Almost no one is looking at BTC as a major cycle, the 2017 top was more extended than 2013 top, so BTC has just made it back to the median in December 2018, with possible room to go down below the median like it did previously.
Similar behaviors can be found on previous bear cycle and this one, price action droped drastically to the median, a small bounce and retraced back, grinded the median and then a break out to the upper side, this while NVT started to flash red on 2014 as well.
On the RSI , the orange line drawn from the top of each bull cycle with an aproximate date that'd check with the white resistance & support trendline in the chart up to January 2020 to possibly create a capitulation bottom, 2015 capitulation bottom was also on January, coincidence? maybe.
Final distribution could happen in the teal color rectangle .
BTC cycles have been extending, like any asset that is maturing, I do not think in perfectly timed cycles.
TL; DR Capitulation on Jan 2020 > 8+ months distribution > Start of next bull Run on Q4 2020.
Similar behaviors can be found on previous bear cycle and this one, price action droped drastically to the median, a small bounce and retraced back, grinded the median and then a break out to the upper side, this while NVT started to flash red on 2014 as well.
On the RSI , the orange line drawn from the top of each bull cycle with an aproximate date that'd check with the white resistance & support trendline in the chart up to January 2020 to possibly create a capitulation bottom, 2015 capitulation bottom was also on January, coincidence? maybe.
Final distribution could happen in the teal color rectangle .
BTC cycles have been extending, like any asset that is maturing, I do not think in perfectly timed cycles.
TL; DR Capitulation on Jan 2020 > 8+ months distribution > Start of next bull Run on Q4 2020.