I overlayed the last bear trend (59 weeks) with the current one (51 weeks) and compressed it to fit the current trend. Of course, this is super hypothetical and assumes that the coming bull trend plays out like the last one which is unlikely. But I guess this can give us a possible idea of what to expect for the future. A more in-depth heikin ashi (weekly) candlesticks analysis is coming as soon as the current short time bull trend loses it's power and a correction is about to happen.
The green vertical line is the next halving. (estimation)
The green vertical line is the next halving. (estimation)
Note
Let's look closer. You can see definitely a similarity between 2015/16 and 2018/19. 7500 USD is critical because breaking down also means breaking down into the next channel. (bottom somewhere at 5k) I am positive though. Moon is inevitable.
Note
You can find the channels from above here: <deleted>Note
It looks like we're on track.Two reverse candles on the weekly chart currently, big move is coming. If history repeats, I would go short here. I marked the interesting support lines blue. Reversal @ 25k which should bring us above 50k.
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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.