Failure vs Non Failure Swing; Exhaustion Gap
Two possible outcomes of the current wave pattern:
The Orange pattern indicates a Non Failure swing correction (price didn't fail to break to new highs above wave 5). While the Blue pattern is a failure swing correction.
I prefer Orange since it appears that an additional wave exists following wave 3 and before the current impulsive wave.
If the Orange path is accurate then the correction is likely to occur below wave 5 (<~5555). Presenting the opportunity to short beneath 5800. Resistance usually forms below A (5000), but it could bounce up to the mid 5000s in this case because of the hyper extended B wave.
The strongest demand zone contains the psychologically significant number 3333. A lower demand zone is above the 2018 low at around 3100.
If light blue is considered the breakaway gap, purple the runaway and orange the exhaustion, then the orange gap should be filled. This will likely result in a correction to the mid 5000s at least, but probably much lower.
I think that this correction will occur during the initial periods of the much larger correction in the equities markets. The DJI has just formed a triple top after breaking down on the 4th hyperwave trendline. This, in my mind, is the end of the beginning for a new financial system. Bitcoin appears to be the zygote of this unborn fiscal revolution.
Humanity id undergoing a communication revolution, which I believe will lead to a economic revolution since the market is essentially a form of communication. Efficient and sustainable economic coordination is aided by a common and stable store of value, but a revolt is required for this to be achieved.
I don't think that Bitcoin will be the world's future value store, but I believe it will undermine the current global Store of Value (SoV): USD, as a direct result of that expectation. Bitcoin is the constructive interference (the splash) formed by the collapsing hyperwave of the global economy.
The Orange pattern indicates a Non Failure swing correction (price didn't fail to break to new highs above wave 5). While the Blue pattern is a failure swing correction.
I prefer Orange since it appears that an additional wave exists following wave 3 and before the current impulsive wave.
If the Orange path is accurate then the correction is likely to occur below wave 5 (<~5555). Presenting the opportunity to short beneath 5800. Resistance usually forms below A (5000), but it could bounce up to the mid 5000s in this case because of the hyper extended B wave.
The strongest demand zone contains the psychologically significant number 3333. A lower demand zone is above the 2018 low at around 3100.
If light blue is considered the breakaway gap, purple the runaway and orange the exhaustion, then the orange gap should be filled. This will likely result in a correction to the mid 5000s at least, but probably much lower.
I think that this correction will occur during the initial periods of the much larger correction in the equities markets. The DJI has just formed a triple top after breaking down on the 4th hyperwave trendline. This, in my mind, is the end of the beginning for a new financial system. Bitcoin appears to be the zygote of this unborn fiscal revolution.
Humanity id undergoing a communication revolution, which I believe will lead to a economic revolution since the market is essentially a form of communication. Efficient and sustainable economic coordination is aided by a common and stable store of value, but a revolt is required for this to be achieved.
I don't think that Bitcoin will be the world's future value store, but I believe it will undermine the current global Store of Value (SoV): USD, as a direct result of that expectation. Bitcoin is the constructive interference (the splash) formed by the collapsing hyperwave of the global economy.
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