In a dream today, I was sitting at my computer and saw the price of Bitcoin (BTC) was dropping fast. The scene changed and I was outside, away from my computer, and frantically hurrying to get back to it because I knew BTC was dropping and getting close to the price where I wanted to sell BTC3S but there were some people there talking about other things and distracting me from getting back inside. I finally made it and saw the price had dropped steeply to about $51,000, which was the price I was hoping to see but I did not sell it because I was wondering if it might drop lower and I remembered that Christopher Harris shared yesterday, “I saw a chart of BTC coming down to 48k”. Then the scene changed and I was outside bending over to look at a meter on the ground like a gas meter, but it was an electronic display showing the price of BTC in green digits and the price was in the $48,000 range.
In this dream, $51,000 was already in my mind as a possible target for selling because of a previous dream on October 8 in which I saw BTC dropping to $52,400 and wondered if it might drop into the $51,000 range. The same price was confirmed the next day, October 9, when Christopher Harris shared that he saw BTC at $51,000. Even though I was hurrying to get to my computer to sell it when it got there and then saw it there, I decided to wait to see if it dropped lower. That scene ended so I did not see the price continuing to drop to the $48,000 range and can only speculate about what happens between those two prices, but since the final scene showed I was bending over to look down at the meter on the ground, I think that means the $48,000 range is a bottom.
I’ve noticed a pattern with tops and bottoms often being preceded by a counter move that makes it very difficult to catch the final top or bottom because it looks like the market has reversed, but this dream did not show that happening so I don’t know if that’s the right interpretation.
I think today’s dream shows Bitcoin is right on track to complete the sequence I shared in my October 19 post. Based on the charts I saw on August 5 and October 13, I’m expecting something close to a 50% retrace after the next bottom is reached. The August 5 chart showed that retrace is followed by a huge steep drop.
A cycles analyst I follow shows BTC reaching a bottom around November 8 but cycle turn dates can be +/- a few days. In any case, his cycles are confirming lower prices ahead.
The 100-day moving average is currently in the $48,000 range. In late September, it provided support that prevented the bottom from dropping lower, so perhaps it will do it again. In that scenario, the price can temporarily drop below the 100-day MA, but doesn’t stay below it very long.