD hasnt fallen much...
Well, I've somehow traded myself into college with the minimum funds, and my expectations of help from the public was met with great disappointment. NO donations, I mean; How ungrateful.
However, please do stop panicking and pulling your own pants down! The WORLD is not over yet! Is it a correction? Is it long-term downtrend? PM me please!
It's time to debate....
Is this the time for a breakout or a breakdown.
The upward velocity of Bitcoin and Stable to negative trajectory of Ethereum is in unison to create this form.
For the chartists, is this a time for a breakout?
The answer is truly - EASY!!! Do comment.
Well! If you hate maths, you may stop reading here!
BTC and ETH, have been in a correction. But, it's interesting to note that both are loyal to FRENEMY relations. One rises, the other follows! We know who we are speaking of, I hope!
Now to the chart. BTCUSD is a separate entity, so is ETHUSD. But both have a ratio which is ETHBTC or can be vice-versa as per...
The LSK darling has just created a pattern that is quite bearish. I believe this pattern will continue until the channel doesn't break downwards convincingly.
So HOW do I make MONEY?
The interesting bit of a channel is you know two parts:
1. The money is in making Shorts
2. You need to square off position whenever you hit the lower trend line, when trend line...
LSK has been very obedient to the trend. She's awesome! Wish I had a girl-friend that way, I think I'm wishing too much!
Anyways, getting back to the chart. LSK has reached it's support level. It has intense support here. Long term trend supports. It is more like a band of supports with a lot of volume present within. Just touching anywhere within the band is...
I tried keeping it simple and self-explanatory based on demand. It's a game of channels, and the last candle lies where it should be... Linking it to my other ETH charts, this would be the third evidence of ongoing trends and targets.
You are welcome to trade and ask support, if you feel this chart served you well - DONATE!!!
Please profit well from this trade and fund my education... Grateful if you do...
I had already published a trade where in I had marked ETHUSD to fall about to USD 150 which is very much on cards. But this chart is quite independent of USD prices which Bitcoin is impacted by.
There can be two meanings of this:
1. Bitcoin may rise quicker than ETH (ratio) to keep...
How do I see ETH? Not too good in short term, but excellent buy by the French Revolution day ;)
I love that box that I have drawn... The ETH price would drift like the Schrodinger cat's soul (PBUH) to end the downtrend...
The next 10 days will decide how LSK would rise... It's already close to the master support line (King Kong line).
Disclaimer: I have interests in LSK and would be looking forward to purchasing it when it enters the box...