Trader of classical charting principles since 1980. Author, #1 Amazon trading book Diary of a Professional Commodity Trader. Publisher of weekly Factor Service
Can you imagine how much taxpayer funding the lib lefties and United Nuts will want to reverse sun spotties?
Bitcoin takes aim at $100,000 target. $btcusd is experiencing its fourth parabolic phase dating back to 2010. No other market in my 45 years of trading has gone parabolic on a log chart in this manner. Bitcoin is a market like no other.
Either from Dec '18 low or from retest of same (circa analog dbl bottom in 2015) it would not surprise me if $BTC enters a new parabolic phase. $btcusd
Millennials embrace $BTC et al, in part, as reaction to $217 Tril of global debt and massive wealth inequality forced upon them by Gen X and B-Boomer parents and grandparents. Cryptos are statement: "There must be a better way"
The last time Factor's benchmark weekly MA was in the current profile of turning from down to up was in Nov 2015 just as $BTC began its move from $340 to $19,800.
People ask me why I trade Bitcoin $BTC Ask no more! In my 45-year trading career there has never been another market like Bitcoin.
Wow!!! $BTC challenging upper resistance line of parabolic advance. This is biggest bull market of my 43 years of as a trader.