But I have discovered a small within the overall beartrend since the $1200 top two years ago. Both have wyckoff's, both have a high level of altcoin activity and people looking to gain additional return on the they are holding. But last time, it ended with people cashing out and leaving this market, will this time be different? ™
A break of the broader triangle would lead to a $240 retest, and potentially could trend us down to new lows.
A break up would imply $680 be tested, and if broken could lead to new ATH's because it would be making continued monthly highs. Bubble target would be $4800 (my guess based off the wisdom of the crowd).
So lets see where we go. Hopefully this is a little more clear than my previous (linked) chart I made comparing bubble cycles back in 2014 at this same period. Now I'm going to give comparing cycles a shot.
Weekly candles are compressing, probably will exit the 445-470 range within the next 2 weeks. Big move is (still...) brewing, as it was when I published this chart.