REFINED Long-term fibanalysis/projection of major log BTC cycles
This is an updated version, 100k target seems to make much more sense mathematically and psychologically.
It's going to be interesting to see if stocks can recover on their own, or the Fed has to do any QE or cut yield rates in a vain attempt to pull stocks out of the bear trend they're in.
Historically, it'll already be too late by the time they do that. If the market doesn't tank, that emboldens the Fed to raise again, because they think that there must still be headroom.
With all major US stock indexes only just now finishing wave 4 down, we'll have to see what kind of correction there is after wave 5 and see how it fits with the timing of any trade war news and yield rate hikes.
The battle between Elliott and the Fed is getting close to a KO...
If I'd have to bet, it'd be that they're already done with rate hikes, but not by choice.
The REALLY interesting thing IMO is that the timing between BTC flipping bullishly and stocks bearishly is happening simultaneously.
With BTC throwing so many bullish signals, if stocks dump hard on this wave 5 and only take BTC down to the 200wsma along with it, enough people might realize what a safe haven BTC is in order to decouple it from stocks.
Either way, it's gonna be one helluva ride...
It's going to be interesting to see if stocks can recover on their own, or the Fed has to do any QE or cut yield rates in a vain attempt to pull stocks out of the bear trend they're in.
Historically, it'll already be too late by the time they do that. If the market doesn't tank, that emboldens the Fed to raise again, because they think that there must still be headroom.
With all major US stock indexes only just now finishing wave 4 down, we'll have to see what kind of correction there is after wave 5 and see how it fits with the timing of any trade war news and yield rate hikes.
The battle between Elliott and the Fed is getting close to a KO...
If I'd have to bet, it'd be that they're already done with rate hikes, but not by choice.
The REALLY interesting thing IMO is that the timing between BTC flipping bullishly and stocks bearishly is happening simultaneously.
With BTC throwing so many bullish signals, if stocks dump hard on this wave 5 and only take BTC down to the 200wsma along with it, enough people might realize what a safe haven BTC is in order to decouple it from stocks.
Either way, it's gonna be one helluva ride...
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.