6.6.19 Bitcoin Boom and Bust Cycles Current Target 5717
Bitcoin works in cycles.
11/25/2013 1177.19
1/12/2015 163.88 -86.08 Bottom of Bear Market 2015
11/2/2015 501.22 206% Breakout of Bear Market 2015
11/9/2015 298.76 -40%
6/13/2016 783.93 162% Local All Time High
8/1/2016 483.16 -38%
1/2/2017 1180.02 144% ATH
1/9/2017 751.08 -36%
3/6/2017 1225.79 76% New ATH
3/20/2017 889.73 -27%
6/12/2017 2973.96 235% New ATH
7/10/2017 1814.76 -39%
8/28/2017 4971.38 154% New ATH
9/11/2017 2977.01 -40%
12/11/2017 19764.51 539% Top of the bull market 2017 - FOMO
2/5/2018 5925.12 -70% First dip from the top of bull market - signal of the start of the bear market 2018
12/10/2018 3148.33 -85% Bottom of Bear Market 2018
5/27/2019 9074.92 188% Breakout of Bear Market 2018
From the bottom of 2015 Bear market up the top of the 2017 bull market but not including the 500% fomo.
Average Gain 163%
Average Loss -37%
What does all this mean?
Everytime there's a new all time high, the gains are on average 163% from the low, then there is consolidation on average of -37%.
If we take 5/27/2019's local high of 9074.92 and we draw it down -37%
Target 5717.1996 -37%
11/25/2013 1177.19
1/12/2015 163.88 -86.08 Bottom of Bear Market 2015
11/2/2015 501.22 206% Breakout of Bear Market 2015
11/9/2015 298.76 -40%
6/13/2016 783.93 162% Local All Time High
8/1/2016 483.16 -38%
1/2/2017 1180.02 144% ATH
1/9/2017 751.08 -36%
3/6/2017 1225.79 76% New ATH
3/20/2017 889.73 -27%
6/12/2017 2973.96 235% New ATH
7/10/2017 1814.76 -39%
8/28/2017 4971.38 154% New ATH
9/11/2017 2977.01 -40%
12/11/2017 19764.51 539% Top of the bull market 2017 - FOMO
2/5/2018 5925.12 -70% First dip from the top of bull market - signal of the start of the bear market 2018
12/10/2018 3148.33 -85% Bottom of Bear Market 2018
5/27/2019 9074.92 188% Breakout of Bear Market 2018
From the bottom of 2015 Bear market up the top of the 2017 bull market but not including the 500% fomo.
Average Gain 163%
Average Loss -37%
What does all this mean?
Everytime there's a new all time high, the gains are on average 163% from the low, then there is consolidation on average of -37%.
If we take 5/27/2019's local high of 9074.92 and we draw it down -37%
Target 5717.1996 -37%
My opinions only not trading advice.
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