Bitcoin New from ATH to the top of the cycle
Bitcoin New from ATH to the top of the cycle
When Bitcoin overturns the previous ATH, in addition to many living here, very interesting things begin. Multiples of the former ATH become visibly resistance and later support.
Analysis:
Here, from the moment of the breakthrough of the previous 2017 peak, the rises and falls after the previous ATH summit were brought to a common point. The current exchange rate is in a good position compared to previous movements. Next higher resistors are expected in the 4x ~ 80K and 5x ~ 100K range. A slow ascent can be considered a side movement up to 5x, i.e. up to 100K. Above 100K, however, life will start again. Doubling is fast, at 200K. Above 100K, the phase of parabolic rise can begin, the peak of which also closes the bull market. If my expectations are correct, then around the lower half of the triangle formed by the previous vertices, the current cycle should peak, somewhere in the area bounded by the square.
~ 290 days after the ATH breakthrough, there has been a large drop in all 3 cycles so far. It is worth paying attention to this period. (part marked with a blue ellipse) Subsequent movements can be separated quite well. It is possible to deduce when a rise or fall is expected.
One of the common features of the bear cycle is the well-recognized Capitulation Fall. At the end of this fall, it is worth buying for as long as we can. I did not nominate, but all 4 capitulations represented a drop above -40% compared to the previous level. Some have this end, and some have this beginning. Of course, those who have this start will do well in the long run.
Conclusion:
It is worth examining the cycles from several perspectives because they are full of repetitions of movements that thus come into our horizons and we can prepare for the expected movements.
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Non-financial advice. Trading in cryptocurrencies is risky and can result in losses.
Translated with Google Translator
Peace
The-Line
When Bitcoin overturns the previous ATH, in addition to many living here, very interesting things begin. Multiples of the former ATH become visibly resistance and later support.
Analysis:
Here, from the moment of the breakthrough of the previous 2017 peak, the rises and falls after the previous ATH summit were brought to a common point. The current exchange rate is in a good position compared to previous movements. Next higher resistors are expected in the 4x ~ 80K and 5x ~ 100K range. A slow ascent can be considered a side movement up to 5x, i.e. up to 100K. Above 100K, however, life will start again. Doubling is fast, at 200K. Above 100K, the phase of parabolic rise can begin, the peak of which also closes the bull market. If my expectations are correct, then around the lower half of the triangle formed by the previous vertices, the current cycle should peak, somewhere in the area bounded by the square.
~ 290 days after the ATH breakthrough, there has been a large drop in all 3 cycles so far. It is worth paying attention to this period. (part marked with a blue ellipse) Subsequent movements can be separated quite well. It is possible to deduce when a rise or fall is expected.
One of the common features of the bear cycle is the well-recognized Capitulation Fall. At the end of this fall, it is worth buying for as long as we can. I did not nominate, but all 4 capitulations represented a drop above -40% compared to the previous level. Some have this end, and some have this beginning. Of course, those who have this start will do well in the long run.
Conclusion:
It is worth examining the cycles from several perspectives because they are full of repetitions of movements that thus come into our horizons and we can prepare for the expected movements.
If you liked the analysis, click on the like and subscribe to be informed about future analyzes and updates.
Non-financial advice. Trading in cryptocurrencies is risky and can result in losses.
Translated with Google Translator
Peace
The-Line
Penafian
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