How scary you are to buy a Bitcoin right now
And what Halloween means for their 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 just sort of consolidation pattern and we're just going to wait and see how this pulse eventually is going to fire. Now, all I want to say about bitcoin is simply this and it's important just to keep it very simple that I still maintain my bullish stamps on bitcoin. I've not changed my mind about that. That I might position is simply this, that as long as bitcoin can remain above six to 200, so as long as bitcoin can protect and stay above 60 to 200, 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 six to 200. Alright 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 mentioned something else here, which is the Halloween effect. Now, what is the Halloween effect? This is important. Then I think every investor, anybody out there who is interested in the markets, it 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 as a fantastic film and if you like me like the horror genre horror films and especially the Halloween Franchise, then you're going to love this new Halloween remake. It's absolutely fantastic. I especially love the beginning of the film when they showed 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 simple to understand which is that the period from October to December. Okay. And again, this has been a pattern that has been recorded since 18, 96 guys. We have over a centuries have 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.
The smart way you should try to start Bitcoin trading with small amount of money
Okay? And I am not going to bet against that. And let me just say this, if you continuously bet against the stock market, in other words, if you go short on the 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 he did 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 of the market is usually bullish between this October again, from Halloween, from October 30, first to December. Okay? So that's important to appreciate them. 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 entered 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 that's straight buy and hold, so you can see the person that's buying hold his leg 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 cells in May.
All right, so that's a very interesting thing to bear in mind.
Thank you very much for watching this video health.
Please give it a thumbs up and if so, please subscribe for future updates. Thanks a lot.