Market cycle study through sinewave suggests the following:
Bull market are long as one full wave length: Lambda (peak to peak)
Bear market lasts Lambda/2
Accumulation lasts Lambda/2
Currently in accumulation phase.
Sinewave peaks overlap monthly macd histogram peaks
we will soon find out if bitcoin -3.21% was in a descending triangle or in a massive Wolfe Wave pattern
Technicals of a WW:
1 - Points 1-2 should be FARTHER apart than points 3-4
2 - Point4 should exist WITHIN the range of Points 1 and 2
3 - The lines defined by these points should be referred to as Line 2-4 and Line 1-3
4 - Line 2-4 and Line 1-3 should...
Main reasons i'm calling 13k as first target from now:
i) weekly MACD crashed faster than price; now it is 'resetted' and ready to reverse.
ii) weekly RSI at 40 is the border line from the bull and the bear market. History has proven that from here we bounce/reverse.