Bitcoin (BTCUSD)

[Tincupx]

My earlier post was where I believe BTC, along with the rest of the market heads inthe short term. Bring next 1-2 weeks heading into end of Jan. Most cycles have reached exhaustion and BTC is no different. On Jan 11 we broke through and close above 17,800 and believe we will back test that. Which is only 11% or so below where we sit now, so I’m. It saying the sky is falling either. The weekly chart doesn’t sit in any better position. We have been making new monthly lows since Nov 2021 and while we have broken out of that downward channel, we have not made a new monthly high or backtested that breakout. So that’s just my theory. Also think SPY, while maybe retesting recent highs tomorrow or Friday, will break back down to the 3890 mark give or take and testing. And since equites and crypto are still in sync, for me, I sit and wait for the 18000 zone to see what it does. I sold 70% of my position on Jan 11 at 2100. Now I wait and simply offering my viewpoint here, albeit not a popular one.