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    MarketMap-2024 Bitcoin Issue#2

    May 27, 2024

May 27, 2024

MarketMap-2024 Bitcoin Issue#2

The Leading Risk Market

“Bitcoin has transmuted from a bellwether for all risk markets to being the BELL itself sucking all the energy out of the risk taker’s space.”  Volatility Reports 3/6/24

I have pointed out several times the only game in town is Bitcoin and I added that it will suck all of the speculative energy out of all the other risk markets. Also, the nature of the crowds that trade stocks compared to commodities like silver to soybeans are way different in their behavior.

The low pivot was put in on 5/2 and Sunday the recovery has sustained. From the 75k high the 20k correction did two things correctly. One sold off into the previous panic range, thus correcting the fear buying and has traced out a clear descending channel with three legs of decline, a clear counter trend into a TE#1, a panic wash out low on 5/1/24

The forecast is for BTC

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