The idea of this post is not saying "the price should do this or that" the goal of this post is to bring an objective approach to what is going on right now, comparing it with the bull run from 2015 to 2018
Our objective is that based on the previous scenario or template, you can make your own conclusions of where we are right now on the bull run cycle.
Let's start with the main characteristics we saw in the previous Bull run (we will be using a logarithmic chart to observe all the sequences without losing perspective on the whole movement. If you don't know how a non-logarithmic chart looks like on the previous bull run, you can see it now.
Ok, so now you make an idea of why we are using the logarithmic chart. Let's start:
-After the price broke the previous All-time high at 1200.00, we saw 4 clear impulses with 3 major corrections
FIRST CORRECTION: -33% After making a 17% impulse from the Previous ATH level
SECOND CORRECTION: -39% After making a 152% impulse from the Previous ATH level
THIRD CORRECTION: -40% After making a 324% impulse from the previous ATH
After those 3 corrections, we have the last impulse of the Bullish movement without significant retracements. The final impulse reached a maximum extent of 1571% from the previous ATH. That was the TOP of the bullish impulse at 20000. From there, a new bearish trend started finding a bottom at 3000.00
So, where are we right now based on the previous scenario?
Here we will bring you the current chart using the same data we collected on the previous bull run. Now it's up to you to start making conclusions in terms of
-How far has the price gone from the previous ATH?
-Do you find the current corrections proportional to the ones that happened in the past?
-Do you find the sequence of current corrections aligned with the previous Bull run?
Thanks for reading!
Our objective is that based on the previous scenario or template, you can make your own conclusions of where we are right now on the bull run cycle.
Let's start with the main characteristics we saw in the previous Bull run (we will be using a logarithmic chart to observe all the sequences without losing perspective on the whole movement. If you don't know how a non-logarithmic chart looks like on the previous bull run, you can see it now.
Ok, so now you make an idea of why we are using the logarithmic chart. Let's start:
-After the price broke the previous All-time high at 1200.00, we saw 4 clear impulses with 3 major corrections
FIRST CORRECTION: -33% After making a 17% impulse from the Previous ATH level
SECOND CORRECTION: -39% After making a 152% impulse from the Previous ATH level
THIRD CORRECTION: -40% After making a 324% impulse from the previous ATH
After those 3 corrections, we have the last impulse of the Bullish movement without significant retracements. The final impulse reached a maximum extent of 1571% from the previous ATH. That was the TOP of the bullish impulse at 20000. From there, a new bearish trend started finding a bottom at 3000.00
So, where are we right now based on the previous scenario?
Here we will bring you the current chart using the same data we collected on the previous bull run. Now it's up to you to start making conclusions in terms of
-How far has the price gone from the previous ATH?
-Do you find the current corrections proportional to the ones that happened in the past?
-Do you find the sequence of current corrections aligned with the previous Bull run?
Thanks for reading!