Weekly we are seeing Smart Money announce that they have invested in Bitcoin. But the kicker is they are also announcing that they have been long Bitcoin for years. Ricardo of Mexico is no different. Everybody knows by now that he announced that 10% of his wealth is in Bitcoin, but many may not know he got into Bitcoin in 2016 when the price was $800. So how did Ricardo make his bag...runs the number two Mexican TV broadcaster, TV Azteca, and retailer Grupo Elektra and Electra is a publicly traded company.
In this video I use line charts to show how Bitcoin and the Mexico Peso are inversely correlated. In this video, I also introduce the counter trendline.
https://money.yahoo.com/mexico-second-richest-man-reveals-081545820.html
▶️ 3Speak
Hi @rollandthomas
You bring up several good points about the Smart Money ! I think many were slowly accumulating it, and now they announce it as it’s about to Moon. That’s why they are rich.
I had trouble with the charting part of the video, it didn’t stay on your charts and jumped back to the video of the banks throwing away the Pesos. It also repeated your introduction of the rich guy.
@shortsegments
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Looked at the video again, the charts were suppose to be line charts vs candlesticks charts, is this what you were referring to?
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It was stuck in a loop when I watched it and the charts never came up. I will watch it again and let you know.
Thanks
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Agree, that's why the are rich...we just need to follow what they are doing. Thanks for the feedback, let me check the video to see what happen.
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Hi @rollandthomas
I watched it again and the repeating loop of the bank throwing money is gone and I can see your charts. I think I understand what you meant by crossing of upward and downward trendiness. Do you trade this way for both your entry points and exit points?
I know that Bitcoin may be the exception where you may not sell it.
I also listened to your video on institutions selling large amounts at limit prices into market changes which don't allow them to exit quickly due to the size of their holdings. I think you called it monthly demand or supply. I guess you like all traders combine your indicators in your decision process for entry and exit. I need to listen to it again, it sounds like a variation of price reversion to the mean, but since you use the term supply and volume I need to listen again so I understand better.
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