I believe I have found a connection between Bitcoin and the MJ industry. When comparing BTC to APH I have found stunningly similar trends but Bitcoin seems top make the first move by almost a month. I have placed alphabetical reference points to show the comparison.
Since BTC seems to be ahead of APH by a month, I went ahead and placed the next trend...
I have compared Bitcoin with 3 major Marijuana/Hemp stocks. Bitcoin seems to be paving the way for the MJ industry by about a week to 2 weeks. Will this pattern hold up and will this be a good indicator in the future?
(Bitcoin is the black line)
Classic inverse Head & Shoulder pattern spotted for some potential swing trades and Bullish breakout?
Buy @ .0625 (or in this case now @ .056)
Then bullish breakout confirmed past .08!
Major support @ .83
Buy @.83 and hold until 1.12 for a +30% gain or risk +40% loss through bearish breakthrough?
I believe we will break through our target price of 1.12 and reach the most recent ATH within the next few months.
- Buy in at the end of this month/Beginning with a target price of .044-.045
- Wait for next spike from .044 and sell at target price of .1
- Expect a pullback and buy in again at the end of June with a target price of .056