Long

The cyclical nature of Bitcoin by RB

Updated

Hello, dear friends!😊 I present to Your attention a weekly chart of Bitcoin, which includes price action since 2016, helping us to see a more complete picture and forecast further price behavior.👍

Today, let's focus our attention on the cyclical nature of Bitcoin.
The cyclical nature of Bitcoin is a concept based on observing repetitive patterns and phases in its price dynamics.

https://www.tradingview.com/x/jgqX93s3/

On the chart, You can see a huge ascending broadening wedge, which I marked in white 🤍. The price has been within it since 2016. 😳 At the moment, it can be assumed that the price is aiming for the upper boundary of this wedge. 🚀

Inside this wedge, I noticed a very interesting regularity, which I'm eager to share with You.❤️

For the THIRD time, every three years, after the distribution phase (marked in orange), the price follows a significant rise of 550 percent, followed by the formation of a descending wedge, which ends with the same distribution phase and subsequent rise.

If we assume that this cyclicality is true and will repeat more, then by the end of this year or the beginning of the next, Bitcoin could reach $160,000.😱

🧐What do You think about this? Is this scenario realistic? What are You waiting for and what are You counting on?

Share Your thoughts with me in the comments!🙏

Thanks for Your attention🫶
Always sincerely Yours, Kateryna💙💛

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