BTC: Accumulation Cylinder/ Multiple tests of support/ Supercyle
To start off an comparison with previous bullcycle, because i believe we are in similar cyle
cycle 2018 - 2022 was the 4th an 5th wave of the primary count and ended the 3th wave of the cycle
I don't believe the pump from 3k tot 14k was part of the impulsive move up, but part of the bearmarket-correction
The drop in 2014 (Wave 2 primary count) was 400 days long and one major swing down
To alternate in a way, wave 4 should be longer and more sideways than wave 2
So thats why i believe the bearmarket correction ended on the corona-dump
We had 3 major swings, from 20k tot 3k (A), 3k to 10k (B), 10k to 4k (C)
And the duration would then be 819 days long, twice as long
Coming back to this cycle, i believe we are currently still working on wave 4 of cycle count
So i expect and ABC-correction to the upside for an lower high around 40k - 50k (B)
And to finish an impulsive move down to end the bearmarket-correction around 22k (C)
Currently BTC is 688 days in the bearmarket, comparing with previous cycle, i expect it to be even longer than 819 days, this would be around februay until the summer of 2024
Once the impulsive move starts, there is no stopping bitcoin, so until this happens there will be a price surpression of around 2x multiple
From the bottom we had an 2x from 15k tot 30k (A)
I expect a drop to 22k-20k (B) to then have another 2x from 20k-22k tot 40-50k (C)
Then another drop to finish the larger correction in (C) to again 22k-25k
Have another 2x in wave 1 to 50k-60k and have another deep correction
In the bigger picture this will form in my opnion an larger accumulation cyclinder
A little of pingpong (multiple tests of support) with us retail until the real impulsive move starts in wave 3 to above previous All Time High
cycle 2018 - 2022 was the 4th an 5th wave of the primary count and ended the 3th wave of the cycle
I don't believe the pump from 3k tot 14k was part of the impulsive move up, but part of the bearmarket-correction
The drop in 2014 (Wave 2 primary count) was 400 days long and one major swing down
To alternate in a way, wave 4 should be longer and more sideways than wave 2
So thats why i believe the bearmarket correction ended on the corona-dump
We had 3 major swings, from 20k tot 3k (A), 3k to 10k (B), 10k to 4k (C)
And the duration would then be 819 days long, twice as long
Coming back to this cycle, i believe we are currently still working on wave 4 of cycle count
So i expect and ABC-correction to the upside for an lower high around 40k - 50k (B)
And to finish an impulsive move down to end the bearmarket-correction around 22k (C)
Currently BTC is 688 days in the bearmarket, comparing with previous cycle, i expect it to be even longer than 819 days, this would be around februay until the summer of 2024
Once the impulsive move starts, there is no stopping bitcoin, so until this happens there will be a price surpression of around 2x multiple
From the bottom we had an 2x from 15k tot 30k (A)
I expect a drop to 22k-20k (B) to then have another 2x from 20k-22k tot 40-50k (C)
Then another drop to finish the larger correction in (C) to again 22k-25k
Have another 2x in wave 1 to 50k-60k and have another deep correction
In the bigger picture this will form in my opnion an larger accumulation cyclinder
A little of pingpong (multiple tests of support) with us retail until the real impulsive move starts in wave 3 to above previous All Time High