BTCUSD All Time High cycles
Looking at previous Bitcoin all time highs, it becomes clear that they come in waves of 2. The purple lines show ATHs broken, that were then re-tested. After each re-test, the price creeps back up to the ATH where it then takes off for 2 more pumps. The blue lines show this pattern, ATHs that were never re-tested. Looking at the current trajectory, it would seem that the previous ATH of 1.1k is not likely for a retest. However, if we break 20k, and reach a new ATH, a 20k re-test looks very plausible on the current trajectory. This also keeps in line with previous bear/bull market time cycles.
If the price keeps push upwards, FOMO will kick in very quickly and very strong. Add to that the "I'll buy above 20k" sentiment, and we could be seeing a new ATH before the year end.
This is not trading advice, just purely my own views and analysis.
If the price keeps push upwards, FOMO will kick in very quickly and very strong. Add to that the "I'll buy above 20k" sentiment, and we could be seeing a new ATH before the year end.
This is not trading advice, just purely my own views and analysis.
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