Bitcoin Overall: More 'Sideways' for Now (short trade 1.6RR)
2025-01-29
Category: None

Unfortunately, that 'little retracement' I mentioned last Bitcoin Overall turned out to be a bit larger, testing the higher of the indicated supports. Thus, there is reason to believe the corrective phase will last longer and may even cut deeper than I expected.

I believe this means we are likely to head lower again before moving higher. How low...I don't know for certain, however it should hold the lower supports indicated at a minimum before moving higher. How far the market declines will indicate what it will do next.

Regardless, we should still be in a bull market, so new ATH is to be expected. I simply think it will take longer now.

Indicated is a likely sequence of events--the next 5 relevant swings, as far as I can surmise.

According to my schema, a short is in the near future, as indicated. could go deeper, this is a fairly safe exit however.