Jackdaw12

Where we are in relation to BTC halvening?

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BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
Everyone thinks we're going up still. to me it seems pretty unlikely.

Pi-Cycle top is in.
We were already overbought on the weekly RSI a month ago

Granted we're a little early for the top but we're in the middle of the range (42 - 27 weeks) stage in the bitcoin halvening cycle now as previous tops.
We're also had a peak at 847d bar just like the previous top.

I think the bottom will be around 4th April 2022 somewhere around 20k which is our previous top which will be around the 200 MA on the weekly. It seems unlikely we'll go below that as we have never gone below a previous high market top in a cycle. If we do go below it might only be a wick to 14k .

Thoughts?

Comments

Yes, there have been several commentators calling the Pi-Cycle already in. I say, not so fast fellow punters. Look at the 2013 experience. Big surge from Jan to April, then a 60% retracement through to August, and a further push to all-time highs in December which proved to be the Pi-Cycle top. 2021 could mirror this and the current setup makes it better than likely. Cheers
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This interesting. I too saw it coming back to the 20s before the final big push upwards that consensus amongst the bulls seems to be the case. Ppl seem to think this push back up to $40k was it, but I still feel a pullback, and bigger than what we've already seen back to $37k or so. I'm resisting the urge to just buy :)
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@JanG84, I haven't sold anything, nor do i dare, i don't want to end up with less but i don't see it going to new highs this cycle.
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I posted this last night and now my chart has lost everything i drew, anyone know how to get it back?
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