Seems like we are getting closer to seeing the Mother of all Pumps in 6 to 8 weeks. Short-term downside risk to 60 Cents. This analysis will be invalidated if a day candle open and close below the lower trendline.
If the analysis of the first 50 years of bitcoin is correct, the next peak is in the summer of 2024. If the next peak is in the summer of 2024, right now (Jan 2022) bitcoin is on wave 4. (3.3.4 In the chart) Wave 4 can go as low as 20k and still preserve the market structure. If this is correct we should not see an all-time high until Nov/Dec 2022.
In the previous post, we analyzed that the number of days from peak to peak increased by a factor of 1.62 in every wave so far since the creation of bitcoin. Adding trend channels and Elliot waves principles I counted 5 sub-waves to find the macro peaks. This analysis shows that we are in the middle of wave 3-3 and that wave 3-3 should end in the summer of 2024...
The number of days from peak to peak on each Bitcoin cycle has increased by a factor of +/-1.62 on every cycle. (The Fibonacci Golden Ratio) If that repeats, this cycle should end near July 2024. *Data is not very clear in the first year. Please share if you have info to back or dismiss this theory. CYCLE # OF DAYS RATIO 0 to 1 338 ...
If crypto adoption succeeds, +/-30T crypto market cap should be the next step.