In the Waiting Lobby | Friday Video Update
Bitcoin Data Newsletter
Hello Everyone!
Welcome back to a video update, and happy Friday!
Today we’ll be discussing some short-term Bitcoin price action, alongside our two X posts for the day: The Halving Cycles Theory Quarter Cycles and an update on the Magic Bands.
We are just in the waiting lobby for higher prices.
Enjoy!
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You’ll also be able to view live TradingView versions of these charts that you can edit and make your own here. Magic Bands is available on the Models Page.
Quick Summary
Bitcoin is at resistance inside of a fair value channel, and I am waiting to see if it rejects or breaks above
A rejection from the channel top would make sense after so much rise, so I am just waiting to see how the short-term plays out
The Quarter Cycles of the Halving Cycles Theory call for a correction by Nov 28th this year. We have not seen anything substantial yet, so it is possible the correction is complete. If not, the window is drawing to a close
The Magic Bands target is the next primary band at 48k
In each cycle, breaks of different primary bands lead to a move to the next, and even a repeat of the slowest example would have us at 48k by Feb 2024.
I think that since this is our first break of the yellow level 1, we are more likely to reach the next band quicker
Higher targets expected, waiting on the short-term to reveal itself