We Will NOT Hit $16k by Year End as Some Are Saying! Here's Why
#1 - The Composite Group(s) do not want their taxes for 2019 to be too "involved" with too many "entries" on their spreadsheet for having sold an asset or commodity. They would rather wait until the next tax year of 2020 in my opinion.
#2 - The Composite Group(s) would rather maintain a low trading range a while longer to squeeze shorts while continuing to accumulate.
#3 - When comparing the White Energy in the 2-Week time frame to 2012 and 2013, we can see at least four (4) 2-Week Candles in 2012 and five (5) 2-Week candles in 2013 passed by before we FINALLY began to go up exponentially.
I've marked my position as "Long" for this long term analysis. I have not elaborated what may occur in the short term. Such as the 1h, 4h or 6h time frames.
So, in my honest opinion, I do not anticipate a significant move up to $16k by year end. We are certainly still bullish. We are just not EXPONENTIAL bullish yet. This will still take quite a bit of time. Many will grow impatient during this time and allow emotions to dictate their trading activity. Do not fall into that trap. Simply remain patient... High volatility will return soon enough.
Thanks for investing your valuable time out of your day to watch this video. If you will take a moment to click like, it would certainly be appreciated.
Happy Trading, Everyone and Stay Awesome! ; )
David
#2 - The Composite Group(s) would rather maintain a low trading range a while longer to squeeze shorts while continuing to accumulate.
#3 - When comparing the White Energy in the 2-Week time frame to 2012 and 2013, we can see at least four (4) 2-Week Candles in 2012 and five (5) 2-Week candles in 2013 passed by before we FINALLY began to go up exponentially.
I've marked my position as "Long" for this long term analysis. I have not elaborated what may occur in the short term. Such as the 1h, 4h or 6h time frames.
So, in my honest opinion, I do not anticipate a significant move up to $16k by year end. We are certainly still bullish. We are just not EXPONENTIAL bullish yet. This will still take quite a bit of time. Many will grow impatient during this time and allow emotions to dictate their trading activity. Do not fall into that trap. Simply remain patient... High volatility will return soon enough.
Thanks for investing your valuable time out of your day to watch this video. If you will take a moment to click like, it would certainly be appreciated.
Happy Trading, Everyone and Stay Awesome! ; )
David
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I'm going to fix a pot of coffee and do another video to provide a more detailed explanation as to WHY I believe we likely will NOT go below $8,500 and WHY we will likely NOT go above $16k by year end. NOTE: I said "likely..." Anyway, let me fix a pot of coffee and I'll get to work on that video.
