Since its inception, Bitcoin has displayed a consistent price action pattern across cycles.
During bear markets, prices adhere to a singular trendline. When breaching it, Bitcoin enters a parabolic trajectory. Historical trends underscore this pattern: from 2012-2014, then 2015-2017. The 2019-2021 cycle deviated slightly due to the "COVID-puncture," altering the bull market shape. Ignoring this anomaly, Bitcoin's price aligns with its age-old parabolic curve.
While doomsayers predict a potential Black Swan event, with prophecies of a dip to 10K-16K, history informs us. The 2014 bear market ended with a double-dip bottom, akin to the 2018 scenario. Hence, the notion of a second dip lingers, urging caution. It's unwise to go all-in at any market point. HODL your Bitcoin, maintaining some cash reserves offers a prudent approach.
Additionally, observing the RSI on the weekly chart reveals a recurring pattern. The RSI typically ascends to the 70 level as the market exits its bottoming phase. This repetitive behavior underscores Bitcoin's cyclical nature, offering strategic cues for seasoned investors.