This analysis breaks down traditional trend ideas to try to determine the top of the current bull market cycle. Bitcoin recently flash-crashed on April 17, 2021. There was a power outage that occurred that greatly affected hashrate. DOGE just reached a parabolic ATH. The Pi Cycle top indicator crossed over. Alt season appeared to be in full force with Litecoin reaching over $300. Here's why I believe that we could be at a temporary top, but why a second top is also in sight. Notice the 3.1 fib level created from prior cycles from top to second substantial bottom. So far it has predicted almost exactly where the bear market bottom could occur. Yes, this would knock Bitcoin off-track from the Bitcoin Log Growth Scales and also remove this cycle from many other previously believed to be true cycles. The 3.1 value has determined almost perfectly where the cycle top occurs in the next cycle. This is why I believe around $370k will be the next Bitcoin cycle top. This cycle more closely resembles 2012/2012 than 2016/2017. Each cycle ROI has lengthened in time. Thoughts appreciated.
評論:
I made some MAJOR typos in this analysis. I meant to say 2012/2103 and $270k as cycle top! My bad