This is me having fun. I do not claim to be an authority on Financial Astrology.
First issue: Why is the price consolidating at this price range?
I pulled a Gann Fan from the previous bear market low (3,156) to the November 2022 low (15,514). The 1/3 Gann angle is precisely at the current level of resistance.
This fact has profound implications. Why? Because a failure at this junction can take the price to as low as 37K, which is the 1/2 angle. The flip side of this coin is that Bitcoin can break resistance and proceed to make an ATH.
Is it likely? Not likely. Also, the Orange Angle seems more dominant, at least for now.
What about the moon? The days after a full moon are supposed to be bullish, and the days after a new moon are bearish. Simplistic, I know.
Let me suggest a possible scenario: Bitcoin breaks above the current consolidation range (Bull Flag) and makes it to 62K, which is the orange Gann angle resistance. After that, the new moon takes over, and we will begin the correction period, which will last until after the bitcoin halving (Buy the rumor; Sell the news). The yellow and orange Gann angles could provide support. 53K in the bullish scenario. 44K in the less bullish scenario.
This is an exercise in free thinking and extrapolation. Please take it for what it is.
Best Wishes
First issue: Why is the price consolidating at this price range?
I pulled a Gann Fan from the previous bear market low (3,156) to the November 2022 low (15,514). The 1/3 Gann angle is precisely at the current level of resistance.
This fact has profound implications. Why? Because a failure at this junction can take the price to as low as 37K, which is the 1/2 angle. The flip side of this coin is that Bitcoin can break resistance and proceed to make an ATH.
Is it likely? Not likely. Also, the Orange Angle seems more dominant, at least for now.
What about the moon? The days after a full moon are supposed to be bullish, and the days after a new moon are bearish. Simplistic, I know.
Let me suggest a possible scenario: Bitcoin breaks above the current consolidation range (Bull Flag) and makes it to 62K, which is the orange Gann angle resistance. After that, the new moon takes over, and we will begin the correction period, which will last until after the bitcoin halving (Buy the rumor; Sell the news). The yellow and orange Gann angles could provide support. 53K in the bullish scenario. 44K in the less bullish scenario.
This is an exercise in free thinking and extrapolation. Please take it for what it is.
Best Wishes
