Wave #1 - 193 Days
Wave #2 - 261 Days
Wave #3 - 396 Days
Wave #4 - 286 Days
Wave #5 - ?
It is said that Wave 5 can be the same size as Wave 1 or Wave 3, so I am expecting to see another impulse to the upside before this cycle is finished. I was paying attention to the number of days it took for Wave 1 to complete (193), and the number of days it took for wave 3 to finish (396) to try and determine when we will see a cycle top for Bitcoin. If we speculate that Wave 5 will complete in roughly the same time as Wave 1, we are looking at an August peak. If Wave 5 is closer to the Wave 3 duration, 340 days puts us to the end of the year. I wouln't expect Bitcoin to top in 2023 due to the height of the market, and people taking profits to pay for their 2022 taxes.
Lets hope for a Summer peak!
Wave #2 - 261 Days
Wave #3 - 396 Days
Wave #4 - 286 Days
Wave #5 - ?
It is said that Wave 5 can be the same size as Wave 1 or Wave 3, so I am expecting to see another impulse to the upside before this cycle is finished. I was paying attention to the number of days it took for Wave 1 to complete (193), and the number of days it took for wave 3 to finish (396) to try and determine when we will see a cycle top for Bitcoin. If we speculate that Wave 5 will complete in roughly the same time as Wave 1, we are looking at an August peak. If Wave 5 is closer to the Wave 3 duration, 340 days puts us to the end of the year. I wouln't expect Bitcoin to top in 2023 due to the height of the market, and people taking profits to pay for their 2022 taxes.
Lets hope for a Summer peak!
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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.
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.