Repost and Update of 'Golden Bull Cycle' (Orig. Trading Shot)
Golden Bull Cycle originally posted by Trading Shot on Trading View.
The basic theory is that Bitcoin spends approximately equal amounts of time going from the bear market low to the halfing compared to the halfing to the bull market peak.
I've added Fib extensions based on the previous bull cycle peak and bear market low.
We see on all cycles a struggle at breaking the 1.618 fib extension, especially in 2013. The following bull market peaks seem to line up with the 2.212 and 2.414 Fib extension.
The trendline connecting bull market peaks from 2013 to 2017 give a projected target for the 2021 peak, also around the fib extension levels of the previous peaks.
This cycle gives a predicted peak date around the end of September at levels in the 200 thousands. Although this is the first cycle to experience a stock market crash so the bull run may have been delayed and perhaps this pattern may be broken.
The basic theory is that Bitcoin spends approximately equal amounts of time going from the bear market low to the halfing compared to the halfing to the bull market peak.
I've added Fib extensions based on the previous bull cycle peak and bear market low.
We see on all cycles a struggle at breaking the 1.618 fib extension, especially in 2013. The following bull market peaks seem to line up with the 2.212 and 2.414 Fib extension.
The trendline connecting bull market peaks from 2013 to 2017 give a projected target for the 2021 peak, also around the fib extension levels of the previous peaks.
This cycle gives a predicted peak date around the end of September at levels in the 200 thousands. Although this is the first cycle to experience a stock market crash so the bull run may have been delayed and perhaps this pattern may be broken.