I wonder if the last two blow off tops point to the next one by drawing a simple straight line connecting the peaks. I have seen fib circles point to the same conclusion of somewhere in the 200k range, and the similarities to the last cycle is pretty incredible. We have Elon on board which bring positive sediment, now wheres the FUD? Mt Gox? Scaling? Security issues? Regulation? US gov play? Big players out? Its coming.
A correction is coming and it will have a name. Around this time last cycle BIP and scaling drama, IPO scams, Dimon talking shit. The goal here is to hodl through the coming storm and ride this all the way to the top where I sell a portion of old hodlings for cat food.
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We have big players out, just as quickly as Tesla started accepting bitcoin Elon now announced they have stopped accepting it due to environmental concerns of the mining process LOL.
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How did I forget China? China FUD and when will Mt. Gox reenter the news? This is our correction now, it can last awhile. Remember that BTC has exploded in price over a very short time in 2017, in 11 weeks it went from $4400 to 20k, the majority of that move happened in 6 weeks across November and December.
Thats how fast it can happen, be ready, the run to the top is not over.
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This correction looks extremely similar to the correction at the end of 2018 into early 2019 before it reversed up from 3.2k to almost 14k.
I see that in a very similar way for a quite some time. There is a huge bearish div now on daily and weekly, which seems to bring a deeper correction soon ( like -40% or so ).
What is misleading on this pump, is that it was growing too fast till now, so it looks like it was about to finish in just a couple of weeks from now.
But if the correction will come, it will gonna go back on a more healthy track, and ultimately set the final ATH higher.
Let's wait and see what the future will bring us!
gigabyte3d
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Any new updates?
ruraldisturbance
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@gigabyte3d, Price is following my prediction pretty closely, I don't see an extended bottom here or "crypto winter" that everyone is so afraid of. We just crossed into price discovery in December (5 months ago) breaking the old all time high of 20k, so I do expect this bull run to continue. Even if price action is wildly divergent from my prediction on this chart I still believe were heading up, one way or another. If you haven't read this post from Goldbug give it look, I usually agree with him.
What is misleading on this pump, is that it was growing too fast till now, so it looks like it was about to finish in just a couple of weeks from now.
But if the correction will come, it will gonna go back on a more healthy track, and ultimately set the final ATH higher.
Let's wait and see what the future will bring us!