Here we can see the PI cycle top flashed early much like 2013
In 2013 it was April fools day when BTC started its correction
BTC reached the Center point of logarithmic regression around July 1
This correction was only 3 months in length
I do see a similar pattern here, If this plays out like the super cycle in 2013
then my personal targets are:
Center of regression July 2021
second PI cycle top will be around oct-nov of 2021
followed by a bear market which takes BTC to 20k as the floor again
shaking out most retail and making it less affordable to accumulate
From there BTC will be on the journey of 1 million roughly a year after the 4th halving
It's important to note 4th halving will put rewards close to PI at 3.125
In 2013 it was April fools day when BTC started its correction
BTC reached the Center point of logarithmic regression around July 1
This correction was only 3 months in length
I do see a similar pattern here, If this plays out like the super cycle in 2013
then my personal targets are:
Center of regression July 2021
second PI cycle top will be around oct-nov of 2021
followed by a bear market which takes BTC to 20k as the floor again
shaking out most retail and making it less affordable to accumulate
From there BTC will be on the journey of 1 million roughly a year after the 4th halving
It's important to note 4th halving will put rewards close to PI at 3.125
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About to lose major support. 1-2 weeks
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denial phase
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Support turned resistance at the .618 and looking to find resistance at .786
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resistance met
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1 fib lines up with the 2017 ATH, will be looking for confirmation of support there if any, if 1 fib is lost .618 - .382 are my macro targets
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still within confluence of resistance
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⌛
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And this is why I short with 0 leverage, The current move up has solidified the bearish trend especially if bulls fail to hold here or above current levels. Wedge pattern has now been upgraded to a massive down trending bear flag. nothing new, same ole bitcoin
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Last update until 6 to 9 months from now, Remember this is Crypto, Not wall street, there is no federal reserve to help bail you out of being on the wrong side of inflation.
Price target $9865
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Extrapolated measure from May 10th high to May 17th low, Looking for another 70% move down
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Still 100% net short no margin, Another 50% decline where the price is currently will place BTC at the 2 year moving average multiple.
truly can't make this stuff up. Unbelievable.
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welp
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DXY gaining momentum
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Metcalfe law, trending lower
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watching the DXY looking for confirmation of support at the 91.50 level
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Unless DXY holds current range of 91.80 in the immediate term
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Not financial advice always do your own research educational purposes only under the right of fair use. I see no feasible low risk opportunity at current price action for Bitcoin. At this rate I may not be entering the market to provide liquidity until first to second quadrant of 2022.
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My Sentiment perspective still stands, Inflation for August came in hotter than I anticipated.
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Disbelief phase
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59,999 🤷♂️
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Time to Hold, not financial advice