bitcoin dips below 60kbitcoin dips below 60k, but we're unfazed.
i see this playing out as we move into the depths of winter,,,
this crypto winter ❄️
why would this happen, you ask?
the answer is simple: a stop-loss raid.
a sharp wave 4 designed to shake out weak hands.
distribution may have already started, hypothetically speaking, but it'll take the rest of the year to unfold.
think of it like the jan 2021 -> april 2021 vibe, only on a slightly higher degree and timeframe.
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take note of the highlighted wave 2's and wave 4's on my chart.
what i'm illustrating is "the law of alternation," which states:
if wave 2 is flat, wave 4 will be sharp, and vice versa.
all the wave 2's in this cycle have been flats,
so by design, all of our wave 4's are set to be sharps.
this fits neatly into the larger cycle:
sharp retracements triggered by over-leveraged positions,
yet consistently bought up thanks to strong demand.
with each sharp retracement, however, the upward moves become smaller,
as momentum gradually fades.
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w4 target: below 60k
w5 target: between 150k-200k (conservatively).
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ps. i have recently shared a much more bullish idea via:
