The parallel with the previous cycle is obvious.
Continued decline to 200W SMA should be expected. Death cross is likely averted, and a new bullish cycle will begin perhaps in a year's time.
The volume corresponds with this theory.
Of course, this time it's different.
Super-long-term target will be between 100k & 200k (see pitchfork). That's the end of Wave 5. I guess around 2023.
That's when the crypto bubble will have a huge burst. Crash to perhaps 10-20k. New, better techs will arise from the ashes.
Continued decline to 200W SMA should be expected. Death cross is likely averted, and a new bullish cycle will begin perhaps in a year's time.
The volume corresponds with this theory.
Of course, this time it's different.
Super-long-term target will be between 100k & 200k (see pitchfork). That's the end of Wave 5. I guess around 2023.
That's when the crypto bubble will have a huge burst. Crash to perhaps 10-20k. New, better techs will arise from the ashes.
Note
This screenshot shows Wave 5Note
200W SMA target is possibly around 2.5kjust to clarify
Note
imkeshav suggests that the Wave 4 may be over, which of course is possibleWe're under 50W but not decidedly. A break under 7k would confirm that.
I think this market is decidedly more volatile & hence a deeper correction is within reason.
Must admit, the main reason I think it could still go down is the 50W SMA & of course the death cross on the daily.
Anyway, the summer is coming...
Note
Note
market indecision, too go up must go down first; to go down must go up firstNote
the market has indeed stabilized in the last few days, if only because the willingness to sell is lowthere's a real chance that the market stays in this areas for the mid-term
Note
Note
weekly death cross? 
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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.