BTC.D SHORT to 34.5%
Updated
• No real change from my original post on BTC.D SHORT.
• Just some minor adjustments to update the chart.
• Furthermore, I’ve put in Elliott waves to further highlight the similarities between this bullrun and the previous.
• Wave C will become more apparent when the 20W SMA crosses over the 21W EMA.
• By the way, as per my original post on BTC.D SHORT, NFTs are booming.
• Just some minor adjustments to update the chart.
• Furthermore, I’ve put in Elliott waves to further highlight the similarities between this bullrun and the previous.
• Wave C will become more apparent when the 20W SMA crosses over the 21W EMA.
• By the way, as per my original post on BTC.D SHORT, NFTs are booming.
Comment
OK. I'm not sure why the parallel channel appeared for no good reason on my chart. It's not supposed to be there.Comment
No change. Just an update to show how nicely the Fib levels have been working.Comment
• BTC.D cycle has lengthened.• Firstly, this is a good reminder that the crypto space is relatively new.
• Correspondingly, we should not be deterministic given how few data points we have.
• Thirdly, it is also a good reminder that forecasting tools that have only been validated against the US Stock Market might not wholly apply to the crypto space.
• Or, at the very least, these tools ought to be adapted for use in the crypto space.
Comment
• Just a simple progress update, but using line instead of candles.• Things are going as per planned.
• As per my Four Seasons Model, I still think BTC will peak in 1HCY22 (maybe 2QCY22), with BTC.D reaching ~34.5%.
• We need a BTC.D weekly close below 39.6%. This will probably happen after BTC recovers from the current doldrums, and gets back above ~53K.
Comment
Important milestone given the thesis: BTC.D just closed the weekly below 39.56%. Let's see if it holds.Related publications
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