Will Mercury In Retrograde Bring A Mood Shift In Bitcoin?
10 Mai 2022 - 10:35PM
NEWSBTC
Bitcoin is in free fall, just as Mercury goes retrograde for the
second time in 2022. The astrological event is blamed for all kinds
of miscommunications and technology-related issues. It also appears
to have a correlation with major mood shifts and pivot points in
Bitcoin price. With today starting another phase of Mercury in
retrograde, let’s take a look at how the planet-related phenomenon
might impact price action across crypto. What Is Mercury In
Retrograde? Examining The Astrological Event Mercury’s period of
retrograde motion begins today, and lasts through June 2, 2022.
According to The Old Farmer’s Almanac, “Mercury Retrograde” is an
event that happens three times per year where the planet appears to
have “abruptly switched directions and has started to
move in reverse across the sky.” Interestingly, its appearance
has been closely correlated with moments when Bitcoin price action
has “abruptly switched directions.” Related Reading | Bitcoin
Perfectly Follows Market Cycle Comparison, What Comes Next For
Crypto? The planet, like the Roman messenger god it is named after,
supposedly rules communications, which includes technology,
transactions, and even contracts such as options, futures, etc. If
you notice sudden computer problems over the next three weeks or
issues stemming from a mistyped text message, it is Mercury to
blame. But back to Bitcoin. The top cryptocurrency has shown major
mood shifts and pivots precisely when the retrograde period rolls
around. Take a look. What will Mercury in retrograde bring? |
Source: BTCUSD on TradingView.com Why Bitcoin Might See A Mood
Change And How Math May Involved Notable moments in Bitcoin price
action that coincided with Mercury-driven mayhem include the 2017
bull market peak, the plunge toward the bear market bottom, the
breakout just before the bull run in 2020, and even the most recent
lows in January 2022 that were only just now taken out a day ahead
of going retrograde. Since not all shifts in investor sentiment are
negative when this period rolls around, there is no telling what
comes next – only that the period can produce dramatic
results. Bears are hoping to push prices down to further lows,
while bulls are hoping for targets closer to where Mercury resides
in outer space. Related Reading | Time Vs Price: Why This Bitcoin
Correction Was The Most Painful Yet In terms of why Mercury might
have an impact on those of us on Earth, well, it could come down to
math. The solar system has interesting and unusual relationships
with the Fibonacci sequence – a tool often used in predicting price
action in markets. For example, a year on Earth is 365 days, or
nearly a full 360 degrees of a circle. A year on Venus is 225 days,
which is roughly the 0.618 Fibonacci ratio of Earth’s cycle. A
Mercury year is 87.97 days, and is roughly the 0.236 Fibonacci
ratio of the Earth’s cycle. Could this close relationship with
Fibonacci be the reason for Mercury’s extra-powerful impact on us
here on Earth? Mercury goes retrograde as Bitcoin retests the
golden ratio. Coincidence? | Source: BTCUSD on TradingView.com
Follow @TonySpilotroBTC on Twitter or join the TonyTradesBTC
Telegram for exclusive daily market insights and technical analysis
education. Please note: Content is educational and should not
be considered investment advice. Featured image from
iStockPhoto, Charts from TradingView.com
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