This dip will last 5 more weeks
Yes, you heard it here first...
I am calling a 5-week continuation of the dip as of today.
That means by the 24th of January this neverending dip will be turning into an uptrend.
And no I am not impersonating yet another bullish cruptofluencer, I am just stating the obvious. I am following the trend is your friend and the chart does it´s part BS.
Off The Chart
So just simplifying and zooming out ...because when in doubt .....look at the weekly chart.
The May dip lasted 10 weeks...well if that´s a trend we can expect similar behavior during this dip. Last time the first 2 weeks were the first...makes me think of that song "First cut is the deepest" (in Dutch Cut means vagina, indeed that gives the song a whole other meaning, right?).
It looks like we are seeing the same now, the first 3 weeks were the worst and we now had 2 steady weeks. Previously it took 6 steady weeks in total to turn the accumulation phase around into bullish behavior.
What a Baby BS
That stupid baby thinks he can read charts and make sense of those...hahahaha
Well, no dear reader, I do not...but there is a big butt elephant in this virtual room.
That but is that this theory only supports what we all know....the self-fulfilling prophecy of another run before we enter the real bear market.
What´s that?
Well first of all the current dip originated by a squeeze of the longs combined with the fear of the O variant. Right now there are hardly any longs to squeeze and that O variant...well that seems dominant. A dominant variant is a crypto blessing because the last lockdown hurt everyone and everything but not the crypto-verse and we will see the same pattern this time.
Lockdown means people are sitting at home looking for a way to make money. Governments are printing money to support the people sitting at home. They can not go out, they can online shop online and that money has to go somewhere.
And if the Bitcoin falls the other way, meaning the O variant is more contagious but less deadly and we do not go into a lengthy lockdown, well in that case it will increase the speed of the global immunity and by doing so remove the fear.
So whatever our Friend Omikron will do...it is good for crypto.
But there is more
I am not like your local government all about corona, there is more to this. Right now people are spending cash to fill these dark days leading up to the new year with food and presents and well whatever else they need to fill the emptiness inside. But that will end soon. Also, we are at the end of the Tax year, hence people better spend some of their fortunes before being taxed.
This also goes for institutions not using a fiscal year, but the calendar year...and there is a lot of money waiting to enter the market in Q1 of 2022. Why? Because there is an insane amount of money currently being printed and handed out. So many institutional investors will love to start the year by buying the dip.
That implies that there has to still be a dip in January, well there will be. The Composite Man will make sure of that.
For more on the composite man, I refer you to BitcoinBaby and The Composite Man
Well, dear reader, I hope you enjoyed the show....,
If so brush your behind against that like button to ensure not spreading any viruses and have a lovely rest of your day.
Post Scriptum:
For those who do not believe my first prediction, you are very wise not taking advise from a baby..... but let me offer you a second one for free which I am quite sure will be acurate:
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Exchanges where I trade Crypto (Affiliate Links):
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Bitmart - Global (USA allowed) Low, trading fees if you use BMX (0.025 %) & Contains a wide variety of coins - https://www.bitmart.com/en?r=7XFCVy
Places where I do Liquidity Mining and Staking
Cake DeFi. Here you have to invest $50 dollar and you get 30 dollars for free. You can withdraw your 50 dollars at any time or use them for Liquidity Mining, Staking, or lending to earn more DFI rewards. The 30 dollars is locked for 6 months but earning you interest for the 6 months. https://app.cakedefi.com/?ref=197670
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