I was wrong about Bitcoin downside - this time is different
- follow up on my recent analyses where I wrongly predicted that BTC is not ready for new highs yet and needs more time to consolidate:
- it appears that this cycle is indeed different as BTC has already closed a weekly candle above the 0.618 macro fib on its first attempt and BEFORE the halving which is something that hasn´t been done in the previous two cycles (comments)
- this is clear evidence that something different is going on and that we can potentially expect a much shorter bull market cycle this time round
- with the 0.618 fib conquered before the halving it also makes sense that new ATHs are reached before the halving as well as historically, once the 0.618 fib was broken, ATHs for the king of cryptos quickly followed
- this is clear evidence that something different is going on and that we can potentially expect a much shorter bull market cycle this time round
- with the 0.618 fib conquered before the halving it also makes sense that new ATHs are reached before the halving as well as historically, once the 0.618 fib was broken, ATHs for the king of cryptos quickly followed
Comment:
2019 cycle
First attempt rejection, second attempt at breaking the fib was successful.
ATHs reached shortly after as well.
First attempt rejection, second attempt at breaking the fib was successful.
ATHs reached shortly after as well.
First attempt rejection, second attempt at breaking the fib was successful.
ATHs reached shortly after.