I'm by no means an expert but I had a play around with date ranges to see if there are any repeating time intervals between markup and markdown phases.
I have identified100 day markup and markdown phases which coincide with an older idea, which is not unique, that we're now in the 5th wave of a massive Elliot Wave spanning from the start of the bull run (which for me was 5th Nov 2020 first time bitcoin has had a new ATH since 2019)
Phase 1 Ended on the 8th of February when bitcoin was pumped by Musk to a new range. (95 days approximately 3 months)
Phase 2 started the same day with bitcoin entering the new price range of the massive peak formation at the current ATH. Phase 2 lasted until 20th of May 2021 when we dropped below the peak formation range back to the bottom price range of Phase 2 (Base of Elon Musk Pump Candle).
Phase 3 overlaps with Phase 2 and begins at the ATH and ends at the bottom of the markdown phase (accumulation) when the trend started to reverse.
Phase 4 begins and if it lasts 100 days like the previous phase and it should finish at the end of this month(October 2021) when I imagine another trend reversal. BEARVEMBER
Projecting Phase 5 (last wave) for 100k mid to end of February. When we will probably see the beginning of THE mother of BEAR markets.
I have identified100 day markup and markdown phases which coincide with an older idea, which is not unique, that we're now in the 5th wave of a massive Elliot Wave spanning from the start of the bull run (which for me was 5th Nov 2020 first time bitcoin has had a new ATH since 2019)
Phase 1 Ended on the 8th of February when bitcoin was pumped by Musk to a new range. (95 days approximately 3 months)
Phase 2 started the same day with bitcoin entering the new price range of the massive peak formation at the current ATH. Phase 2 lasted until 20th of May 2021 when we dropped below the peak formation range back to the bottom price range of Phase 2 (Base of Elon Musk Pump Candle).
Phase 3 overlaps with Phase 2 and begins at the ATH and ends at the bottom of the markdown phase (accumulation) when the trend started to reverse.
Phase 4 begins and if it lasts 100 days like the previous phase and it should finish at the end of this month(October 2021) when I imagine another trend reversal. BEARVEMBER
Projecting Phase 5 (last wave) for 100k mid to end of February. When we will probably see the beginning of THE mother of BEAR markets.