A Scary Time for Bitcoin and Stock Markets?

A Scary Time for Bitcoin and Stock Markets?

how does Alessi Ariston of leading Treader hope you're well with a quick update for you on Bitcoin and the major stock markets in fact in this particular video we're gonna take a look also at the Halloween effect and what Halloween means for the markets as well quite an interesting chart I want to show you here in just a few moments okay let's take a look first of all at this chart of Bitcoin now nothing really has happened much since my last update on Bitcoin we can see that Bitcoin still is trailing sideways and this sort of consolidation pattern and we're just gonna wait and see how this pulse eventually is gonna fire now all I want to say about Bitcoin is simply this and it's important just keep it very simple that I still maintain my bullish stamps on Bitcoin I have not changed my mind about that that I mean my position is simply this that as long as Bitcoin can remain above 6,200 so as long as Bitcoin can protect and stay above 6200 the path of least resistance and I think the more likely probability is that Bitcoin will likely move to the upside and break above 6,800 that is what I think is likely to happen so I remain bullish on Bitcoin from October to December as long as Bitcoin remains above 6,200 all right guys that's pure and simple my position on Bitcoin and here's another thing a lot of folks right now are extremely bearish on Bitcoin I mean guys you only have to read the comments below this video to find out how bearish and negative people are about Bitcoin a lot of folks out there still think that bitcoin is going to drop significantly lower look they may be right but I think that the fact that so many people are bearish on Bitcoin right now that actually is a good contrarian signal for Bitcoin let's not forget that now let's just also mention something else here which is the Halloween effect now what is the Halloween effect this is important and I think every investor anybody out there who is interested in the markets doesn't matter if it's Bitcoin or stock markets you really need to know about what's what's the Halloween effect by the way if you haven't seen this film the new remake of Halloween go see it it's a fantastic film and if you like me like the horror genre you know horror films and especially the Halloween franchise then you're gonna love this new Halloween remake it's absolutely fantastic I especially love the beginning of the film when they show that the very famous Halloween music with the pumpkin I thought it was great but anyway the Halloween effect by the way simply is this and it's really some to understand which is that the period from October to December okay and again this has been a pattern that has been recorded since 1896 so guys we have over a centuries of statistics based on this one pattern okay and the pattern is what and again this has been recorded on the Dow and also on the SNP as well which is that the period from October November to December is seasonally very strong okay and I am NOT gonna bet against that let me just say this if you continuously bet against the stock market in other words if you go short on a stock market between the period from October to December you're far more likely to lose money than to make money all right so it's a dangerous time to be negative and indeed bearish on the stock market from between October to December now that does not mean that there won't be volatility there will be volatility there will be glitches and ups and downs but the general trend and the force at the market is usually bullish between this October again from Halloween from October 31st to December ok so that's important to appreciate and that's why it's called a Halloween effect now this is an important chart because it tells you what the Halloween indicator is in other words if you simply follow the rule of sell in May and go away okay in other words if you just enter the market from October from the Halloween period and then you sold in May you're far more likely to make bigger returns as you can see here then someone who did straight buy and hold so you can see the person that's buying hold is like to make less money than someone who follows the Halloween indicator in other words someone who enters the market towards the end of October towards Halloween and then sells in May alright so that's a very interesting thing to bear in mind what does any of this mean it means this if we just go now to the chart of the S&P here's what we can see here on this chart of the S&P there's likely to be a bottom here between October to November I'd say perhaps by the end of October towards Halloween we're elected to form a bottom here on the stock markets and once the bottom forms we're likely to see strength going into December okay so my target remember guys my target the stock market still remains we're at 3,000 I mentioned this in many videos ago in other words I believe that by December we're likely to move towards the 3,000 target that I told you about okay so that's my plan for the stock market I think very likely we're gonna see more volatility I don't think the market has yet form the bottom but I think we are gonna form a bottom very soon and then from the end of October to December we're gonna start the rally strength to get to that 3,000 target thank you very much indeed for watching this video health please give a thumbs up and also please subscribe for future updates thanks a lot you


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