Simple channels have formed, while volume is down, we are in a short term correction and looking at good buy points to take long.
Since just shortly before getting sworn in, the market has been an a rapid and steady decline with no end in sight and the most staggering inflation in over 40 years. How much worse will things get???
We see the similar bottom flatting of STOCH RSI on the Daily on all previous ATHs this year, and this could very well signal both a new bull channel, not quite as steep as the 1st quarter, but actually healthier, and more sustainable to easily hit a target of 70K by mid May. 26 - 30 % correction seems par for the course. We should know by the end of April 26th...
This was based on an idea proposed by Nicholas Merten in a recent tweet. The diagonal line serves as the median point on a sine wave pattern we see emerging in the growth of market cap over the entire crytpo-currency space. The range projected for the next cycle as we approach crossing above the median. If we expect a similar curve, and use even a small...
If we study the price action of previous Bitcoin Bull cycles, we can expect that the next top should be able to re-trace down by approx. -95% to the TOP of the PREVIOUS bull cycle. We also look at the timing of the peak to occur at a ratio after the Bitcoin mining halving events which it has done in the previous Bull cycles. See www.coinwarz.com for projected...
I called this next bull cycle awhile ago. History will repeat itself again. One bull run always dwarfs the last. We're in the next bull cycle. Right now we're just in a small correction, but the top is a long way up.
This simple lifeline of BTC shows that the bull runs always dwarf the last one.