TraderLBI ๐Ÿซ
TraderLBI ๐Ÿซ 2 minutes reading from Bitcoin

Below $11K: Correction/Bear Market Correction/Mini-Bear

Revisited the LT spx spy es chart. Posting this just incase im right, i'll pull this out in 10 years & claim my clout.

I added a 200 WMA on the 1M chart. Looks like we are in a mid cycle correction of a long term ~23 bull run.

Hopium ๐Ÿงตโฌ‡๏ธ

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We have a bear market where we interact with and trade below the 200 WMA. Once we retake it, we spend ~23 years in a LT bull market, with the retake and then the ultimate tops prior to pulling back to the 200 WMA marked out.

We also have pretty serious pullbacks and even technical bear markets within these longer term bulls. Some of the corrections/bears are 4300-4400 days from the bull start. Thats exactly where we are now.

I left the @Tradingalpha_ Bullish, confirmed, Monthly Reversals on the chart as the same colored vertical lines as the OP chart. Notice that the ONLY TWO reversals that ended up not producing new highs(red) occurred in the downturn after the 23 yr cycle highs.

Conclusion - we are in a mid cyclical bull market correction/mini-bear. Buying/holding here will be rewarded for the next 5-10 years. We are NOT entering a long term bear, down-sideways for the next 10 years. The ultimate top of this cycle will be Spx 11k+ ~January 2033.

I am in no way qualified to make predictions and I have absolutely no data to back any of the above up except the lines i drew on the chart, bored on a Saturday morning. So the above

is obviously the furthest thing possible from financial advise.

This post is based on this twitter thread.

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