BITCOIN The Bull Cycle is nowhere near over and may reach $200k!
This is a comparison of Bitcoin's three major Cycles: The current one (2018 - 2021), the second (2014 - 2017) and the first (2011 - 2013).
As you see each Cycle starts with its Bear Cycle, with the second and the current one making a bottom on the 1W MA200 (orange trend-line) and then starting the first phase of the Bull Cycle.
The 1W MA50 (blue trend-line) plays a major role during the Bull Cycle as in all instances it has supported the uptrend and in the case of the current Cycle even more emphatically.
Right now BTC appears to be coming off the "Last shake-out phase" which is the major volatility event before the price resumes the Cycle's bullish trend and close it out with the final and more aggressive Parabolic Rally of the Cycle. This Last shake-out phase seems to be taking place every time around the time the price hits the 1.5 - 1.618 Fibonacci extension zone from the Top of the previous Cycle.
The 2.382 Fibonacci extension has a big part in the Final Parabolic Rally as in the 2011 - 2013 Cycle the Top was priced just below the extension, while in the 2014 - 2017 Cycle it was priced exactly on it. The current 2.382 Fibonacci extension sits roughly around $250000, so if the same patterns holds, it's not unreasonable to expect prices near or above 200k at the end of the current Cycle.
What do you think? Feel free to share your work and let me know in the comments section!
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As you see each Cycle starts with its Bear Cycle, with the second and the current one making a bottom on the 1W MA200 (orange trend-line) and then starting the first phase of the Bull Cycle.
The 1W MA50 (blue trend-line) plays a major role during the Bull Cycle as in all instances it has supported the uptrend and in the case of the current Cycle even more emphatically.
Right now BTC appears to be coming off the "Last shake-out phase" which is the major volatility event before the price resumes the Cycle's bullish trend and close it out with the final and more aggressive Parabolic Rally of the Cycle. This Last shake-out phase seems to be taking place every time around the time the price hits the 1.5 - 1.618 Fibonacci extension zone from the Top of the previous Cycle.
The 2.382 Fibonacci extension has a big part in the Final Parabolic Rally as in the 2011 - 2013 Cycle the Top was priced just below the extension, while in the 2014 - 2017 Cycle it was priced exactly on it. The current 2.382 Fibonacci extension sits roughly around $250000, so if the same patterns holds, it's not unreasonable to expect prices near or above 200k at the end of the current Cycle.
What do you think? Feel free to share your work and let me know in the comments section!
--------------------------------------------------------------------------------------------------------
Please like, subscribe and share your ideas and charts with the community!
--------------------------------------------------------------------------------------------------------
Comment:
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