This is Bitcoin on the 2W time-frame. This has been used very rarely and understandably so as it is not a popular time-frame but on this particular occasion it offers valuable insight on BTC's long-term Cycles.
As you see the RSI is trading under a Lower Highs trend-line since its inception. Every Lower High is a Top and a strong pull-back has followed. On the current price action, the most recent Lower High didn't form the Cycle Top as the price is now testing the ATH, something that has historically shown that is a continuation sign of the Bull Cycle. Consequently, it resembles the March 2013 Lower High which was the last High before the Bull Cycle Top/ ATH. This suggests that the next RSI contact on the Lower Highs trend-line may be the Cycle's Top.
The LMACD is also printing a similar sequence as it is forming a Bullish Cross following April's Bearish cross, a pattern that was also seen in late 2013. The LMACD Bearish Cross of June 2013 was succeeded by the Bullish Cross of October 2013 and the Cycle Top was formed shortly after.
What do you think? Will history repeat itself? Feel free to share your work and let me know in the comments section!
@TradingShot thanks for sharing, have a similar idea of a double top in the weekly , but I like it to see in the 2week time frame, the longer the time frame he stronger it is,
peterbhc
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You deliver gem after gem, thank you
PollysCracker
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Isn't the RSI showing a medium bearish divergence?
suvny21
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what a great outlook omg!
testertje777
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Extended cycles and diminishing returns. This cycle will not straight up copy 2013. Way higher market caps involved. I expect the peak to be somewhere in 2022 Q1-Q2.
zcj3srdkqh
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@testertje777 i also think that this bull run top will be in mid 2022, also based on btc cycles that gets longer by exact percentage, therefore mid 2022, but how you imagine that happening, can’t be only parabolic for all this time, but last stages always used to be parabolic with btc.. what is your view on this?
testertje777
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@zcj3srdkqh, Well, as usual, there will be corrections along the way. The one we had between May-August was a pretty intensive and long one. I think we'll still be seeing some 20-30% corrections, things simply don't go straight up. Corrections and sideways movement can still extend the cycle quite some time.
Of course these are my thoughts. I have no crystal ball and once momentum and hype builds up it can go up really fast.
neuromancer
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Hell, the month RSI shows it, even the 1W shows it. We are in for a ride!
sascanio
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Thank for your the info, great view !!! I do believe that a top will come soon, however I think it would most likely be in 2022 and not this year.