BTCUSD - 2013 vs 2021 - More similarities
Hi and thanks for visiting, glad you're taking the time to read my analysis.
If you are familiar with my previous analysis, you know I pointed out that there are a lot of similarities between the 2013 and 2021 bull runs.
If you're not familiar with it, I suggest you go and have a look at it here:
Now I found even more similarities :
The time it took for the 2013 mid-cycle high to be broken was pretty long, 30 weeks (7 months) to be precise.
Now look at the 2021 cycle, the 30th candle after the mid-cycle high is the one that broke above it.
In 2013, after breaking above that mid-cycle high, it took only 3 weeks to reach the 2013 ATH, reaching the 2.272 fib extension.
Does that mean that we will see the same now in 2021?
To be honest, I doubt that we'll move up that fast, the 2.272 fib extension is around the 200k USD mark, and I don't think we'll reach that by the end of November.
So, keeping that in mind, I think it's more realistic to see a price around 100k by the end of the year, and potentially reaching that 200k level in Q2 of 2022.
For what it's worth, I'm not a financial advisor and this analysis/projection is just my view of what I think is possible. If you want to put money on the line, better do your own research.
So, what do you think? Where do you think bitcoin will take us by the end of the year and what do you think is going to be the cycle top?
I'm looking forward to your comments and as always, if you liked this idea, a 👍🏽 would be appreciated.
If you are familiar with my previous analysis, you know I pointed out that there are a lot of similarities between the 2013 and 2021 bull runs.
If you're not familiar with it, I suggest you go and have a look at it here:
Now I found even more similarities :
The time it took for the 2013 mid-cycle high to be broken was pretty long, 30 weeks (7 months) to be precise.
Now look at the 2021 cycle, the 30th candle after the mid-cycle high is the one that broke above it.
In 2013, after breaking above that mid-cycle high, it took only 3 weeks to reach the 2013 ATH, reaching the 2.272 fib extension.
Does that mean that we will see the same now in 2021?
To be honest, I doubt that we'll move up that fast, the 2.272 fib extension is around the 200k USD mark, and I don't think we'll reach that by the end of November.
So, keeping that in mind, I think it's more realistic to see a price around 100k by the end of the year, and potentially reaching that 200k level in Q2 of 2022.
For what it's worth, I'm not a financial advisor and this analysis/projection is just my view of what I think is possible. If you want to put money on the line, better do your own research.
So, what do you think? Where do you think bitcoin will take us by the end of the year and what do you think is going to be the cycle top?
I'm looking forward to your comments and as always, if you liked this idea, a 👍🏽 would be appreciated.
Check out my FREE indicator scripts:
► tradingview.com/u/Nico.Muselle/
Twitter: twitter.com/NicoMuselle
► tradingview.com/u/Nico.Muselle/
Twitter: twitter.com/NicoMuselle
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.