The markets might be giving me a rough ride๐ข, but I'm not going to let it spoil my birthday celebration๐ฅณ. After all, as they say, "In the stock market, as in life, it's not about waiting for the stormโ๏ธ to pass; it's about learning to dance๐บ๐ป in the rainโ."
I decided to take a break and enjoy๐ my birthday. After all, it's not every day you get to experience a market crash๐ฅ and a mid-life crisis at the same time๐๏ธ. But don't worry; I'll be back in the markets tomorrow, ready to make some money and maybe a wish or two.
I know the markets can be rough, but just like my life, it's all about buying low and selling high. So, I'm going to enjoy๐ my cake๐ง, open some presents๐ and maybe buy some stocks๐ฐ on sale.
So, as I'm blowing out๐ฌ the candles on my birthday cake๐, I can't help but think about all the parallels between life and the markets. Like they say, "In the stock market, as in life, you're either a bull๐ or a bear๐ป, but it's always better to be a live one."
Besides all the good feelings and jokes about today, in the past year, things happened to Bitcoin ๐งจ that attracted everyone. I was checking the past analysis and decided to share them with you because it would be interesting for any trader to know the market's future.
On October 8, 2022, I published a post that showed Bitcoin on a monthly time frame๐. As you can see in the chart, Bitcoin will have an upward movement in the Time Reversal Zone (TRZ) between November and January๐ , Bitcoin will have an upward movement in this zone after breaking its trend line. According to the analysis I shared, this happenedโ .
Of course, this move can be like a pullback to the trendline. But I believe it is not yet clear which direction ๐ฃ the market will go. We traders are waiting for Bitcoin like a man waiting for his wife to show up for a party ๐.
Now let's go to the lower time framesโfor example, two weeks๐. According to the theory of Elliott waves, it seems that we have passed five primary and impulsive waves in this time frame, and we have entered the main and corrective phase of Bitcoin. The end of wave๐ A could be on the shore โฑ of the Price Reversal Zone (PRZ). Of course, to confirm this event, we must wait for the authentic failure of the important downtrend line. Otherwise, it is still expected that Bitcoin will continue declining and be caught under the feet of market bears๐ป. In my opinion, when Bitcoin left its ascending channel, it became difficult to return Bitcoin to its peak days, or at least it will be difficult until the next halving, but we still have to wait for this beautiful wife ๐ฐ.
Do we have an analysis in a lower time frame? Yes, weekly time frame๐. Our main post on Bitcoin weekly time frame. This candle๐ is essential because it coincides with my birthday ๐. I'm joking, but this candle really affects the fate of Bitcoin. As we expected, the price of Bitcoin grew in the Time Reversal Zone(TRZ), approached the important downtrend line, and finally pulled back to the broken important support line. If Bitcoin forms a weekly candle above the important support line and the important downtrend line, the failure of the important support line will be a fake break, and we can expect Bitcoin to grow to the $30,000 area. Finally, we can confirm the end of the primary wave๐ A.
Of course, I would like to add one more point. If you pay attention to the Exponential Moving Average 200 (EMA200) and Simple Moving Average 200(SMA200), you will see that the EMA๐ is mainly above the SMA๐, and we have seen Bitcoin grow whenever these two lines have come close to each other. If the EMA can break the SMA to the bottom, this event will cause Bitcoin to go below the important downtrend line again, and in fact, this will be a negative signโน๏ธ.
To be honest, this post was a bit of Bitcoin analysis and a show-off ๐ฆ. So that I could inform you of what happened during this time. I was joking, but I really hope the analysis always goes so well and the market will behave as you expect to make a green portfolio in both the bullish and the bearish Market.
I might not be making money in the markets today, but I'm making memories with my loved ones, and that's worth more than any stock ever could be. So, I'll raise a glass of birthday cheers๐ป and make a wish for another year of good returns.
As I'm looking back at my past year, it's like an investment portfolio, some good returns, some not so good, but I'm still in the game and looking forward to what's next.
I know that life is full of surprises and unknowns just like the markets, but I'm ready for it. In the end, it's just a reminder that life and the markets are unpredictable, but that's what makes it so exciting. And I'm going to enjoy my birthday and hopefully, make some money๐ฒ too.
Long story short, as they say, "In the stock market, as in life, you win some, you lose some, but it's the birthday cake๐ that really counts."
Happy birthday to me๐ฅณ, and I wish you the best investment๐ธ and a world full of peace and tranquility.