I'm assuming that May was the top, but that doesn't have to be the case.
October through December have been very bullish months for Bitcoin, and in fact the most bullish months. It's possible we see a new top coming by December, but even if that's the case, then if history repeats itself, we should see 35-40 months before new highs. In either case, we should see the lowest lows in 2022.
If May wasthe top then the chart works for what it is and what it tries to predict going forward.
If not, then it'll have to be redrawn with a new high around December. If BTC keeps mooning after that, the cycle is broken and the chart is useless.
October through December have been very bullish months for Bitcoin, and in fact the most bullish months. It's possible we see a new top coming by December, but even if that's the case, then if history repeats itself, we should see 35-40 months before new highs. In either case, we should see the lowest lows in 2022.
If May wasthe top then the chart works for what it is and what it tries to predict going forward.
If not, then it'll have to be redrawn with a new high around December. If BTC keeps mooning after that, the cycle is broken and the chart is useless.
Update since we got a new ATH