Good News: The Sky Isn’t Falling
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You understand that scene from S3E4 of It’s All the time Sunny In Philadelphia?
The one the place Frank pushes one of many McPoyle brothers off a roof?
…however then the digicam zooms out displaying it was lower than a one story drop, and we (as viewers) study that McPoyle was by no means in any actual hazard.
Yeah, properly there’s a lesson to be discovered there:
When unsure, zoom out.
The crypto markets really feel like they’re in a tricky spot proper now (they usually may properly be), however earlier than we go and hit the panic button — which we’ll do within the subsequent article — let’s set some context, by first zooming out.
Like, out out. Again to earlier bull runs.
What you’ll discover is that after hitting new all-time highs, Bitcoin tends to consolidate inside a variety, and ping-pong sideways for 4-5 months, earlier than transferring up once more.
Bitcoin reached its newest all-time excessive of ~$73k on March 13, 2024 — which implies July 13 (roughly) marks a possible starting for the crypto market’s subsequent leg up.
Is it an ideal predictor? No. It’s hand wavey as all heck!
The purpose of all this isn’t to foretell the underside of this short-term down pattern.
As an alternative, it’s a course of designed to maintain your feelings in examine.
Trigger it feels just like the crypto market is at the moment hanging by a thread, from a 100 story skyscraper…
However, for now, it’s nonetheless throughout the parameters of earlier bull cycle habits.
