BTC - History doesn't always repeat itself but it often rhymes
Comparing the two run up Bitcoin had during 2021, we notice a lots of similarities.
Most of us anticipated a blow off top and it didn't really happen.
We see lots of similarities between November 16th, 2020 - June 22nd, 2021 and June 22nd, 2021 - January 6th, 2022.
If history of 2021 is any indication of what may happen, we may see Bitcoin trend sideways until the end of the month the begins its way back upwards during early February.
One thing that does differ is that the first runup was ≈218 days and the second run up was ≈198 days, which have a difference of about 10%.
Since history does tend to rhyme I would suspect that if it were to repeat itself again that it would do so faster than before.
(This would be required if bitcoin would see a blow off top)
Some fun speculation if Bitcoin were to repeat itself again at 10% faster again, the next All Time High before a correction would be on ≈May 9th, 2022, and the low would be on June 2nd, 2022.
Using this information would put the next All Time High at 71.5k followed by a correction to 51k.
Also, comparing the bar patterns in the blue and orange to prior Bitcoin price actually has a lot of TA that would agree with it potentially happening.
This is all pure fun speculation, expect the unexpected.
Most of us anticipated a blow off top and it didn't really happen.
We see lots of similarities between November 16th, 2020 - June 22nd, 2021 and June 22nd, 2021 - January 6th, 2022.
If history of 2021 is any indication of what may happen, we may see Bitcoin trend sideways until the end of the month the begins its way back upwards during early February.
One thing that does differ is that the first runup was ≈218 days and the second run up was ≈198 days, which have a difference of about 10%.
Since history does tend to rhyme I would suspect that if it were to repeat itself again that it would do so faster than before.
(This would be required if bitcoin would see a blow off top)
Some fun speculation if Bitcoin were to repeat itself again at 10% faster again, the next All Time High before a correction would be on ≈May 9th, 2022, and the low would be on June 2nd, 2022.
Using this information would put the next All Time High at 71.5k followed by a correction to 51k.
Also, comparing the bar patterns in the blue and orange to prior Bitcoin price actually has a lot of TA that would agree with it potentially happening.
This is all pure fun speculation, expect the unexpected.
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Scripts and content from TanHef are solely for information and education. Past performance does not guarantee of future results.
Scripts and content from TanHef are solely for information and education. Past performance does not guarantee of future results.