It wasn’t too far back when people were predicting Bitcoin (BTC) to head for the abyss.
Right now, the crypto landscape resembles a superhero movie where the champions of freedom stage a comeback for the ages.
Continuing on our theme of using the work of technical analysts from the early 20th century, we are now looking at the work of William Gann. Gann was a mathematical genius who made over $50 million trading stocks in the late 1920s and 1930s. His work is mysterious and incredibly powerful. The power of the work comes from the fact that very few people know how to use his methods. To really know the work, the techniques have to be handed down from teacher to student to teacher.
The good news is we have obtained such knowledge. We have a broad array of Gann tools. Some of them involve charts drawn by hand. Others involve a tool that allows for timing of big moves.
Our work can be summed up in one chart. Looking at a daily chart of Bitcoin from Bitstamp, we see there is no real resistance until either $9,500 or $10,000 (Figure 1).
Bottom Line: If Bitcoin (BTC) holds above $7,600, the move has only begun. The heroic return of crypto could be at hand.
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