We have "reverted to the mean" of 2017 (Long from here)

2 Nis 2023

If we go back to 2016-2017 and create the average trend line leading to present time (light blue line), you will see that the 100D MA has bounced off support and now making way to potentially forming a "golden cross" with the 500D MA. Obviously, we could see consolidation between the 20K and 30K range for quite some time, but in the long term we are still following the long term mean. I believe the light blue line will remain an area of safety (hardened support) and will continue the long term trend "up" following the 2024 halving.

TLDR: We have already hit rock bottom.

2 Nis 2023

Not

The last time the 100D MA formed a Golden Cross with the 500D MA was in June 2019 before the halving event of 2020.

Now, we are facing the same scenario where the 100D MA is setting up to form a Golden Cross with the 500D MA in 2023 leading up to the next halving even of 2024.

Will history repeat itself? Are the halving cycles legit? We shall find out.

2 Nis 2023

Not

What is the theory of "Reversion to the Mean"?

Mean reversion, or reversion to the mean, is a theory used in finance that suggests that asset price volatility and historical returns eventually will revert to the long-run mean or average level of the entire dataset.