Thread by @ChrisMasterjohn

For your daily “astrology” lesson, the bitcoin dip occurred immediately after hitting a 9 on the @ToneVays MRI indicator, which should be similar to TD Sequential, and it ended and reversed when hitting a 9.

The green 1 plus green star suggests the pullback is over.

By “astrology” I mean to make fun of the people who think technical analysis is like astrology. Yeah right.

The pullback occurred on the 4h timescale and if its recovery is maintained it will have reset the daily count, allowing for MORE upside within and incredibly bullish monthly and weekly chart that are just getting started.

Preliminary confirmation the pullback is over is achieved through the current candle trading above the 1.

Further confirmation if it maintains this posture till 3:00 AM.

Further confirmation if it closes and trades above the 50-period moving average (squiggly line).

Final confirmation when it breaks new all-time high.

Caveat: the 1hr chart is on a 9 till midnight and is currently encountering the 50-period moving average and may or may not break through. Could yield a 1 to 4 hour pullback till resuming the 4h bullishness or could overwhelm the 4h recovery with a full downward 9-count.

My skin is fully in the game: 100% of all funds I don’t need till 6 or more weeks out are held as BTC protected by stop losses. Stop loss triggered right at the bottom this morning and I immediately bought back in because and only because it looked like the 4-hour bottom.

But my expertise is nutrition so don’t listen to me.

And that was cute how Janet Yellen and Elon Musk ganged up to put BTC on sale. I hope they bought the dip because it looks like it’s gone.

Ok now part of me thinks that if we hit an all-time high tonight I may just do the laser eyes things to celebrate the invincibility of bitcoin this cycle.

As a follow up, while it looked good last night none of it has materialized as of today so nothing one way or the other is confirmed. I’m totally agnostic on it going up or down but staying in on the basis of it looking great at weekly and monthly scales.

As another follow up, it’s now bearish on the daily chart, suggesting a few more days of downside before resuming up. I was wrong the pullback was over, but none of my confirmation signals materialized so I had early warning.