BITCOIN

The notable aspect of Bitcoin is the CRUSHING of the Gartely 222 SELL PATTERN in/around 14-15k. As you have seen me blog before, failed patterns aren’t fun because IF you took the investment/trade THEN you probably lost money. But, to try and figure out “where” you are they tell you a lot. The “usually” result in explosive moves higher or lower depending on the the PATTERN being a BUY or a SELL.

As we approach new highs remember, this is a 5th wave … yes, it could explode higher and higher and higher ….but, the euphoria, the political landscape, the talking heads, the “insert something to fuel the rise here” are all going to be blathering but our job … trust the PATTERNS.

If/when we do get a nice pullback the levels of FAILED PATTERNS are usually good support or resistance depending o the type of pattern.

The 21-23K level is a BIG TARGET as it represents an AB=CD from the ALL TIME low and a 1.27 extension. It SHOULD be stiff resistance if not a big ole target.

Last, just take a second to study the 2nd chart below. Remember the CHAOS of the BITCOIN craze …? Well, if we take the point labeled “S” (start) and follow it to X then A= .786 SX. From there, just look at the relationships that were almost PERFECT in this heightened GLOBAL market. Can someone explain this to me …?

Stay safe, thanks – always – for reading.

Bart

Update to BITCOIN (NYSE Index Bitcoin Index)

if you do a search you’ll find some interesting charts on the ‘parabolic’ rise of the BITCOIN Index.  PARABOLIC RISES ALWAYS END LIKE THIS …period.

what’s important to realize is we are balancing the energy of euphoria (a sell signal) w/ depression/capitulation (a buy signal) … so what’s important now. note the triangle is broke down from (it’s supposed to do that) and now we have some projections via percent change and some trendlines (LOG- which are key) and the vaunted .786 retracement.  why not give that  BUY shot … I’m going to be looking at that …

B

Bitcoin and it’s Parabolic Rise over @seeitmarket an update

12/21/2017 – have been vacationing w/ the family in Cabo.  Great time … below is the updated chart of Bitcoin Index.  would like to see another move lower to complete an A-B – C correction.

 

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https://www.seeitmarket.com/bitcoins-parabolic-move-3-drives-to-a-high-17531/

 

BITCOIN Investment Trust … why did it stop today? UPDATE to the UPDATE to the Update (I like doing these updates)

09/16/2017 – note the 55% correction and the AB-CD pattern which caused the move up late last week.  the 680 level is the KEY level to watch for resistance moving forward.  more updates to follow … amazing, even in the midst of this chaos of a bubble, the ‘log’ percentage retracements and the AB-CD worked (perfectly) all based on PATTERNS.

if you don’t this is a crazy bubble then check out this graph … a friend forwarded from the Elliot Wave Theory (www.ElliottWave.com ) … this is an AMAZING chart. I’m not making the case of the utility of bitcoin. No, I’m just showing the PRICE of BITCOIN is of epic bubble proportions.  CAVEAT EMPTOR.

Not sure how long this will explode higher BUT when it REALLY falls (is this the start?) it’s going to come down – hard.

Good weekend to you.

Bart


 

09/03/2017 – Update as of Sunday 09/03/2017.  Folks, sometimes the PATTERNS/numbers work and sometimes they don’t.  This time, appears the numbers we respected and we had a very large sell-off in $GBTC.  Stay defensive for now .. a move into the high 400’s isn’t out of the question after such a parabolic run.

Good weekend to all … B

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08/31/2017 – well Barron’s nailed the high in the US Dollar Index declaring the “Mighty Dollar” but this one hasn’t been as reliable as  the ‘top or bottom’ caller when something makes the front page.

so, below you’ll see an updated Bitcoin Investment Trust update … sure looks like it’s hitting some strong resistance.  Still believe this is an accident waiting to happen …

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07/02/2017 – Barron’s .. the ultimate contrarian indicator.  🙂 For the time being, at least, we still have the upper target out there and, additionally, the corrective sequence sure looks like it wants another move down. CAVEAT EMPTOR

Bart

 

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05/25/2017 – I hate to do the ‘could have and would have and should have’ when using charts. Those of you who have been following me know that. I wanted to get to this chart before the open to just give it a shot … was on travel and in the airport yesterday and I kept seeing the PARABOLIC ROCKET SHIP of BITCOIN …couldn’t wait to throw some geometry on the chart.

