- The sin wave suggests a peak in the crypto markets Q1 2022 giving us 12 weeks to reach the peak
The similarities between bitcoins 2011-2013 rally and bitcoins 2020-2022 rally are uncanny. In 2011 there was an initial rally before a large sell off back to the support, followed sharply by a breakout through the support and now resistance level. After a couple months of noise around this resistance level a double spring as btc attempted to break through the support level. Whilst it never managed to get on top of the resistance, BTC peaked out at 1300 as opposed to it peaking out about $30 at its ath above the support.
I think we can apply these ideas to the most recent btc rally as we see a similar pattern emerging. i.e. One leg up, break through support now resistance, followed by a lot of noise trying to break the resistance and soon we'll see the second major leg up to around 150k.
Other cryptos will follow as they are largely dictated by BTC.
Wishing you all a great Christmas and BTC breaking new highs into the new year and beyond.
See you on the moon
The similarities between bitcoins 2011-2013 rally and bitcoins 2020-2022 rally are uncanny. In 2011 there was an initial rally before a large sell off back to the support, followed sharply by a breakout through the support and now resistance level. After a couple months of noise around this resistance level a double spring as btc attempted to break through the support level. Whilst it never managed to get on top of the resistance, BTC peaked out at 1300 as opposed to it peaking out about $30 at its ath above the support.
I think we can apply these ideas to the most recent btc rally as we see a similar pattern emerging. i.e. One leg up, break through support now resistance, followed by a lot of noise trying to break the resistance and soon we'll see the second major leg up to around 150k.
Other cryptos will follow as they are largely dictated by BTC.
Wishing you all a great Christmas and BTC breaking new highs into the new year and beyond.
See you on the moon
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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.