Good Morning Traders!
If Bitcoin correction has you worried, let's take a look at the analysis and trend. In this graph, I have also analyzed the previous 2 bull runs. So far this bull run has mostly run the same course of history and history does repeat itself! If you scroll back on the chart, you will see 2013 and 2017 analyzed similarly. The main difference that I see in this run from the last is the institutional investors and even bigger group of newcomers into the crypto space. How that might effect the historical pattern is yet to be determined. My goal in this analysis was to try to figure out how high and when.
In trying to figure out the top of this bull run and date of the top of the run, I had to use acceleration. Acceleration is the rise in percentage over the run in days. Historically both bull runs have been parabolic, increasing in acceleration over time. Acceleration or "rate of increase" is something that we can probably count on in parabolic run ups. That leaves days as a variable to plug in and find the percentage of gain. Once we predict the number of days, we can see the peaks and when they will occur. I measured the acceleration from a starting point of the bull run to the first major retraction. Historically, there are accelerations and pullbacks leading up to a parabolic run up. If History is repeating itself and continues this cycle as it is doing, we should see shorter pullbacks, shorter accelerations, and a top worth noting.
Based on my charts, I am seeing a top of around $135k ending on April 13th. There will be potentially 1 more major pull back after we reach 90k. I believe if history doesn't repeat itself exactly, we could see a variation of about 20-30% meaning the price could top around 110-135k and a date range of April 4th to April 27th. According to this we should also start seeing higher highs as of Mar 5th to Mar 8th, which would be near the end of the current retracement. I actually put this together a week ago, but so far it seems to be playing out.
Note:
Due to unforeseeable events that may occur due to twitter , bitcoin news, SEC, Pandemic's, or huge moves in bitcoin , don't hold to this chart. This is purely my analysis of what I think might play out. I've been right and I've been wrong, due your own due diligence. I'm not a professional trader, but someone trading in this space for several years. If you like my analysis or what I'm doing, give me a like.
If Bitcoin correction has you worried, let's take a look at the analysis and trend. In this graph, I have also analyzed the previous 2 bull runs. So far this bull run has mostly run the same course of history and history does repeat itself! If you scroll back on the chart, you will see 2013 and 2017 analyzed similarly. The main difference that I see in this run from the last is the institutional investors and even bigger group of newcomers into the crypto space. How that might effect the historical pattern is yet to be determined. My goal in this analysis was to try to figure out how high and when.
In trying to figure out the top of this bull run and date of the top of the run, I had to use acceleration. Acceleration is the rise in percentage over the run in days. Historically both bull runs have been parabolic, increasing in acceleration over time. Acceleration or "rate of increase" is something that we can probably count on in parabolic run ups. That leaves days as a variable to plug in and find the percentage of gain. Once we predict the number of days, we can see the peaks and when they will occur. I measured the acceleration from a starting point of the bull run to the first major retraction. Historically, there are accelerations and pullbacks leading up to a parabolic run up. If History is repeating itself and continues this cycle as it is doing, we should see shorter pullbacks, shorter accelerations, and a top worth noting.
Based on my charts, I am seeing a top of around $135k ending on April 13th. There will be potentially 1 more major pull back after we reach 90k. I believe if history doesn't repeat itself exactly, we could see a variation of about 20-30% meaning the price could top around 110-135k and a date range of April 4th to April 27th. According to this we should also start seeing higher highs as of Mar 5th to Mar 8th, which would be near the end of the current retracement. I actually put this together a week ago, but so far it seems to be playing out.
Note:
Due to unforeseeable events that may occur due to twitter , bitcoin news, SEC, Pandemic's, or huge moves in bitcoin , don't hold to this chart. This is purely my analysis of what I think might play out. I've been right and I've been wrong, due your own due diligence. I'm not a professional trader, but someone trading in this space for several years. If you like my analysis or what I'm doing, give me a like.
