This week begins Saturn’s annual retrograde producing a time for reflection and change. Whether you believe in astrology or not, there might be some serious implication for Bitcoin throughout this “transit.”
Here’s what generally takes place during the few-month-long transit and how this could impact the cryptocurrency market.
Does Astrology Work To Predict Bitcoin Price Action?
It is uncommon, but few traders have made their fortunes by incorporating astrology into their technical analysis technique. W.D. Gann, for example, used time, cost, and geometry to name a few tools to predict tops and bottoms in markets.
The late excellent Gann discovered a correlation between products markets and certain planetary positioning, and his findings produced regular outcomes. He went down both as a legend and a scam, due to the preconception that surrounds astrology– particularly as it applies to something as severe as finance.
Associated Reading|Gann Price-Time Analysis Points To Massive Ethereum Leg Higher
Take the crypto psuedo-celeb “Maren,” for example. The TikTok star positions in bikinis flaunting her physicality to bring in attention to her astrology and how it associates with Bitcoin rate action. In any research study where there’s as much snake oil as compound, it is simple to be excessively doubtful.
Saturn remains in retrograde starting in this week, providing it the appearance that its moving in reverse through the sky. And it might be a perfect time for astrology to prove its worth all on its own.
Past Saturn retrograde stages have actually been added to the chart|Source: BTCUSD on
TradingView.com How Saturn Retrograde 2021 Could Bring Karma To Crypto
Saturn retrograde comes when per year and can be rather the shake up. The transit is associated with “lessons,” “discipline,” “karma,” and more. Those that battle the coming change, will suffer for it.
In just those few words in the last paragraph, there’s a number of parallels to the crypto market presently. Overzealous bulls were taught an extremely expensive “lesson” recently with one of the worst month-to-month candle lights on record. To endure the bull market, investors might need more discipline.
Karma, as the saying goes, can be a bitch. The Bitcoin community has spiraled out of control with its laser eyes, “have a good time staying poor” remarks, and other hijinks. The behavior triggered popular figures to offer their coins.
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Those who warned the hive mind of the coming selloff, such as profession trader Peter Brandt, were meet with “old man chews out Bitcoin” memes.
There’s even images being shared on Twitter of what seems some crypto enthusiasts adding laser eyes to a statue memorializing Ghandi.
If that does not require some discipline, lessons, and some serious karma to drive genuine modification in this community, I don’t know what would.
The habits is disgusting, and it is dragging down the cryptocurrency industry. It’s time to mature, crypto, and Saturn in retrograde is going to do it for you. Resist and suffer, or become your much better self.
Featured image from iStockPhoto, Charts from TradingView.com