We had the fractal pattern figured out in the 2013 bull market and subsequent bear market with the double bottom breaching below $200. This patten then continued for the 2017 bull market and the following bear market, then again repeating the double bottom, with the second bottom hitting below the trend line. Each time when it broke below this line, it was the signal of the start of the next bull market. Each time the double bottoms were both around 3x the prior all time high, and aproximately 19x the prior low.
Continuing this pattern, projecting it forward, brings us to a low of around $60k for the first bottom, to hit sometime around December of 2022, then for the second bottom around March of 2023. This is doubly confirmed as support because of the duration we hovered between $50k - $60k in 2021, and the trend line passing between the bottoms in those time frames, it serving as support for the first, then being breached by the second bottom, although the second bottom will be higher than the first.
If I were to play the market, I would lighten my bags in the high, approximately 15-16x the previous ath, starting around $220k, preserving some into the low $300k. I would then keep some in case this time it was different. With a plan to start buying in the bear market around $80k, saving some cash for the low or bounce back from the low, but if the market turned around too soon or goes sideways, you can enter in the second bottom below the trend line, just before the next bull market that'll begin in 2023 and end in late 2025/early 2026.
Continuing this pattern, projecting it forward, brings us to a low of around $60k for the first bottom, to hit sometime around December of 2022, then for the second bottom around March of 2023. This is doubly confirmed as support because of the duration we hovered between $50k - $60k in 2021, and the trend line passing between the bottoms in those time frames, it serving as support for the first, then being breached by the second bottom, although the second bottom will be higher than the first.
If I were to play the market, I would lighten my bags in the high, approximately 15-16x the previous ath, starting around $220k, preserving some into the low $300k. I would then keep some in case this time it was different. With a plan to start buying in the bear market around $80k, saving some cash for the low or bounce back from the low, but if the market turned around too soon or goes sideways, you can enter in the second bottom below the trend line, just before the next bull market that'll begin in 2023 and end in late 2025/early 2026.
