Bitcoin is riding a bit too high above the 12 and 26 weekly EMA for the 2021 bull market.
I expect a double-top style scenario to play out similarly to the 2013 cycle.
Using the extension line tool, you can go back to Bitcoin's early days and estimate cycle top peaks.
Using the Bitcoin Log Growth Curves Indicator (2020 updated), you can estimate the cycle top.
Assuming that Bitcoin does indeed play out in a 4 year cycle, this cycle is far too bullish in the near term and does require correction.
I expect 58K to be a major cycle top and expect a larger pullback than the 36% and 26% pullbacks that have already occurred (most likely to $34k area or lower).
If you'd like to see how I was able to calculate the approximate cycle top, zoom out further and you can see how this method has predicted the first 2 cycle bull market double-tops. (Tops after prior ATHs)
This study is 4 years in the making.
Is there a chance that Bitcoin will not peak until late 2022-2023? Absolutely. I may have miscalculated. This cycle is the hardest to predict yet. Large inflows of institutional money has made this cycle very unique, but I believe that my price target and time cycle will closely reflect the PlanB stock-to-flow model.
I expect a double-top style scenario to play out similarly to the 2013 cycle.
Using the extension line tool, you can go back to Bitcoin's early days and estimate cycle top peaks.
Using the Bitcoin Log Growth Curves Indicator (2020 updated), you can estimate the cycle top.
Assuming that Bitcoin does indeed play out in a 4 year cycle, this cycle is far too bullish in the near term and does require correction.
I expect 58K to be a major cycle top and expect a larger pullback than the 36% and 26% pullbacks that have already occurred (most likely to $34k area or lower).
If you'd like to see how I was able to calculate the approximate cycle top, zoom out further and you can see how this method has predicted the first 2 cycle bull market double-tops. (Tops after prior ATHs)
This study is 4 years in the making.
Is there a chance that Bitcoin will not peak until late 2022-2023? Absolutely. I may have miscalculated. This cycle is the hardest to predict yet. Large inflows of institutional money has made this cycle very unique, but I believe that my price target and time cycle will closely reflect the PlanB stock-to-flow model.