✍️ Weekly Trade Plan & Recap 15th Jan - 19th Jan
Here's why Bitcoin could be about to enter a bear market. Plus analysis on the Dollar, metals and the S&P 500.
A fortnight ago, I mentioned that Coinbase stock could be an early indicator of a Bitcoin bear market.
Here’s the original chart showing the Bitcoin price (in orange) overlayed on a Weekly Coinbase chart. You can see that lower timeframe structure on the 15 minute inset chart turned at Supply.
And here’s how the current 15 minute chart is looking now, with that structure still marked…
Full disclosure here… I did try to short Bitcoin at Supply, however I was stopped out with some very choppy price action.
The choppy price action was largely due to rumours, denials and even the official SEC Twitter account supposedly being “hacked”.
Here’s the comment from the SEC account and another Twitter account’s timeline of events that occurred.
Yes, the SEC were playing very dirty last week!
OK, here’s one further chart before we move on to the members section…
Below is the weekly Bitcoin chart that I posted on Twitter showing when Bitcoin Futures went live on the CME (Chicago Mercantile Exchange) in December 2017.
The day those futures started trading on the CME was the day that signaled a top in the market and a subsequent dump from 20,000 to 3,000 in the space of just a year.
Fast forward to last week’s ETF fund approvals and I believe history is about to repeat itself. The Cabal (Blackrock, et. al.) who run the Fiat markets now have control over the crypto markets and can manipulate it to their hearts content. The day the ETFs started trading (11th Jan) was the day Bitcoin dropped almost $8,000.
Something tells me this wasn’t the vision for Bitcoin that Satoshi had in mind!
Back to the Fiat markets and we’ve been doing very well in Gold since this service started! So for members only, let’s take a look at this week’s analysis for the Dollar Index, Gold, Silver, Copper and the S&P 500. 👇🏼👇🏼👇🏼