Market Summary #3

There was correlation between GOLD, SPX and BTC. Don't judge me, Gold played role of a Grandfather, not the leader, but it defined the direction for all markets. SPX was not a bad parent, BTC just run away from him 😂, for that exactly, were we hoping for. Three generations:

Grandfather (imagine an old man in a mining farm)

Father (left-liberal silicon valley guy)

and Son (Rebel, Rebel)

BTC=>SPX=>Gold (BTC≠Gold)

SPX fell, it fell very fast. Yes, it was overpriced, but it found it's bottom for that moment. Same Descending wedge was created on Bitcoin. Coincidence? Philosophy behind descending wedges is not simple, wedge is not as common as reader might think, not every fall produces wedge, like not every Indian is a programmer. Wedge is volatile, for it to create, price needs to go up and down multiple times, leaving trader confused.

Descending wedge is bullish sign, combining that with Triangle on 4h time-frame and 4D Chart, Bitcoin had all reasons to grow.

What will happen next, time will tell Trade responsibly and manage risk I wish you the best.

when I started trading (3 years ago): $450

when I started the blog (16 April 2020): $5870

Today: $7600

Telegram: https://t.me/Konikko_telegram