2021 Bitrcoin Bullrun Projection to 100k
I'm by no means an expert but I had a play around with date ranges to see if there are any repeating time intervals between markup and markdown phases.
I have identified100 day markup and markdown phases which coincide with an older idea, which is not unique, that we're now in the 5th wave of a massive Elliot Wave spanning from the start of the bull run (which for me was 5th Nov 2020 first time bitcoin has had a new ATH since 2019)
Phase 1 Ended on the 8th of February when bitcoin was pumped by Musk to a new range. (95 days approximately 3 months)
Phase 2 started the same day with bitcoin entering the new price range of the massive peak formation at the current ATH. Phase 2 lasted until 20th of May 2021 when we dropped below the peak formation range back to the bottom price range of Phase 2 (Base of Elon Musk Pump Candle).
Phase 3 overlaps with Phase 2 and begins at the ATH and ends at the bottom of the markdown phase (accumulation) when the trend started to reverse.
Phase 4 begins and if it lasts 100 days like the previous phase and it should finish at the end of this month(October 2021) when I imagine another trend reversal. BEARVEMBER
Projecting Phase 5 (last wave) for 100k mid to end of February. When we will probably see the beginning of THE mother of BEAR markets.
I have identified100 day markup and markdown phases which coincide with an older idea, which is not unique, that we're now in the 5th wave of a massive Elliot Wave spanning from the start of the bull run (which for me was 5th Nov 2020 first time bitcoin has had a new ATH since 2019)
Phase 1 Ended on the 8th of February when bitcoin was pumped by Musk to a new range. (95 days approximately 3 months)
Phase 2 started the same day with bitcoin entering the new price range of the massive peak formation at the current ATH. Phase 2 lasted until 20th of May 2021 when we dropped below the peak formation range back to the bottom price range of Phase 2 (Base of Elon Musk Pump Candle).
Phase 3 overlaps with Phase 2 and begins at the ATH and ends at the bottom of the markdown phase (accumulation) when the trend started to reverse.
Phase 4 begins and if it lasts 100 days like the previous phase and it should finish at the end of this month(October 2021) when I imagine another trend reversal. BEARVEMBER
Projecting Phase 5 (last wave) for 100k mid to end of February. When we will probably see the beginning of THE mother of BEAR markets.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.