Bitcoin: Life Changing Event Incoming
We don't need a lot of analysis to spot what is going on here. On the Weekly Ichimoku chart for the Total Market Cap, we can see a rare event coming that has not happened since November 2015: both price and the Chikou Span crossing above the Kumo.
This event is rare, but it is almost always a signal of a prolonged and powerful bullish trend - not just in cryptocurrencies but in any market. This bullish signal has occurred only four times in equity markets since 2010.
No doubt this move will generate a life-changing bull phase.
Did you miss the lows in 2012?
Did you miss 2015?
Did you miss the lows in 2019?
If both price and the Chikou Span can close above the 300 billion value area on the weekly chart, get ready for one hell of a run.
This event is rare, but it is almost always a signal of a prolonged and powerful bullish trend - not just in cryptocurrencies but in any market. This bullish signal has occurred only four times in equity markets since 2010.
No doubt this move will generate a life-changing bull phase.
Did you miss the lows in 2012?
Did you miss 2015?
Did you miss the lows in 2019?
If both price and the Chikou Span can close above the 300 billion value area on the weekly chart, get ready for one hell of a run.
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Pulll back to test the 100% extension before another expansion phase, which will likely terminate in late 2023.