How High Can Bitcoin Rise Within Current Rally?

⚾PRE GAME WARMUP

It's turnaround Tuesday...

The overnight team decided to run up field a little, creating the appearance of a follow through day from Monday's flush and recovery. Let's say that continues. [Login Here] is overhead resistance and will also be our early bull pivot.

Above on candle closes and the door opens for yesterdays highs at [Login Here]. Above and the door opens for another leg higher that will be handled in a real time formation as and if needed...

The flip side situation is not getting above the bull pivot which keeps the door open to fall back to [Login Here] give or take. Below last nights close is the failure situation where markets begin treading on thin ice.

The thin ice numbers will be posted as and if needed based on the price action, later...

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🎬THINK IN PICTURES

Yesterday in the LIVE Trading room we discussed the chart of Bitcoin. We determined the next place on a continued rally was around $34,400 and what do you know, here they are today. Funny how that works.

So what’s the next major target on a continued rise, if they really get going?

Below you’ll see a zone around $10,000 higher than it is today…

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💣RECKONOMICS

It’s what Mrs. Market says, not what the talking heads say

Narcissism is a personality disorder where a person has an unreasonably high sense of their own importance. They generally lack the ability to understand or care about the feelings of others.

Imagine being one of the most powerful people in monetary policy making land. You’re a Federal Reserve Governor and hold they keys to interest rates in arguably the largest economy in the world. These rates determine how quickly or slowly growth happens, how much inflation or deflation is in the air and many fractals within affecting millions of hard working, unassuming Americans.

Now we have Fed Governors forecasting when the next interest “down” cycle, or interest rate cuts will begin. What these people don’t realize and can’t see through their own bubble is they are controlled rather than in control.

They forget who created the problem because they were wrong for too long. They forget who hasn’t been able to solve the problem they said would not become a problem. They lose sight of the fact they haven’t been able to forecast correctly for decades.

To project when interest rate cuts will occur is a form of narcissism because they don’t realize they are the dog getting wagged by the markets.

Mrs. Market will determine when interest rate cuts will occur, she will let everyone know it’s time by driving equity prices low enough to the point of forcing the Fed to take action in response to “pressure” from the market place.

It’s all good though. When this does occur, they’ll be quick to take credit for a market rally (from lower prices than today) as they swoop down in their money printing helicopter to drop fresh newly minted dollars on the problem.

Stay tuned…

🩺PSYCH WARD

Is what you hear always what was said?

Today we’re talkin’ targets, whether you’re long or short…

Many traders and investors that watch the videos at night, participate InsideTheNumbers or in the LIVE Trading Room may hear one thing vs. what was actually said.

How is this possible?

Let’s take an example: The market found a bottom, we purchased a long position and it’s working like a charm. Traders are in a “risk free, emotionless trade.”

Next comes “resistance.” If we’re in a long trade, for sure resistance means exit at least another portion of the trade…

Here’s where some people go wrong. They hear resistance and don’t consider the term exit, but think immediately it’s a short trade for another decline.

While that might be true sometimes, we always consider several factors of the current state of the tape…

Did they just hit a very important, big time number on the downside? Is it that middle part of the day also knows as “short trade torture time?” Is it just a weigh station on the way to another really important number to be reached later? Is the market stretched and ripe for a squeeze operation?

Not all resistance numbers are bonified short trades. Some are, some are not…

Resistance doesn’t always mean reversal, sometimes it just means resistance for a while until Mrs. Market can build enough energy to push higher, later…

We discuss these and many more trading emotions and psychology in the LIVE Room every day.

🏆MEMBERS SAYIN’

Was in and out in under 45 minutes. I was able to enjoy the rest of my day with my family. Thank you. Jory J.

Easy money in the live room today. 17 points per cup of coffee. Two cups for me and then went about my day. Really feeling privileged to be guided by this guy. Bob V.

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DISCLAIMER STUFF: Nothing found in this communication is financial advice. This newsletter is strictly educational and not intended for or should be thought of as investment advice or a solicitation to buy or sell any assets or to make any financial decisions whatsoever. Please be careful and always do your own homework.