I like coming back to the BTC 5Y every year or so to see how the chart has morphed.
This will be the third BTC bull cycle for me, and it seems like there are always three major technical developments in the run-up ;
1) major triangle breakout
2) initial growth phase
3) parabolic growth phase
The major triangle breakout signifies a departure from the price range of the previous ATH and relative crash low. The initial growth phase is self-explanatory, but the parabolic phase is marked by a steep increase in slope and that feeling of euphoria in the air amongst market participants.
From triangle breakout to blow off top, it looks like the time-frame is about 12-15 months, give or take. Also important, the triangles are losing steepness over time, and as a result the % gains are diminishing. If the last peak-to-peak was around 360% (19k - 69k) , and before that 1,900% (1k - 19k), then I infer that this time we will see a growth rate of around 100%, probably less tbh.
Therefore, I'm calling a maximum top of around $139,000 this cycle (69k*2), which should be reached around Nov 2024. Though, as we know, crypto markets are extraordinary speculative and emotional, and so this range is just an eyeball.
Best of luck to everyone, lets get it.
This will be the third BTC bull cycle for me, and it seems like there are always three major technical developments in the run-up ;
1) major triangle breakout
2) initial growth phase
3) parabolic growth phase
The major triangle breakout signifies a departure from the price range of the previous ATH and relative crash low. The initial growth phase is self-explanatory, but the parabolic phase is marked by a steep increase in slope and that feeling of euphoria in the air amongst market participants.
From triangle breakout to blow off top, it looks like the time-frame is about 12-15 months, give or take. Also important, the triangles are losing steepness over time, and as a result the % gains are diminishing. If the last peak-to-peak was around 360% (19k - 69k) , and before that 1,900% (1k - 19k), then I infer that this time we will see a growth rate of around 100%, probably less tbh.
Therefore, I'm calling a maximum top of around $139,000 this cycle (69k*2), which should be reached around Nov 2024. Though, as we know, crypto markets are extraordinary speculative and emotional, and so this range is just an eyeball.
Best of luck to everyone, lets get it.