Bitcoin continues to tumble and is on the cusp of completing the relief rally (a counter trend rally in a macro down trend). Closes under support around $86k-$89k would almost seal the deal on finally invalidating the latest narratives of "5-year" cycles and "business cycles".
I don't think BTC will go down without a fight, plus there is probably 1-2 weeks left to see what the bulls have in them with this rally before they, too, give up.
As I always say, there are no guarantees in the markets; only probabilities, and it seems the probabilities have been to the downside for over 3 months.
This isn't all "doom" news. The bright side is we are that much closer to a low range, which is a good opportunity for buying "cheap" assets.
More info in today's update 👇
🔴 https://t.co/FcEKtCvtxG
Bitcoin 5 and 10-year composite cycle. Gann always said to watch these time frames for repeating (rhyming) patterns. I'll cover this in more detail in today's video update #BTC#crypto
→ Reshare for future reference ♻️