BTCUSDT 21400 Macro Update: EW & The 4yr Cycle Aug21 2022 #34
BTCUSDT 21400 Macro Weekly Update based on EW August 21 2022 #34
BTCUSDT on the macro level:
It appears that the current wave (from 69k and down) could be looked at as an isolated bear market.
This means the entire move from 3100k (from Dec2018 lows) to 69k (the top on Nov2021) was the full blown Bull Market.
If compared to the last bull market (from Jan2015 bottom 150 to December 2017 Top 20k), they both lasted for 1066days.
This makes it a valid argument to reject the 4years cycle.
Each 4year cycle will be preceded/followed by a bear market.
The last 2bears markets (2014 & 2018 ) both lasted for 418 and 368 days respectively or an average of 393days.
If we plug that number to our current bear market cycle from the November 2021 top at 69k, it "predicts/projects" a probable bottom/reversal to start sometimes in Dec2022.
Therefore, I will continue to monitor the current trend for any signs of a macro reversal going into Q12023.
BTCUSDT on the macro level:
It appears that the current wave (from 69k and down) could be looked at as an isolated bear market.
This means the entire move from 3100k (from Dec2018 lows) to 69k (the top on Nov2021) was the full blown Bull Market.
If compared to the last bull market (from Jan2015 bottom 150 to December 2017 Top 20k), they both lasted for 1066days.
This makes it a valid argument to reject the 4years cycle.
Each 4year cycle will be preceded/followed by a bear market.
The last 2bears markets (2014 & 2018 ) both lasted for 418 and 368 days respectively or an average of 393days.
If we plug that number to our current bear market cycle from the November 2021 top at 69k, it "predicts/projects" a probable bottom/reversal to start sometimes in Dec2022.
Therefore, I will continue to monitor the current trend for any signs of a macro reversal going into Q12023.
