Historically cycles should get longer and yield lower percentage gains. Atm it looks like we are at some sort of crossroads between these two scenarios, at least to me. Would be good to be prepared for both, lots of unprecedented action these days. This is just a a chart for my own personal purposes.
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Looks like the green line where previous ATH hit resistance is being broken. Nothing confirmed but the bullish bias is overwhelming. The downtrending channel we broke out of has a target of 46k, closing above that should take us to 50-60k before potentially retesting the previous ATH going further upward continuation. The longer we spend testing levels the higher the final ATH for this bullrun will be according to historical data. Even though instant gains feels good for the reptile brain, a slow buildup would yield a higher ATH for this run...
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Target of this breakout is over 54k, and if we build support there we will have a rise as a reaction.
I think before March we will see 67k as a short term top before a drop to 47k with continuation of building the parabola from there.
I think before March we will see 67k as a short term top before a drop to 47k with continuation of building the parabola from there.
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A bit off. More like 62k and potentially 47-49k or a quick wick lower. Hoping for a slow continuation of the upwards trend next week /w a blowoff top in May.
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Weak response so far, and the weekend approaches which will trap us under current levels if we dont close over 55000. Monthly candle could break the parabola, if it happens its not looking too good. Tbh there has almost only been 2017 euphoria since the beginning of the run up this time. No rough pullbacks. NFTs bubbling up, people buying Jpegs for millions. It almost seems too good to be true.
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We have hit close to top for percentage gains for one cycle. But what if that resistance becomes support?
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170k in May?
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Scared about a red monthly.
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The red line where we hit 61k is angled corresponding to the decrease in percentage gains seen from prev. bullruns.
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Overextended pumps yield overextended dumps