If this is what could still be ahead, then why exactly is sentiment so bearish? For one, bearish sentiment is often the driver of a wave five.
Sentiment is so bearish because it has taken almost twice as long to go exactly nowhere.
The intra-cycle peaks on the RSI as the wave three top puts in a potential wave four bottom at roughly the same exact price as it was 14 months ago.
In a world where instant gratification is commonplace, Bitcoin was expected to already be more than $100K, a war is waging, an economic crisis is looming, and more — no wonder why the masses are so bearish on Bitcoin.
The idea is that after all this time of sideways, the market has overpriced in any downside, and instead the market corrects to the upside in a dramatic bang.
While a firm believer in the laws governing math and science, I am profoundly fascinated by the impact of astrology and astronomy including moon and solar cycles and planetary alignment and their ability to influence and potentially predict markets.
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