Bitcoin reaching $33,000 end of summer (beginning of leg 3 of 4)
Based on a fractal of MVRV Z-Score. My previous idea jumped the gun with the first two starting points, so I made this one as the bottom is in and so is the first high.
Most people seem to think we are going to be in these low levels for a while and that the next top will be in 4 years time. I think we are yet to reach the cycle top and that Bitcoin is emulating the 2012-2013 bull market with 4 tops. 1st top was in June '19, 2nd top was in April '21. We are currently just starting the 3rd leg up that is projected to top in February according to this fractal. The 4th top and therefore the end of this bull run for BTC should come around December '24.
This fractal idea of a $33,000 top in late summer '22 is only about the initial rally or, in other words, the beginning of the 3rd cycle. This MVRV Z-score fractal estimates a $232,000 price tag for Bitcoin in February, but this does seem to be too advantageous. I do not currently have a specific price estimation for the 3rd leg up, but the 4th leg should bring us to those levels.
Just my two mites.
To Christ be the glory forever!
DATE PROJ. ACTUAL
Jun-18 xxxxx 17593
Jun-26 xxxxx 21868
↘ Jun-30 18781 18596 (0.98% diff)
↗ Jul-06 21156
↘ Jul-12 19968
↗ Jul-23 25193
↗ Aug-02 28993
↘ Aug-05 26381
↗ Aug-11 28756
↗ Aug-19 32793
↘ Aug-23 31368
↗ Aug-29 33031
↘ Sep-04 29943
↗ Sep-09 31131
↘ Sep-13 29468
↗ Sep-22 30418
↘ Sep-28 28993
↗↗↗↗ onwards...
Most people seem to think we are going to be in these low levels for a while and that the next top will be in 4 years time. I think we are yet to reach the cycle top and that Bitcoin is emulating the 2012-2013 bull market with 4 tops. 1st top was in June '19, 2nd top was in April '21. We are currently just starting the 3rd leg up that is projected to top in February according to this fractal. The 4th top and therefore the end of this bull run for BTC should come around December '24.
This fractal idea of a $33,000 top in late summer '22 is only about the initial rally or, in other words, the beginning of the 3rd cycle. This MVRV Z-score fractal estimates a $232,000 price tag for Bitcoin in February, but this does seem to be too advantageous. I do not currently have a specific price estimation for the 3rd leg up, but the 4th leg should bring us to those levels.
Just my two mites.
To Christ be the glory forever!
DATE PROJ. ACTUAL
Jun-18 xxxxx 17593
Jun-26 xxxxx 21868
↘ Jun-30 18781 18596 (0.98% diff)
↗ Jul-06 21156
↘ Jul-12 19968
↗ Jul-23 25193
↗ Aug-02 28993
↘ Aug-05 26381
↗ Aug-11 28756
↗ Aug-19 32793
↘ Aug-23 31368
↗ Aug-29 33031
↘ Sep-04 29943
↗ Sep-09 31131
↘ Sep-13 29468
↗ Sep-22 30418
↘ Sep-28 28993
↗↗↗↗ onwards...