predicting the market top
looking at the previous bull season on a weekly time frame (where the market top was in the first week of January 2018), it took 154 weeks from the market bottom to market top and 77 weeks from the previous bitcoin halving to the market top. if we extrapolate this to the current bull season (where the market bottom happened in Dec 2018), 154 weeks extends to the end of november 2021. When we extend 77 weeks from the most recent bitcoin halving, it takes us to the beginning of november 2021. So my prediction is that the total market cap is going to top in the month of november of 2021.
if the date prediction is correct, the fib channel top band shows a total market cap around 17 trillion usd. one band lower sits around 8 trillion usd. maybe an average of these two around 12 trillion usd might be a reasonable top to target. let's see how this pans out.
if the date prediction is correct, the fib channel top band shows a total market cap around 17 trillion usd. one band lower sits around 8 trillion usd. maybe an average of these two around 12 trillion usd might be a reasonable top to target. let's see how this pans out.
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