$ETH Update:
Trendline now set.
People got annoyed at this but a low is coming late this year...
The only question is, is that low below the prior 4 year low? Or a significantly higher low?
Bitcoin is bouncing off the power law support line like clockwork. Fair value is $178,000.
We barely even touched fair value last cycle. This thing is a coiled spring. Buckle up.
The blissful moment of coming home at night is when the lights are just like this, and the pleasant scent makes all the fatigue of the day disappear. #DailyLife#Life
It's looking very likely now that the bottom is in.
Not sure what anyone else needs to see here.
We have just sliced through the 200D SMA like butter, breaking structure above $65,000 and absolutely flying up towards $74,000.
You don't have to study the previous cycle bottoms very long to see that this is exactly how Bitcoin behaves once it's ready for higher.
The last 4 times Bitcoin has broken back above the 1D SMA it has gone to:
2019: 124%
2020: 724%
2023: 511%
And as this is a mid cycle correction, our path back to ATH will be much faster than the 4 year cycle fanatics understand.
Unless some insane black swan happens between now and Sunday, and we drop back below $65,000...
The case for the bottom being in has is grown hard to ignore.
After such a fast move and pushing into very key resistance at $74,000, I expect this move to cool off for a bit soon.
But not too much.
Mid cycle run it backs are fast.
what actually makes people rich in $BTC?
it's buying within 15% of a bottom and selling within 15% of the top, enough times in a row.
this signal has fired 4 times in 10 years and put you inside 15% of the low every time.
JUST IN: 🇺🇸 Senator Angela Alsobrooks on the Clarity Act vote getting delayed:
"We’ve worked for over a year on a bipartisan basis...We will continue our work — getting the Clarity Act right remains our goal." 👏