Overlay of the last top/bear/bull cycle
The levels have been the same, and respected, and we're pretty much at the same price at the same time as last cycle. Wick not included on the line chart showing the bottom in 2015 at ~83% level
As a rough guesstimate, 20k by end of year, 250k by end of 2021. Lambos, fridges full of smol tings and girlfriends with girlfriends.
The usual breakouts for these triangles is within this box, 75% of the triangle is on the 22nd September. On the 23rd BAKKT launches.
Ive been assuming we trend sideways for 6 months, but i cant ignore this- I get the feeling a huge dump or pump is coming (NO IDEA WHICH) out of this traingle, I just found the BAKKT launch date all too convenient.
Time to buy a...
All explained in the ctart -25MA and the 99MA on the weekly - Looking at how the 'peak' of the MA coincides with the previous ATH.
The 25 and 99 are already about to cross 13 weeks before the 'peak' is due - leaving the possibility that they cross and cross back a couple of times before the 25 finally moves up when the 99 drops away.
I really need to spend more time before publishing....
Here's is my updated chart after tidying it up, adding a few bits and also a tongue in cheek look ahead to $1,000,000 :)
Bitcoin 4 year cycle, self explanatory chart.
Interesting similarities and differences to the previous bear market.
We appear to have spent a few months between the 77-83% range, whereas in 2015 we only wicked into there before ranging in the channel above. (red circle - wick not visible on line chart)
Perhaps we do the same now and range between 4k and 6k for up to a year(?)
I do envisage we will see 6k...
Excuse the scribbles,
On the weekly time frame the closes of the 3 main corrections during the bear market come out at ~55%, ~65% and ~80% from ATH - for both 2014 and 2018.
This is just for fun and no TA can really be done on it for trading, but It seems to suggest that we are out of the bear market and will begin a phase of accumulation, probably for 6-9...
Basic Fib trend on the daily. Interested to see if this channel plays out in the same way - will mean a drop to about 3k, a recovery up to 4.5-6k then another quick snap sell off to 2.5/3k before laying foundations for the next bull run. Need to look at the long game here, this drop from 6k to 3k has probably seen us push this back to ATH to 2021. But look where...