With Mark Wood
2 posts • Page 1 of 1
Yo Yo Everyone,
First Entry. 1.16.2021 6:25EST and the current price of BTC is $49,101 after wicking above $50K yesterday. I'll get into more details later but this is the main guide I'll refer to with each weekly close. I'm constantly keeping track of the overall trend direction and also trying to define the trend on various timeframes. In doing so it helps find ideas of confluence and confirmation for entries, exits, or just keeping with the bias of the overall trend. Tyler Jenks insisted on staying on the right side of the trend until the end of the trend. This teaches patience and can prevent emotional reactions when price is moving quickly. The candle closes on the timeframes you are watching are what matter most and sometimes waiting for a daily, 3D or weekly candle to close can seem like forever but it prevents bad decisions from being made.
This chart I created I believe at the end of 2019 and haven't altered it except to add one idea having to do with PlanB's stock to flow price target in 2025 which is......checks website.....$5M......https://digitalik.net/btc/s2fx Here's a link to the log growth chart: https://www.tradingview.com/x/0yw0Vb26/ The white moving average is the weekly 200SMA, yellow is 21EMA and orange is 9EMA. Typically 9 and 21EMAs are support during the bull runs and so far the 9EMA has held as support since early October 2020. Last week's candle close was key for me because it closed above the band just above the middle pink band. This has been the catalyst to send the market to full send but also has required at least one decent correction which I do believe will be taking place soon(ish). Each time this has taken place price has trended to the top of the curve within the same year taking between 3 to 8 months to reach the top of the log curve. This would suggest prices above 100K somewhere between 130-150K in late fall to end of year 2021.
Next entry will be with drawings added showing an idea that can absolutely take BTC to the price target of $5M in 2025.
Last edited by Gatortpt221 on Thu Feb 18, 2021 9:20 pm, edited 1 time in total.