The Log Growth Curves Indicator has shown to be very accurate in showing the logarithmic range of the big-picture Bitcoin market-cycle.
I've added an extra fib level beyond the two range major support and resistance curves for showing the margin of error during blow-off tops and market dumps during bear markets.
All three previous market tops touched values equivalent to being within the 6-month range I've shown with the red polygon.
Based on the 9 - 12 month length of each bullish market extension, and us being about 3 months in, we can assume the closing of the next or second next 3-month candle after this one will be likely to be the market top.
If the extension length continues according to the all-time pattern, and the market continues in the log growth curve range as it always has thus far, that will put the bitcoin top between $83k and $131k sometime in summer or fall of 2021.
I've added an extra fib level beyond the two range major support and resistance curves for showing the margin of error during blow-off tops and market dumps during bear markets.
All three previous market tops touched values equivalent to being within the 6-month range I've shown with the red polygon.
Based on the 9 - 12 month length of each bullish market extension, and us being about 3 months in, we can assume the closing of the next or second next 3-month candle after this one will be likely to be the market top.
If the extension length continues according to the all-time pattern, and the market continues in the log growth curve range as it always has thus far, that will put the bitcoin top between $83k and $131k sometime in summer or fall of 2021.
Comment:
Zooming into the weekly chart..
Comment:
Still on track:
Updated the predicted range for the exact market top. Shown on a more detailed monthly chart, I've also outlined the pattern on the previous market cycle!