Bitcoin (BTC/USD): Accumulation before the next peak 2020-2021?
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Here's an update on my Related Idea:
If the trends during Bitcoin's previous halvings tell anything, it's in the ~12 months following, Bitcoin prices experience a rapid bullish cycle. This cycle seems to proceed after a dip. I'm guessing this is a good place to accumulate more. This is all a guess. Let's be real, the halvings only happened twice. It's not enough evidence for a pattern. But if history rhymes, it looks like a breakout of this triangle around May 2021.
Coincidentally, the triangle formation ends about 12 months from the halving. I *hope* for a breakout by this point. The next peak would tower over the last one.
Thanks for checking out my chart astrology =) Let me know your thoughts.
If the trends during Bitcoin's previous halvings tell anything, it's in the ~12 months following, Bitcoin prices experience a rapid bullish cycle. This cycle seems to proceed after a dip. I'm guessing this is a good place to accumulate more. This is all a guess. Let's be real, the halvings only happened twice. It's not enough evidence for a pattern. But if history rhymes, it looks like a breakout of this triangle around May 2021.
Coincidentally, the triangle formation ends about 12 months from the halving. I *hope* for a breakout by this point. The next peak would tower over the last one.
Thanks for checking out my chart astrology =) Let me know your thoughts.
Note
Here's a historical chart of Bitcoin's previous halvings via bitcoinblockhalf.combitcoinblockhalf.com/images/bitcoin-halving-chart.png
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