How I place my bias on higher timeframes (within the 3-5 year business/macro cycle) - using composites (of assets and/or indicators) - all are shared regularly in discord:
1. General market tops
2. General market bottoms
3. Bitcoin miner/crypto stocks
4. Bitcoin and crypto
Nobody talks about the Chinese 10 year yield in Bitcoin circles. They should. Go back and look at every major Bitcoin run since inception. Same setup every time.
Chinese 10Y yield finds a floor, starts creeping higher, Bitcoin follows. Every. Single. Cycle. It's not random.
I've seen a lot of lazy people call me a permabull.
Would a permabull be able to trade in and out of a 3x levered $IREN ETF like this? No they wouldn't.
*Dots do not indicate size of buy/sell
*Do not take this as a trade recommendation. It is highly volatile
I remember months after the 15k bitcoin lows in 2022, people didn't want to bullieve.
Price went to 25k in early 2023 and retraced to 20k...
- At that time people were coming at me, saying there is no liquidity for the market to go up, and that we had to wait for "QE".
I see many are worried about yields and inflation going higher. This is a feature, not a bug, of bitcoin bull markets though.
On average, the U.S 10 year yields moves 1.50% higher before or during the bitcoin top.
1. Yields bottom
2. U.S ISM manufacturing bottoms
In 2 weeks we will have another MONTHLY BLUE MOON (the second full moon in a single calendar month).
Apart from 2018 where there was a double occurrence, every other time led to parabolic upside in bitcoin.
In previous cycles, bitcoin broke out around the same time as the $IWM Russell 2000.
This cycle, it frontran and was over extended (before IWM and other cyclicals had even broken out), so it mean reverted back to previous cycle highs.
Now the real fun can begin.