-We had the Disbelief rally back up to the 4k ceiling back in Feburary of 2019.
-Followed by Hope as price was holding higher levels and consolidating under the 4k resistance.
-Optimism then set in when 4k broke and price popped up the 5k region.
-After that, Belief set in and price went parabolic through the old 6k floor up to the $7400 region before further consolidating.
-Thrill then sets in as price rockets above 10k, 11k, 12k.
-And then finally, price hits Euphoria just under 14k before we see a blow-off top into a distribution schematic.
-Price distributes for several months before breaking the 9k floor and dropping as low as $7295 or so only to then rocket up over 50% in less than 2 days to back above 10k, before eventually setting in another lower-high and confirming the s/r flip at the previous support floor of the distribution range around 9-10k. This confirms it as new resistance, which in turn, fits in with the Complacency phase.
-After setting in that lower high around 9-10k, price has now entered the Anxiety phase in my opinion, and we likely transitioning into the Denial phase.
I copied a from the 6k->3k drop for the remaining portion after the anxiety phase. (Just for comparison to give us a better idea of how the rest of the market cycle could play out.) The is only for visual purposes. Not intended to be targets or anything of the sort.
Link to the market cycle chart: https://imgur.com/a/HKtW630
-This is not financial advice. Always do your own research and own due-diligence before investing and trading, as for investing and trading comes with high amounts of risk. I am not liable for any incurred losses or financial distress.