road to 59k by mid May is still on track
Hi guys,
updated my chart a bit with the Justin Mamis Sentiment Cycle, you can google it and see the graphic how it looks like or check on my facebook page
but this looks like a repetition of the same cycle we did previously and I expect another big run in the coming few weeks
overlaying the Wyckoff theory on to this one, I still feel the same as I have been the past year after I saw us peak out at 69k, this is really starting to look like grand distribution overall rather than accumulation
and I think we will go through pretty rough period once again somewhere after mid May, but then once the FED puts on the printing machine again + bitcoin ETF spot is approved, I think we will go parabolic
hence, bullish long term either end of the year or first qtr 2023
a. bullish short term (until somewhere mid May)
b. bearish mid term (until somewhere end of of October)
c. bullish long term (end of year or first quarter 2023)
in short term, still expecting 59k range to form our LPSY
or we can outperform things and form a running flat correction or UTAD with target at 74k
those are the 2 scenarios I am still expecting since begin of this year, and I am awaiting to see what happens over the next few weeks :)
so don't be too bearish around here (unless of course we invalidate things and form a lower low)
happy trading!
-The Dang Oracle
updated my chart a bit with the Justin Mamis Sentiment Cycle, you can google it and see the graphic how it looks like or check on my facebook page
but this looks like a repetition of the same cycle we did previously and I expect another big run in the coming few weeks
overlaying the Wyckoff theory on to this one, I still feel the same as I have been the past year after I saw us peak out at 69k, this is really starting to look like grand distribution overall rather than accumulation
and I think we will go through pretty rough period once again somewhere after mid May, but then once the FED puts on the printing machine again + bitcoin ETF spot is approved, I think we will go parabolic
hence, bullish long term either end of the year or first qtr 2023
a. bullish short term (until somewhere mid May)
b. bearish mid term (until somewhere end of of October)
c. bullish long term (end of year or first quarter 2023)
in short term, still expecting 59k range to form our LPSY
or we can outperform things and form a running flat correction or UTAD with target at 74k
those are the 2 scenarios I am still expecting since begin of this year, and I am awaiting to see what happens over the next few weeks :)
so don't be too bearish around here (unless of course we invalidate things and form a lower low)
happy trading!
-The Dang Oracle
