In 2017 at least, Bitcoin has been showing us very consistent and clear 60 day Cycles. The sample size is relatively small, but the consistency is impressive.
Clearly for this Cycle, #Bitcoin has topped. There is a possibility that the parabola that started in 2017 has now ended or exhausted itself. That doesn't mean it's an end to this bull market by any stretch, but that a long period (maybe 2 or 3 full 60-day cycles) might be needed to consolidate the gains.
Whatever the outlook, I believe we might be looking at 3 more weeks of profit taking and consolidation. A good dip into the Jan 10th to 15th timeframe should be bought aggressively,
Thanks to this analysis I didn't fomo buy when the price shoot up a few days ago. Let's say how far down we can go this cycle.
fceuropa
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Really nice analysis and chart. I was drawing similar outcome not so much based on time cycles but on being at a wave 5 within a larger wave 5 (elliot wave style). Given it looks like we have the initial drop now locked in I think we can better project the target for your 60 day low at 7.5K. i.e. ATH minus (1.618 x (ATH minus the low close of the latest dip)) Just my opinion. p.s. I also like to think the special date is 6/1/2018 since that is Epiphany and we may just have one. Not religious just like the coincidence. Keep up the analysis.
Blowy
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Wow
pyi
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Right on!
deremermark123
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thank you, this could help help
RobinChong
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It alrdy hit 10k today. Maybe this will be a short cycle