Looking at the past market cycles of BTCUSD, a striking similarity presents itself with the current market conditions: the top of the logarithmic growth curve has so far perfectly predicted cycle tops, while the lowest end of the curve has with less precision - but nonetheless - shown us the respective cycle bottom. If we apply the fibonacci extension to the respective market-cycle tops and bottoms we can see that the mid-cycle dip which we are in right now has so far ALWAYS found its bottom at the 1.618 fibonacci extension of the previous cycle's top - in this case at 30K.
These intracycle dips have so far always occured arround the 0.5 band of the logarithmic growth curve, which is also the case as of now. Due to the lengthening cycles of BTC, we may see the price touching the upper limit of the growth curve in 2022 at the earliest IMO. The current consolidation is therefore giving a very good long-term entry opportunity with a good R:R.
Vires in Numeris.
(Not financial advice)
These intracycle dips have so far always occured arround the 0.5 band of the logarithmic growth curve, which is also the case as of now. Due to the lengthening cycles of BTC, we may see the price touching the upper limit of the growth curve in 2022 at the earliest IMO. The current consolidation is therefore giving a very good long-term entry opportunity with a good R:R.
Vires in Numeris.
(Not financial advice)
Comment:
So far everything is going in accordance with the plan, if BTC can further establish momentum above 42K we could see it moving towards previous ATH range.
Comment:
Nice momentum so far, as we can see 47k is a crucial fib extension level which the price has to conquer in order to continue the climb towards previous ATH range.