Bitcoin the the Moon?

For the past decade plus all the way to 2021, Bitcoin carved out a massive impulse for the ages. Starting from nothing and ending around $70,000. Alas, all good things come to an end. While their are certainly bullish cases to be made, this count is in actuality, the most bullish. Although people won't accept it for that. The count assumes a cycle degree wave 1 top around 70K and since then has been carving out a zigzag retracement for wave 2. I'm going to leave the labeling as is for now, but with the newest break of the intermediate level high at 32k, the case for a simple zigzag has been made more short term bearish from a probability perspective. A B wave should not retrace so much of the previous wave that prospectors become more bullish then they were at the all time high. What that is an indication of is a second wave. So more likely what we are seeing develop is the later stages of wave 2. A topic I will get into at a later date. In the mean time. The shallow retracement of the primary B wave in blue, suggests that it isn't a second wave to the moon. It suggests that it is a B wave retracement to make less informed investors THINK that bitcoin is going to the moon. Time will tell of course, but we are proprietors of probability after all.