BTCUSD: This Bull Cycle Jumped Right to Parabolic
Hello All,
The red fractal is the last bull cycle of bitcoin from 2013 top to 2017 top. It is in real scale and starts from the 20k top.
As we can see, the price was following a similar "Path" as last cycle, up until October of 2020. This is when the heavily diverged and the angle of price movement became the same angle of the end of the last bull cycle (shown in white ovals). This is largely because of PayPal announcing support for crypto. This caused a more parabolic start instead of 6 months of slow growth, then a parabolic finish.
It seems the current run from 10k is very similar to the finishing of the last bull run as the top angles are similar.
Thank you!
Please Comment And Like
The red fractal is the last bull cycle of bitcoin from 2013 top to 2017 top. It is in real scale and starts from the 20k top.
As we can see, the price was following a similar "Path" as last cycle, up until October of 2020. This is when the heavily diverged and the angle of price movement became the same angle of the end of the last bull cycle (shown in white ovals). This is largely because of PayPal announcing support for crypto. This caused a more parabolic start instead of 6 months of slow growth, then a parabolic finish.
It seems the current run from 10k is very similar to the finishing of the last bull run as the top angles are similar.
Thank you!
Please Comment And Like
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Follow me on twitter! twitter.com/traderview2
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.