BTC - Reminder of what's next
Updated
Target is just shy of 40k. Long until mid-August. Full long comit on equity / emerging markets.
Folk should not be short here but many still are..
Best, Hard Forky
Final Drop to Target:
Stage 2 Drop to target:
The scenario developed in 2021 was based on historical (10 year) MA price interaction at market tops. Market Top interaction with the MA is not always exactly the same (so not a perfect indicator) but has typically been in 3 parts:
1. Support off 50 WMA
2. Break down and retest of 50 WMA
3. Break down away from 50 WMA
So far BTC has followed this hypothesis to the letter. As an extension a 4th stage is to retest the 50 WMA - currently trending towards
41K resistance (hence shifting long... temporarily)
Folk should not be short here but many still are..
Best, Hard Forky
Final Drop to Target:
Stage 2 Drop to target:
The scenario developed in 2021 was based on historical (10 year) MA price interaction at market tops. Market Top interaction with the MA is not always exactly the same (so not a perfect indicator) but has typically been in 3 parts:
1. Support off 50 WMA
2. Break down and retest of 50 WMA
3. Break down away from 50 WMA
So far BTC has followed this hypothesis to the letter. As an extension a 4th stage is to retest the 50 WMA - currently trending towards
41K resistance (hence shifting long... temporarily)Note
The rest is historyNote
Minro adaptations - current target now 38k
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