Bitcoin above 10k within 9 trading days, or it creates new yearly lows
Time to jump into the Gann analysis that is based on time cycles. I always like to quote what the man himself said, “Time is the most important factor in determining market movements…” The full quote is, “Time is the most important factor in determining market movements because the future is a repetition of the past and each market movement is working out time in relation to some previous cycle.” – WD Gann
I really want you to think about that: the future is a repetition of the past.
Gann was adamant that there is nothing new in the markets. In fact, the fact (pun intended) that so many market masters of the past and present all say some variant of ‘there is nothing new on the market’ is not a coincidence. Whether the conclusion of that hypothesis is related to scientifical observation or just observed repetition, it seems to come to the same supposed conclusion: markets repeat themselves and there is nothing new. Gann’s approach and conclusion were based on his faith and beliefs. He frequently cited Ecclesiastes 1:9
What has been will be again,
what has been done will be done again;
there is nothing new under the sun.
And so that brings us to our current analysis, which is a very simple one based solely on time.
Reasons for the forecast are very simple:
May 11th –
144-day cycle – May 11th’s time is 144 days from the all-time high, 144-day cycle extremely significant in Gann’s work, expect major changes and swift moves.
90-day cycle – May 11th’s time is 93 days from the most recent swing low, 90-day cycle triggers changes.