Bitcoins Third Major Growth-Cycle Is Actually Developing!

Hi my friends,

welcome to this analysis where we are looking at the weekly cyclical timeframe perspective, bitcoins price-action over the last time, the cyclical movements, the third preliminary cycle actually highly possible developing, what we can expect from this the next times and how to handle upcoming situations in the right manner. The strong breakout bitcoin has shown above its psychological 10.000 USD resistance mark brought bitcoin overall into a bullish shape where a continuation is possible therefore it is important to note what is possible and what is not possible, furthermore, we should calculate a second corona wave into it as this is another factor which can bring unnatural movements to the downside seen in the breakdowns this year.

First of all, it is important to note that the price recovered from the corona-breakdowns and managed to climb above the accumulation range you can watch in my chart this was firstly the signal for a possible third major expansion phase starting from the global perspective and the break above resistance showed also the local resistance which increased the possibility for the next expansion phase, you can watch also that bitcoin formed each peak at the top of its expansion channel before it moved into a contraction phase where new accumulations started. This third expansion phase is also matching with the third key halving cycle I mentioned before confirmed with the dip after the halving and the following growth.

Taking all these factors into consideration now we should look on possibilities in future terms and where the price can determine, as the peaks building consecutive tops together with the higher contraction-line you can watch marked in my chart the next peak can exactly move to this line when marking the last top in the structure. We will see how this will develop over the next months and possibly year and what is important to look at possible invalidations that can drag the price down locally speaking. But overall as bitcoin has shown some solid volatility there should not be that much barrier in the next times for growth up to the third finishing peak after which another contraction will follow but till this point bitcoin has definitely some room to move.

In this manner, thank you for watching the analysis, support for more market insight, and all the best!

Information provided is only educational and should not be used to take action in the market.