BitcoinShort
We´re in a Bull trap, end of the (longer) bull-market
I'm really new to this so bear ( ; ) ) with me:
This probably isn't a novel idea, I just haven't heard being said (although the number 24k has been going around).
I've read opinions about BItcoins cycle length being "about 4 years" although the most comment sentiment seems to be, that we have entered a new bullish market since July.
Just looking at the chart from a macro point of view, I see the same fractal going on, running up in multiple impulse waves to a scaled up version of the earliest well defined cycle.
GANN box over the entire course, puts us back to 24k in fib, trading sideways (but slightly up), then moving towards an even higher upside.
... Considering the BTC is traded as a scarcity, we expect a linear diagonally path upward, which brings us to lower lows, taking into account increased participation in the market.
Resulting in a not so fully pull to the downside (even though it has historically been on average 85% for BTC, which would price it at 12k-ish.
I'm guessing the retracement will become less harsh due to exponentially decreasing market inflows of supply.
The flattening of the curve, which is almost upon us.
So my suggestion is that, even though the COVID dip could be defined as an impulsive, seemingly "random" (contra normal efficient market cycle) event, we saw a quick shot back at the upside.
This can be understood as a bull-cycle, now progressing further down into a bear-market.
My guess is it will starting it's trend of impulsive waves after another sharp drop to 30k, landing on 24k, then moving sideways for a relaunch.
Thoughts?
This probably isn't a novel idea, I just haven't heard being said (although the number 24k has been going around).
I've read opinions about BItcoins cycle length being "about 4 years" although the most comment sentiment seems to be, that we have entered a new bullish market since July.
Just looking at the chart from a macro point of view, I see the same fractal going on, running up in multiple impulse waves to a scaled up version of the earliest well defined cycle.
GANN box over the entire course, puts us back to 24k in fib, trading sideways (but slightly up), then moving towards an even higher upside.
... Considering the BTC is traded as a scarcity, we expect a linear diagonally path upward, which brings us to lower lows, taking into account increased participation in the market.
Resulting in a not so fully pull to the downside (even though it has historically been on average 85% for BTC, which would price it at 12k-ish.
I'm guessing the retracement will become less harsh due to exponentially decreasing market inflows of supply.
The flattening of the curve, which is almost upon us.
So my suggestion is that, even though the COVID dip could be defined as an impulsive, seemingly "random" (contra normal efficient market cycle) event, we saw a quick shot back at the upside.
This can be understood as a bull-cycle, now progressing further down into a bear-market.
My guess is it will starting it's trend of impulsive waves after another sharp drop to 30k, landing on 24k, then moving sideways for a relaunch.
Thoughts?
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