When we see parabolic moves – THINK LOGS.  It’s why the darn things were created in the first place.

As you can see below .. we are stretched and could go higher but today it ran smack into a LOG AB=CD and a key LOG trend line .. resistance was to be expected. You can also see – and why not – that there is another set of targets higher.  I’ve also included the NYSE Bitcoin index … it’s data isn’t updated yet but you can see that it also ran smack into the GRAVITY CENTER. (I used the technique taught to us in elementary school on how to make a circle using three points. (dead serious).  Again, for you my loyal readers, I didn’t know if it would work. You get to the point where you can ‘see it’ …

For now … man, it’s great to get on the rocket ship and ride it but there was always a REASON we landed w/ 2000 lbs of gas.  Always .. because if you ran out of gas, your screwed. When parabolic blast off end they don’t end w/ a whimper .. .they THUMP hard.

Caveat Emptor for the Bitcoin craze ….

Bart

BITCOIN Investment Trust … why did it stop today? UPDATE to the UPDATE

09/03/2017 – Update as of Sunday 09/03/2017.  Folks, sometimes the PATTERNS/numbers work and sometimes they don’t.  This time, appears the numbers we respected and we had a very large sell-off in $GBTC.  Stay defensive for now .. a move into the high 400’s isn’t out of the question after such a parabolic run.

Good weekend to all … B

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08/31/2017 – well Barron’s nailed the high in the US Dollar Index declaring the “Mighty Dollar” but this one hasn’t been as reliable as  the ‘top or bottom’ caller when something makes the front page.

so, below you’ll see an updated Bitcoin Investment Trust update … sure looks like it’s hitting some strong resistance.  Still believe this is an accident waiting to happen …

____________________________________________________________________

 

07/02/2017 – Barron’s .. the ultimate contrarian indicator.  🙂 For the time being, at least, we still have the upper target out there and, additionally, the corrective sequence sure looks like it wants another move down. CAVEAT EMPTOR

Bart

 

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05/25/2017 – I hate to do the ‘could have and would have and should have’ when using charts. Those of you who have been following me know that. I wanted to get to this chart before the open to just give it a shot … was on travel and in the airport yesterday and I kept seeing the PARABOLIC ROCKET SHIP of BITCOIN …couldn’t wait to throw some geometry on the chart.

When we see parabolic moves – THINK LOGS.  It’s why the darn things were created in the first place.

As you can see below .. we are stretched and could go higher but today it ran smack into a LOG AB=CD and a key LOG trend line .. resistance was to be expected. You can also see – and why not – that there is another set of targets higher.  I’ve also included the NYSE Bitcoin index … it’s data isn’t updated yet but you can see that it also ran smack into the GRAVITY CENTER. (I used the technique taught to us in elementary school on how to make a circle using three points. (dead serious).  Again, for you my loyal readers, I didn’t know if it would work. You get to the point where you can ‘see it’ …

For now … man, it’s great to get on the rocket ship and ride it but there was always a REASON we landed w/ 2000 lbs of gas.  Always .. because if you ran out of gas, your screwed. When parabolic blast off end they don’t end w/ a whimper .. .they THUMP hard.

Caveat Emptor for the Bitcoin craze ….

Bart

BITCOIN Investment Trust … why did it stop today? UPDATE

08/31/2017 – well Barron’s nailed the high in the US Dollar Index declaring the “Mighty Dollar” but this one hasn’t been as reliable as  the ‘top or bottom’ caller when something makes the front page.

so, below you’ll see an updated Bitcoin Investment Trust update … sure looks like it’s hitting some strong resistance.  Still believe this is an accident waiting to happen …

____________________________________________________________________

 

07/02/2017 – Barron’s .. the ultimate contrarian indicator.  🙂 For the time being, at least, we still have the upper target out there and, additionally, the corrective sequence sure looks like it wants another move down. CAVEAT EMPTOR

Bart

 

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05/25/2017 – I hate to do the ‘could have and would have and should have’ when using charts. Those of you who have been following me know that. I wanted to get to this chart before the open to just give it a shot … was on travel and in the airport yesterday and I kept seeing the PARABOLIC ROCKET SHIP of BITCOIN …couldn’t wait to throw some geometry on the chart.

