BitcoinShort
Let's talk Bitcoin Quarterly Theory for the remaining of 2024
Updated
We finally have some worthwhile movement to consider a position from.
We are currently in Q3, the 1st QT was an "X" phase, with Q2 being Accumulation. This is the 3rd quarter, and by definition after a Q2 accumulation, Q3 is always a manipulation.
The problem with manipulation of course is, what is it manipulating, and where is it manipulating towards?
Price is showing a clear downside by clearing a low with displacement. The question now is where to short from?
Quarterly theory provides some great points to look at, which is usually around True Opening ranges and clearance of liquidity.
In our scenario, the liquidity to clear is above the True Opens on the high side. A likely scenario is price clearing the high created at 70,000 on July 29th, and/or clearing the ATH highs before the swing back down. Be ready to short Bitcoin.
Also on the much bigger picture, in the 4 year cycle between 2021 and ending 2025, 2024-2025 the last quarter is currently in an "X" pattern.
This X pattern is either a reversal or a continuation... From the looks of things, there is the possibility that this year will turn out to be a reversal. There may be a stronger downside than most people are anticipating.
We are currently in Q3, the 1st QT was an "X" phase, with Q2 being Accumulation. This is the 3rd quarter, and by definition after a Q2 accumulation, Q3 is always a manipulation.
The problem with manipulation of course is, what is it manipulating, and where is it manipulating towards?
Price is showing a clear downside by clearing a low with displacement. The question now is where to short from?
Quarterly theory provides some great points to look at, which is usually around True Opening ranges and clearance of liquidity.
In our scenario, the liquidity to clear is above the True Opens on the high side. A likely scenario is price clearing the high created at 70,000 on July 29th, and/or clearing the ATH highs before the swing back down. Be ready to short Bitcoin.
Also on the much bigger picture, in the 4 year cycle between 2021 and ending 2025, 2024-2025 the last quarter is currently in an "X" pattern.
This X pattern is either a reversal or a continuation... From the looks of things, there is the possibility that this year will turn out to be a reversal. There may be a stronger downside than most people are anticipating.
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Trade us active! Let's do it...
Modify STOP to 59,300
Note
Please note the the above position entry was meant for a different chart!!!
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