ridethepig

ridethepig | The Long Road Turns to Joy

Long
ridethepig Updated   
BITMEX:XBTUSD.P   Bitcoin
In the realm of 2020, the struggle for freedom is identical to the struggle to shake off the latest resistance which is still bothering us, and for that reason our problem is reduced to a timing problem.

📌 We are going to dig deeper into the concept of liquidity warfare, as applied to that of positional game theory, as applied to swing trading. The attack is just a matter of "when".

The transition with "The Great Lockdown" is playing out as expected. Unemployment Claims are still maintaining pressure on the Global Economy and by doing so put the ideal of an advantage towards retail participation and a liquidity trap or bubble of posturing in Bitcoin. This advantage can be exploited either by riding the inflows towards large cap crypto's or the mid caps to a lesser extent.


The notes taken from our earlier Dollar macro chart, which is playing out accordingly to plan (i.e Powell artificial dollar devaluation) will give us an example of the shift away from government backed currencies. See the following chart, we are witnessing a digital migration as the stem game for a new monetary philosophy. Get long scarcity.


This sort of tendency, which toys with the idea to roll up the whole transition, should come as no surprise with the timing with confidence in the public sector is collapsing, and a shift of capital towards the private sector unfolding right on time for a decade of privatisation.

It is now important to take a retrospective look at Volatility after the earlier moves. VIX could and should have moved in the calmer waters, but sharp speculators are itching to complete a capitulation move towards 85 which is concerning for the more short-term view on BTC. The plan was:

1️⃣ Long Vix @ 11 in 2019
2️⃣ Covered @ 85 possible temporary top, e.g a retrace towards 25 was to be played
3️⃣ Long Vix again to advance in triumph

It is important to understand the effective relationship with VIX, confidence and economic cycles. When risk is being strangled it makes absolutely no difference to the BTC supply side; consequently what is really important for us to track is confidence in the public sector and whether and to what extent the latter causes inflows towards Cryptocurrencies.


To illustrate the inner flows, we should consider the following cup and handle as a base towards the 3rd impulsive leg. After Bitcoin significantly broke out of the log chart, we are unlocking the highs once more with $20,941, as a minimum target. What would be a risk to the move? Well, we have a lot of work still to be done in the $10,000 - $9,000 area, for good or ill, to leave scaffolding around the base. I am actively looking to buy this dip and eyeballing an ambitious momentum swing towards the highs.


Thanks as usual for keeping the feedback coming 👍 or 👎
Comment:
A quick update here for those following the inner flows:

Comment:
A quick chart update here as we flirt with the breakup:


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