Following along from the last supercycle there will be a couple more ~30% pullbacks ahead before making a run at the next All Time High at near $250,000. This falls just past the Top Trend Line that has held for the last 2 ATHs in 2013 and 2017.
Comment
⋅
We could be inside the #2 pullback area now, which last time bottomed out at the top of the #1 pullback. Currently that would be around $42,000.
Comment
⋅
Recent drop in price is still in line with previous pullbacks. I believe we are completing the #2 pullback and a price level to keep an eye for the bottom would be $42-46k. The best is yet to come.
interesting. here is my comparison. note that it has us actually in the year 2016 and next year would actually be the 2017 in comparison
Bonavest
⋅
@Gunslinger2005, Here's why I don't think we are in 2016 like you show on your chart... at that time we had not passed the ATH of $1200... we were at $800.
In our current cycle we are long past the last ATH of $20,000. I believe we are at the 'squeeze' as you call it, in 2017.