The chart shows as 2 weeks but the counting of candles is weekly. The numbers you see marked at the market tops are the number of weeks it took for Bitcoin to reach a top after the halving event. The halving event is represented by the vertical lines you see on the chart. The numbers at the bottom of the market are the number of weeks it took for Bitcoin to find a bottom from its previous top.
As we progress, the tops take longer to form and the corrections are shorter. I'm not saying this is to be expected in the following cycles, but it's interesting data to analyze to gauge when Bitcoin could potentially top. As per the last top targets, you can see 25/50/80. These are just timestamps where I want to closely examine the chart and observe what price action and indicators are showing.
This is not a target for taking profit but rather something to incorporate into your technical analysis for potential buy and sell opportunities. Ultimately, I will look at weekly and monthly price action and RSI for divergence to exits and entries.
As we progress, the tops take longer to form and the corrections are shorter. I'm not saying this is to be expected in the following cycles, but it's interesting data to analyze to gauge when Bitcoin could potentially top. As per the last top targets, you can see 25/50/80. These are just timestamps where I want to closely examine the chart and observe what price action and indicators are showing.
This is not a target for taking profit but rather something to incorporate into your technical analysis for potential buy and sell opportunities. Ultimately, I will look at weekly and monthly price action and RSI for divergence to exits and entries.
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