When we see parabolic moves – THINK LOGS.  It’s why the darn things were created in the first place.

As you can see below .. we are stretched and could go higher but today it ran smack into a LOG AB=CD and a key LOG trend line .. resistance was to be expected. You can also see – and why not – that there is another set of targets higher.  I’ve also included the NYSE Bitcoin index … it’s data isn’t updated yet but you can see that it also ran smack into the GRAVITY CENTER. (I used the technique taught to us in elementary school on how to make a circle using three points. (dead serious).  Again, for you my loyal readers, I didn’t know if it would work. You get to the point where you can ‘see it’ …

For now … man, it’s great to get on the rocket ship and ride it but there was always a REASON we landed w/ 2000 lbs of gas.  Always .. because if you ran out of gas, your screwed. When parabolic blast off end they don’t end w/ a whimper .. .they THUMP hard.

Caveat Emptor for the Bitcoin craze ….

Bart

BITCOIN Investment Trust … why did it stop today? UPDATE

07/02/2017 – Barron’s .. the ultimate contrarian indicator.  🙂 For the time being, at least, we still have the upper target out there and, additionally, the corrective sequence sure looks like it wants another move down. CAVEAT EMPTOR

Bart

 

——————————————————————————————————————————————————————-

05/25/2017 – I hate to do the ‘could have and would have and should have’ when using charts. Those of you who have been following me know that. I wanted to get to this chart before the open to just give it a shot … was on travel and in the airport yesterday and I kept seeing the PARABOLIC ROCKET SHIP of BITCOIN …couldn’t wait to throw some geometry on the chart.

When we see parabolic moves – THINK LOGS.  It’s why the darn things were created in the first place.

As you can see below .. we are stretched and could go higher but today it ran smack into a LOG AB=CD and a key LOG trend line .. resistance was to be expected. You can also see – and why not – that there is another set of targets higher.  I’ve also included the NYSE Bitcoin index … it’s data isn’t updated yet but you can see that it also ran smack into the GRAVITY CENTER. (I used the technique taught to us in elementary school on how to make a circle using three points. (dead serious).  Again, for you my loyal readers, I didn’t know if it would work. You get to the point where you can ‘see it’ …

For now … man, it’s great to get on the rocket ship and ride it but there was always a REASON we landed w/ 2000 lbs of gas.  Always .. because if you ran out of gas, your screwed. When parabolic blast off end they don’t end w/ a whimper .. .they THUMP hard.

Caveat Emptor for the Bitcoin craze ….

Bart

BITCOIN Investment Trust … why did it stop today?

05/25/2017 – I hate to do the ‘could have and would have and should have’ when using charts. Those of you who have been following me know that. I wanted to get to this chart before the open to just give it a shot … was on travel and in the airport yesterday and I kept seeing the PARABOLIC ROCKET SHIP of BITCOIN …couldn’t wait to throw some geometry on the chart.

When we see parabolic moves – THINK LOGS.  It’s why the darn things were created in the first place.

As you can see below .. we are stretched and could go higher but today it ran smack into a LOG AB=CD and a key LOG trend line .. resistance was to be expected. You can also see – and why not – that there is another set of targets higher.  I’ve also included the NYSE Bitcoin index … it’s data isn’t updated yet but you can see that it also ran smack into the GRAVITY CENTER. (I used the technique taught to us in elementary school on how to make a circle using three points. (dead serious).  Again, for you my loyal readers, I didn’t know if it would work. You get to the point where you can ‘see it’ …

For now … man, it’s great to get on the rocket ship and ride it but there was always a REASON we landed w/ 2000 lbs of gas.  Always .. because if you ran out of gas, your screwed. When parabolic blast off end they don’t end w/ a whimper .. .they THUMP hard.

Caveat Emptor for the Bitcoin craze ….

Bart