Let's face it, we are blind to the immensity that lies ahead...
Any forecast as to the price of bitcoin in the near future is a gambling game.
But that's what we are nonetheless, whether you're a daily trader or the most rigid of the hodlers, all of us are gambling in a certain way.
The problem with BITCOIN is its relative youth at the historical market level.
We know however that the market in BITCOIN adjusts to cycles of 4 years, each of which is started, more or less from the famous "HALVING". In addition, we know that the condition that the Monthly RSI was met is that it reached 96 twice, marking the end of waves 3 and 5 of each Bull Cycle
Based on the data we have, we could predict something similar to happen with the present Bull Cycle.
Approximately, the past Bull Cycles had a duration of about 1035 days if we count the period of "accumulation", which was very long, it is also included.
Over these 1035 days, at the present time we have consumed 762 days since the price of BITCOIN bottomed out at the beginning of 2019, just below $ 3000, with which we could say that we still have a little more than 9 months of spectacular Bull market, putting its ATH before falling towards the end of the year.
But first, we will have a correction towards the summer, marking the end of wave 3.
More or less, this seems pretty clear since BITCOIN moves in these kinds of 4-year cycles apparently.
What I am not so clear about is the price level that will reach at the end of wave 3 and at the end of wave 5 ... for now, if we follow the "Bullish Channel" in which BITCOIN seems to move for 2 cycles, the third wave would reach a value close to 200K and the third would exceed 300k ... I want to believe it but my protective brain tells me that this cannot be possible. Or, maybe yes?
Enjoy!
*Disclaimer: This is just my personal point of view, please, do your own assessment and act consequently. Neither this post nor myself is responsible of any of your profit/losses obtained as a result of this information.
