This chart does not focus on price predict or trend reversals. Its aim is to showcase the extent to where we are in the current Bitcoin cycle. As we know it the much known Bitcoin 4 year phase may lapse into an extended repeating cycle.
Take a note of much drawn out patterns, indications True Strength Index (TSI) to Highs/Lows, timespan, Elliott's Wave theory and Fib retracement levels. Everything drawn out here has seemed to fit like a glove.
Phase 1:
the Birth of Bitcoin (Wave 1) most commonly know as the impulse wave, no one knows about it, it's a Ponzi, it doesn't retrace much and people find it hard for the perfect time to get in.
Phase 2:
After sharp correction, this is the time where price levels out, smart money and early adopts have their time to invest. Often known as the fomo period for most after thinking its too late.
Phase 3:
Additional another sharp correction, following sharp changes, zigzags and ups/downs this wave is the one most retail investors start to get involved. There is more eyes on the bigger picture. it's highly fluctuated by sentiment and manipulation.
Phase 4:
The final correction (est. 70%). This marks the beginning of the corrective sequence. Often thought of as a continuation or retracement (A), however can trap new investors (B). Sentiment turns, the realisation flips and most think this is the end (C)
and so then the cycle repeats again...
Is it a Ponzi or an opportunity of a lifetime?
Take a note of much drawn out patterns, indications True Strength Index (TSI) to Highs/Lows, timespan, Elliott's Wave theory and Fib retracement levels. Everything drawn out here has seemed to fit like a glove.
Phase 1:
the Birth of Bitcoin (Wave 1) most commonly know as the impulse wave, no one knows about it, it's a Ponzi, it doesn't retrace much and people find it hard for the perfect time to get in.
Phase 2:
After sharp correction, this is the time where price levels out, smart money and early adopts have their time to invest. Often known as the fomo period for most after thinking its too late.
Phase 3:
Additional another sharp correction, following sharp changes, zigzags and ups/downs this wave is the one most retail investors start to get involved. There is more eyes on the bigger picture. it's highly fluctuated by sentiment and manipulation.
Phase 4:
The final correction (est. 70%). This marks the beginning of the corrective sequence. Often thought of as a continuation or retracement (A), however can trap new investors (B). Sentiment turns, the realisation flips and most think this is the end (C)
and so then the cycle repeats again...
Is it a Ponzi or an opportunity of a lifetime?