This week begins Saturn’s annual retrograde bringing about a time for reflection and change. Whether you believe in astrology or not, there could be some serious implication for Bitcoin during this “transit.”
Here’s what typically happens during the few-month-long transit and how this could impact the cryptocurrency market.
Does Astrology Work To Predict Bitcoin Price Action?It is rare, but few traders have made their fortunes by integrating astrology into their technical analysis strategy. W.D. Gann, for example, used time, price, and geometry among other tools to predict tops and bottoms in markets.The late great Gann noticed a correlation between commodities markets and certain planetary positioning, and his findings produced regular results. He went down both as a legend and a hoax, due to the stigma that surrounds astrology – especially as it applies to something as serious as finance.
How Saturn Retrograde 2021 Could Bring Karma To Crypto
Saturn retrograde comes once per year and can be quite the shake up. The transit is associated with “lessons,” “discipline,” “karma,” and more. Those that fight the coming change, will suffer for it.
In just those few words in the last paragraph, there’s several parallels to the crypto market currently. Overzealous bulls were taught a very costly “lesson” recently with one of the worst monthly candles on record. To survive 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 fun staying poor” comments, and other hijinks. The behavior caused well-known figures to sell their coins.