Earlier this year, you had all the "expanded flat" lovers looking at the move and seeing this as one bit expanded flat. I humored the idea and had this alternate count in place for a while. Now that we've had the rejection, there's a few things to pay attention to.
Time cycles in the market refer to recurring patterns and rhythms in the behavior of financial markets over time. These cycles are typically seen as accurate indicators of future market movements and can be used to inform investment strategies. The June 2022 time cycle was a cycle high and the January 2023 time cycle was a cycle low. The half cycle is in April which I believe will be a low of sorts and then push into mid 2023 for the cycle high again.
Bitcoin was riding high on a wave of optimism as it neared the golden zone, but like a surfer who got a little too cocky, it may get wiped out and tumble towards a -23.6% extension target of $18,400. It's a tough break for Bitcoin, but at least it's not alone – the world's smallest violin is playing for all the investors who didn't take profits when they had the chance. In the meantime, Bitcoin can console itself by watching reruns of "The Office" and dreaming of the day when it can climb back up to its previous heights.
Maintaining below the golden zone (below $23,100) is ideal and would keep the door open for a move to the -23.6 extension which is also the golden zone of the entore 2023 bull move. Do this, and it would open the door for the massive cluster of algos sitting between $27,900 and $28,400 - which may be the top for Bitcoin in 2023. Just look at the battlefield up there. It would basically invalidate the expanded flat and would open the door to a simple ABC correction from the low in November 2022.
Well folks, until next time. I'll miss all of you almost as much as I'll miss pretending to work while scrolling through memes. But don't worry, I'll always be here in spirit, haunting the coffee machine and stealing your staplers. Keep on keeping on, and remember – life is too short to take yourself seriously!
Time cycles in the market refer to recurring patterns and rhythms in the behavior of financial markets over time. These cycles are typically seen as accurate indicators of future market movements and can be used to inform investment strategies. The June 2022 time cycle was a cycle high and the January 2023 time cycle was a cycle low. The half cycle is in April which I believe will be a low of sorts and then push into mid 2023 for the cycle high again.
Bitcoin was riding high on a wave of optimism as it neared the golden zone, but like a surfer who got a little too cocky, it may get wiped out and tumble towards a -23.6% extension target of $18,400. It's a tough break for Bitcoin, but at least it's not alone – the world's smallest violin is playing for all the investors who didn't take profits when they had the chance. In the meantime, Bitcoin can console itself by watching reruns of "The Office" and dreaming of the day when it can climb back up to its previous heights.
Maintaining below the golden zone (below $23,100) is ideal and would keep the door open for a move to the -23.6 extension which is also the golden zone of the entore 2023 bull move. Do this, and it would open the door for the massive cluster of algos sitting between $27,900 and $28,400 - which may be the top for Bitcoin in 2023. Just look at the battlefield up there. It would basically invalidate the expanded flat and would open the door to a simple ABC correction from the low in November 2022.
Well folks, until next time. I'll miss all of you almost as much as I'll miss pretending to work while scrolling through memes. But don't worry, I'll always be here in spirit, haunting the coffee machine and stealing your staplers. Keep on keeping on, and remember – life is too short to take yourself seriously!