Angle is building up over the years. Apple and many other stocks are looking very overextended. I'm not trying to predict the top here it is extremely difficult. But this won't last forever. Mania Phase will end with a very harsh correction..
Many call for new lows now, but the descending triangle target is now hit. There is also a massive bullish divergence in the daily RSI and the BitMeX funding is negative meaning that many people are convinced we go lower. Is the bear trap in?
Here is my guess on how bitcoin will move the rest of 2019. I think we have entered re-accumulation / consolidation.
In the previous bull run, somewhere just after the start, we also entered re-accumulation, see my image below:
I think the pattern we are in right now is a bit similiar. So this means no big moves until...
To me, it looks like the market is moving slower after each cycle. Our last bull run was longer than the previous one. The 2014 bear market was also longer than the 2011 bear market.
To my findings, the bear market of 2014 moved 2.5x slower than the 2011 one. If we use that same factor this time according to my calculations the bear market now should end around...
I copied the fractal of the 2011 bubble and roughly scaled the speed to match our bubble. It would put a bottom in January 2020.
I was thinking.
Why would we bottom earlier than the 2014 bear market? Wouldn't it be more logic that the cycles take longer now? More money is involved. The 2011 bear market took half a year, The 2014 bear market took roughly a...