It's the Grand National! Let's have a Bitcoin bet

It’s the Grand National today, a national event in the UK when everyone puts on a bet and stops talking about Brexit for just one fucking day!

So, in the spirit of gambling let’s take a look at the crypto market from the view of a good old fashioned bet. Consider me a horse whisperer for the day and the information shown below is my copy of the racing post... What would a betting man consider?

First consider my weak points. Technical analysis is not a particular strength of mine and unlike most of people on Twitter I accept this. As this is the case a longer term view increases my odds of success.

Next let’s look at the general pattern of Bitcoin, it tends to move in parabolic moves up and massive 85%+ retraces but is the general momentum of the market in our favour?

You’re damn right it is...

Next, having gone through the most recent a parabolic rise have we made at least an 85% retracement?

You’re God damn right we have...

Are we seeing using basic technical analysis, the early signals of reversal patterns?

Ascending triangle + Adam & Eve = You bet your bottom dollar we have...

Are any world renowned technical analysts taking note of the above and indicating that the market could have bottomed and be on the verge of further upside?

Wallop...

Now, let us consider the risks.

• Do I think Bitcoin will go to zero? Bollocks!
• Could the market hit $3100 again or could we even see a quick shake out to lower prices? Of course but this is a year+ bet and as we said above, general market momentum is in our favour.

Conclusion:
If this were a horse I’d call it Redrum and give it the best odds of 1/1.

Actions? All in!

Upvote and re-steem you filthy gamblers you