BITCOIN - GRM First Time Wrong 🤔?

Ok guys,

The Golden Ratio Multiplier is a BTC specific indicator that was one factor that I thought could see BTC have a decent sized bounce, but it looks like that may not happen this time.

So whats going on here 🤔?

Well up until now BTC has moved in perfect ratio so to be captured so perfectly by an indicator like this.

But now it would seem the tide is turning and BTC is doing something new.

If you're into EW you might call what is potentially happening a supercycle bear market.

Is this a bad thing 🤔?

Perhaps think of it like this...

Lets think of the BTC chart as an ongoing auction.

And now consider this in the setting of a real auction and lets pretend The Bitcoin is some kind of cringe antique that is worth a lot of money.

Unlike most auctions where bids only take price higher this auction also takes price down.

How would you like to arrive at an auction where the price is going down from $60K, $50K, $40K, $30K, $20K, down and down and you can buy it for less and less.

How does that sound to you - good 😄?

Well thats what is happening here...

And to continue the analogy you're sitting at the auction and as the price goes down more and more potential buyers get up and leave. They are no longer interested.

Sound strange 🤔?

Well it is strange, but that is what is happening.

But there is a major low coming and it will be a heavy discounted price.

And all the chest thump hodl gang will be long gone.

But for those with patience and skill the could be an incredible opportunity on the horizon.

Its an opportunity only for those that stay at the table and remain interested 🔥.

Not advice.

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